REGISTERED NUMBER: |
RUMRAT LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
RUMRAT LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
ABRIDGED BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Fair value reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Rumrat Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Rumrat Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents amounts (excluding value added tax) derived from the rent of commercial properties and the provision of services in relation to these during the year. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Debtors and creditors |
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts. |
Any losses arising from impairment are recognised in the profit and loss account. |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 April 2023 | 200 |
Additions | 100 |
At 31 March 2024 | 300 |
NET BOOK VALUE |
At 31 March 2024 | 300 |
At 31 March 2023 | 200 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 3 Weekley Wood Close, Kettering, Northamptonshire, NN14 1UQ |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Registered office: 3 Weekley Wood Close, Kettering, Northamptonshire, NN14 1UQ |
Nature of business: |
% |
Class of shares: | holding |
2024 | 2023 |
£ | £ |
Aggregate capital and reserves |
Registered office: 3 Weekley Wood Close, Kettering, Northamptonshire, NN14 1UQ |
Nature of business: |
% |
Class of shares: | holding |
2024 |
£ |
Aggregate capital and reserves |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 140,466 |
Cost | 6,109,534 |
6,250,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 6,070,395 | 6,070,395 |
Investment properties were valued on an open market basis on 31 March 2021 by Innes England . |
The director believes this valuation is still appropriate. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value | £ | £ |
95 | Ordinary | £1 | 95 | 95 |
1 | Ordinary A | £1 | 1 | 1 |
1 | Ordinary B | £1 | 1 | 1 |
1 | Ordinary C | £1 | 1 | 1 |
1 | Ordinary D | £1 | 1 | 1 |
1 | Ordinary E | £1 | 1 | 1 |
100 | 100 |
8. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
RUMRAT LIMITED (REGISTERED NUMBER: 12106875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | RELATED PARTY DISCLOSURES |
The director's formally loaned the company £6,250,000 to fund the purchase of the Investment properties in 2021. |
At 31 March 2024 balances of £5,797,973 were due to the directors of the Company. Interest was not charged on this balance as agreed by the directors (2023 - 0%) so in the period this amounted to £nil. (2023 - £0) |
There are no fixed repayment terms in place for this loan with the proposed settlement due on the eventual sale of the investment properties. |