4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 55,812 43,873 1,194 45,067 10,745 11,939 xbrli:pure xbrli:shares iso4217:GBP 1207545 2023-04-01 2024-03-31 1207545 2024-03-31 1207545 2023-03-31 1207545 2022-04-01 2023-03-31 1207545 2023-03-31 1207545 2022-03-31 1207545 core:FurnitureFittings 2023-04-01 2024-03-31 1207545 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 1207545 bus:Director3 2023-04-01 2024-03-31 1207545 bus:Director1 2023-04-01 2024-03-31 1207545 bus:Director2 2023-04-01 2024-03-31 1207545 core:FurnitureFittings 2023-03-31 1207545 core:FurnitureFittings 2024-03-31 1207545 core:AfterOneYear 2024-03-31 1207545 core:AfterOneYear 2023-03-31 1207545 core:WithinOneYear 2024-03-31 1207545 core:WithinOneYear 2023-03-31 1207545 core:ShareCapital 2024-03-31 1207545 core:ShareCapital 2023-03-31 1207545 core:RetainedEarningsAccumulatedLosses 2024-03-31 1207545 core:RetainedEarningsAccumulatedLosses 2023-03-31 1207545 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 1207545 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-03-31 1207545 core:Non-currentFinancialInstruments 2024-03-31 1207545 core:Non-currentFinancialInstruments 2023-03-31 1207545 core:FurnitureFittings 2023-03-31 1207545 bus:Director1 2023-03-31 1207545 bus:Director1 2024-03-31 1207545 bus:Director2 2023-03-31 1207545 bus:Director2 2024-03-31 1207545 bus:Director1 2022-03-31 1207545 bus:Director1 2023-03-31 1207545 bus:Director2 2022-03-31 1207545 bus:Director2 2023-03-31 1207545 bus:Director1 2022-04-01 2023-03-31 1207545 bus:Director2 2022-04-01 2023-03-31 1207545 bus:SmallEntities 2023-04-01 2024-03-31 1207545 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 1207545 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 1207545 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 1207545 bus:FullAccounts 2023-04-01 2024-03-31 1207545 bus:OrdinaryShareClass1 2024-03-31 1207545 bus:OrdinaryShareClass1 2023-03-31
COMPANY REGISTRATION NUMBER: 1207545
Rategrove Limited
Filleted Unaudited Financial Statements
31 March 2024
Rategrove Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
10,745
11,939
Investments
6
176,487
176,487
---------
---------
187,232
188,426
Current assets
Stocks
797,000
971,195
Debtors
7
83,372
139,621
Cash at bank and in hand
245,338
7,526
------------
------------
1,125,710
1,118,342
Creditors: amounts falling due within one year
8
19,792
24,459
------------
------------
Net current assets
1,105,918
1,093,883
------------
------------
Total assets less current liabilities
1,293,150
1,282,309
Creditors: amounts falling due after more than one year
9
290,776
300,776
------------
------------
Net assets
1,002,374
981,533
------------
------------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
1,002,274
981,433
------------
---------
Shareholders funds
1,002,374
981,533
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rategrove Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 23 December 2024 , and are signed on behalf of the board by:
Mrs A.V. Lord
Director
Company registration number: 1207545
Rategrove Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 The Linen Yard South Street, Crewkerne, Somerset. TA18 8AB. The principal place of business being 51 Sherborne Business Centre, East Mill Lane, Sherborne, Dorset DT9 3DP.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS102 taking advantage of the disclosure exemptions of FRS102.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
The turnover shown in the profit & loss account represents the proceeds of traded investments and property sales. Other operating income includes dividends received and rental income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
10% reducing balance
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Property stocks are valued at cost. Investment stocks are valued at the lower of cost and net realisable value.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
55,812
55,812
--------
--------
Depreciation
At 1 April 2023
43,873
43,873
Charge for the year
1,194
1,194
--------
--------
At 31 March 2024
45,067
45,067
--------
--------
Carrying amount
At 31 March 2024
10,745
10,745
--------
--------
At 31 March 2023
11,939
11,939
--------
--------
6. Investments
Shares in participating interests
Loans to participating interests
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
1
226,486
226,487
----
---------
---------
Impairment
At 1 April 2023 and 31 March 2024
50,000
50,000
----
---------
---------
Carrying amount
At 31 March 2024
1
176,486
176,487
----
---------
---------
At 31 March 2023
1
176,486
176,487
----
---------
---------
Auster Limited is a company registered in England & Wales. Rategrove Limited owns the only Ordinary B Share which equates to 50% of the nominal share capital. Interest is receivable on the loans at a rate of 10%.
7. Debtors
2024
2023
£
£
Other debtors
83,372
139,621
--------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,001
Social security and other taxes
650
5,650
Other creditors
9,142
8,808
--------
--------
19,792
24,459
--------
--------
Included within creditors due within one year is an amount of £10,000 (2023 -£10,000) relating to a Coronavirus Bounce Back loan which is secured under the Government scheme.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,776
24,776
Amounts owed to group undertakings and undertakings in which the company has a participating interest
276,000
276,000
---------
---------
290,776
300,776
---------
---------
Included in creditors falling due after one year is an amount of £14,776(2023 - £24,776) relating to a Coronavirus Bounce back loan which is secured under the Government Scheme.
The interest rate on this loan being 2.5%
10. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A.J. Kaye
47,324
2,664
( 41,500)
8,488
Mrs S.M. Kaye
47,324
2,665
( 41,500)
8,489
--------
-------
--------
--------
94,648
5,329
( 83,000)
16,977
--------
-------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
A.J. Kaye
314,303
43,021
( 310,000)
47,324
Mrs S.M. Kaye
314,303
43,021
( 310,000)
47,324
---------
--------
---------
--------
628,606
86,042
( 620,000)
94,648
---------
--------
---------
--------
Interest was charged on the loans at 2.25%. £5,250 was repaid within three months of the year end. Mr & Mrs Kaye resigned as directors on 31 July 2023.