Company Registration No. 13367572 (England and Wales)
Ryley Properties Ltd
Unaudited accounts
for the year ended 30 April 2024
Ryley Properties Ltd
Unaudited accounts
Contents
Ryley Properties Ltd
Company Information
for the year ended 30 April 2024
Company Number
13367572 (England and Wales)
Registered Office
36 Thomas Fairfax Way
Henhull
Nantwich
CW5 6YL
England
Accountants
Omega Accounting Ltd
Ryley Properties Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
30,812
30,812
Investment property
125,000
125,000
Creditors: amounts falling due within one year
(1,104)
(399)
Net current liabilities
(1,004)
(299)
Total assets less current liabilities
154,808
155,513
Creditors: amounts falling due after more than one year
(79,607)
(86,078)
Provisions for liabilities
Deferred tax
(13,706)
(13,181)
Called up share capital
100
100
Fair value reserve
58,432
58,432
Profit and loss account
2,963
(2,278)
Shareholders' funds
61,495
56,254
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by
A Ryley
Director
Company Registration No. 13367572
Ryley Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
Ryley Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13367572. The registered office is 36 Thomas Fairfax Way, Henhull, Nantwich, CW5 6YL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Judgements and Key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(a) Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.
(i) Valuation of investment property
As described in the notes to the financial statements, the investment properties are stated in the balance sheet at fair value, based on the valuation performed by the director. The director is of the opinion that the year-end valuation is not materially different to current market prices observed.
Investment properties have been recognised at fair value by the director and they are of the opinion that there has been no material change since 30 April 2024.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Ryley Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation on freehold buildings is not provided as any uncharged depreciation for the year and any accumulated uncharged depreciation, would be immaterial in aggregate as a result of the company's policy to maintain its properties in good condition, which substantially prolongs their useful economic life and the estimated high residual value of the properties.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with 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 purpose 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 group of assets.
Investment properly 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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Ryley Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Land & buildings
Fair value at 1 May 2023
125,000
The directors consider the investment properties to be stated at fair value as at 30 April 2024.
In respect of tangible assets held at valuation, the aggregate cost, depreciation and carrying amount that would have been recognised if the assets had been carried under the historical cost model are: Aggregate cost £52,862 (2023: £52,862), Aggregate depreciation £nil (2023: £nil) and carrying value £52,862 (2023: £52,862).
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
704
-
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
79,607
86,078
9
Transactions with related parties
Transactions with directors are under normal market conditions and/or not material.
Ryley Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).