Company registration number 06740776 (England and Wales)
RISHWOOD HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RISHWOOD HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RISHWOOD HOMES LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2024
29 September 2024
- 1 -
Notes
£
£
£
£
Fixed assets
Tangible assets
3
92,388
101,185
Current assets
Debtors
4
24,307
49,032
Cash at bank and in hand
37,471
42,533
61,778
91,565
Creditors: amounts falling due within one year
5
(101,787)
(102,069)
Net current liabilities
(40,009)
(10,504)
Total assets less current liabilities
52,379
90,681
Provisions for liabilities
(2,012)
Net assets
52,379
88,669
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
52,279
88,569
Total equity
52,379
88,669
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 January 2025
M A Wikinson
Director
Company registration number 06740776 (England and Wales)
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Rishwood Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director is not aware of any material uncertainties affecting the company, and considers that the company will have sufficient resources to continue trading for the foreseeable future. As a result, the director hatrues continued to adopt the going concern basis in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable in respect of rental income and management services.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
Over the term of the lease
Plant and machinery
33% reducing balance
Fixtures, fittings & equipment
10% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 30 September 2023
124,440
94,139
218,579
Additions
11,014
11,014
At 29 September 2024
124,440
105,153
229,593
Depreciation and impairment
At 30 September 2023
55,620
61,774
117,394
Depreciation charged in the year
15,478
4,333
19,811
At 29 September 2024
71,098
66,107
137,205
Carrying amount
At 29 September 2024
53,342
39,046
92,388
At 29 September 2023
68,820
32,365
101,185
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
13,234
10,718
Corporation tax recoverable
2,551
Other debtors
62
19,958
Prepayments and accrued income
11,011
15,805
24,307
49,032
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
46,673
36,508
Corporation tax
7,528
Other taxation and social security
2,013
818
Other creditors
30
1,348
Accruals
53,071
55,867
101,787
102,069
RISHWOOD HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 5 -
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
98 "A" Ordinary Shares of £1 each
98
98
2 "B" Ordinary Shares of £1 each
2
2
100
100