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Registration number: 00730165

Rudman & Sheen (Holdings) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Rudman & Sheen (Holdings) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 10

 

Rudman & Sheen (Holdings) Limited

Company Information

Directors

Mr P Sheen

Mrs C A Smyth

Company secretary

Mr P Sheen

Registered office

6 Marina Road
Durrington
Salisbury
Wiltshire
SP4 8DB

Accountants

Numeric Accounting
Chartered Certified AccountantsSuite 1 The Portway Centre
Old Sarum Park
Old Sarum
Salisbury
Wiltshire
SP4 6EB

 

Rudman & Sheen (Holdings) Limited

(Registration number: 00730165)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

35

39

Investment property

5

565,000

565,000

 

565,035

565,039

Current assets

 

Debtors

6

850

902

Cash at bank and in hand

 

17,798

25,767

 

18,648

26,669

Creditors: Amounts falling due within one year

7

(5,434)

(18,633)

Net current assets

 

13,214

8,036

Total assets less current liabilities

 

578,249

573,075

Provisions for liabilities

(49,501)

(49,502)

Net assets

 

528,748

523,573

Capital and reserves

 

Called up share capital

8

200

200

Revaluation reserve

145,651

145,651

Retained earnings

382,897

377,722

Shareholders' funds

 

528,748

523,573

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

 

Rudman & Sheen (Holdings) Limited

(Registration number: 00730165)
Balance Sheet as at 31 August 2024 (continued)

.........................................
Mr P Sheen
Company secretary and director

 

Rudman & Sheen (Holdings) Limited

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2023

200

145,651

377,722

523,573

Profit for the year

-

-

17,175

17,175

Dividends

-

-

(12,000)

(12,000)

At 31 August 2024

200

145,651

382,897

528,748

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 September 2022

200

145,651

369,598

515,449

Profit for the year

-

-

20,124

20,124

Dividends

-

-

(12,000)

(12,000)

At 31 August 2023

200

145,651

377,722

523,573

 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
6 Marina Road
Durrington
Salisbury
Wiltshire
SP4 8DB

These financial statements were authorised for issue by the Board on 17 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

10% Reducing Balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fixed asset investments

Fixed asset investments represent investment properties at fair value.

Financial instruments

Classification
A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.
 Recognition and measurement
When a financial asset or financial liability is recognised initially, the entity shall measure it at the transaction price unless the arrangement constitutes, in effect, a financing transaction. An arrangement constitutes a financing transaction if payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

At the end of each reporting period, an entity shall measure all financial instruments which constitute a financing arrangement at fair value and recognise changes in fair value in profit or loss.

 

 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 September 2023

4,071

4,071

At 31 August 2024

4,071

4,071

Depreciation

At 1 September 2023

4,032

4,032

Charge for the year

4

4

At 31 August 2024

4,036

4,036

Carrying amount

At 31 August 2024

35

35

At 31 August 2023

39

39

5

Investment properties

2024
£

At 1 September

565,000

At 31 August

565,000

The valuation was provided on 1 August 2022 and the director has advised that the value is not likely to have changed.

Fixed asset investments represent investment property at fair value. The historic cost of the properties is £220,391.

6

Debtors

Current

2024
£

2023
£

Trade debtors

594

617

Prepayments

256

285

 

850

902

 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

4,029

8,666

Accruals and deferred income

1,405

1,967

Other creditors

-

8,000

5,434

18,633

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.25 each

800

200

800

200

       

9

Reserves

The revaluation reserve is the gain on revlauation of investment properties and is a non-distributable reserve.

10

Dividends

2024

2023

£

£

Interim dividend of £15.00 (2023 - £15.00) per ordinary share

12,000

12,000

 

 
 

Rudman & Sheen (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

11

Related party transactions

Transactions with directors

2024

At 1 September 2023
£

Repayments by director
£

At 31 August 2024
£

Mr P Sheen

The loan is interest free and is repayable on demand.

(8,000)

8,000

-