0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 160,000 25,000 185,000 185,000 160,000 xbrli:pure xbrli:shares iso4217:GBP 10932397 2023-09-01 2024-08-31 10932397 2024-08-31 10932397 2023-08-31 10932397 2022-09-01 2023-08-31 10932397 2023-08-31 10932397 2022-08-31 10932397 bus:Director1 2023-09-01 2024-08-31 10932397 core:WithinOneYear 2024-08-31 10932397 core:WithinOneYear 2023-08-31 10932397 core:AfterOneYear 2024-08-31 10932397 core:AfterOneYear 2023-08-31 10932397 core:ShareCapital 2024-08-31 10932397 core:ShareCapital 2023-08-31 10932397 core:OtherReservesSubtotal 2024-08-31 10932397 core:OtherReservesSubtotal 2023-08-31 10932397 core:RetainedEarningsAccumulatedLosses 2024-08-31 10932397 core:RetainedEarningsAccumulatedLosses 2023-08-31 10932397 core:CostValuation core:Non-currentFinancialInstruments 2023-08-31 10932397 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-08-31 10932397 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 10932397 core:Non-currentFinancialInstruments 2024-08-31 10932397 core:Non-currentFinancialInstruments 2023-08-31 10932397 bus:SmallEntities 2023-09-01 2024-08-31 10932397 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10932397 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10932397 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10932397 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 10932397
READY ROOMS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2024
READY ROOMS LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Investments
4
185,000
160,000
CURRENT ASSETS
Cash at bank and in hand
2,171
585
CREDITORS: amounts falling due within one year
5
15,919
18,187
--------
--------
NET CURRENT LIABILITIES
13,748
17,602
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
171,252
142,398
CREDITORS: amounts falling due after more than one year
6
81,637
82,684
PROVISIONS
13,516
7,266
---------
---------
NET ASSETS
76,099
52,448
---------
---------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Non distributable reserve
40,546
21,796
Profit and loss account
35,453
30,552
--------
--------
SHAREHOLDERS FUNDS
76,099
52,448
--------
--------
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 comprehensive income has not been delivered.
For the year ending 31 August 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 .
READY ROOMS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 7 January 2025 , and are signed on behalf of the board by:
Mr E M Knauer
Director
Company registration number: 10932397
READY ROOMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 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 Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents the amount derived from rents receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
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.
4. INVESTMENTS
Property
£
Cost
At 1 September 2023
160,000
Revaluations
25,000
---------
At 31 August 2024
185,000
---------
Impairment
At 1 September 2023 and 31 August 2024
---------
Carrying amount
At 31 August 2024
185,000
---------
At 31 August 2023
160,000
---------
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1,231
1,416
Social security and other taxes
1,150
455
Other creditors
13,538
16,316
--------
--------
15,919
18,187
--------
--------
The amounts shown in bank loans and overdrafts are secured by the company.
6. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
81,637
82,684
--------
--------
The amounts shown in bank loans and overdrafts are secured by the company.