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Company No: 14846813 (England and Wales)

RHYBEL LIMITED

Unaudited Financial Statements
For the financial period from 04 May 2023 to 31 May 2024
Pages for filing with the registrar

RHYBEL LIMITED

Unaudited Financial Statements

For the financial period from 04 May 2023 to 31 May 2024

Contents

RHYBEL LIMITED

BALANCE SHEET

As at 31 May 2024
RHYBEL LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 31.05.2024
£
Fixed assets
Investment property 3 396,900
396,900
Current assets
Cash at bank and in hand 3,369
3,369
Creditors: amounts falling due within one year 4 ( 141,329)
Net current liabilities (137,960)
Total assets less current liabilities 258,940
Creditors: amounts falling due after more than one year 5 ( 264,274)
Net liabilities ( 5,334)
Capital and reserves
Called-up share capital 6 20
Profit and loss account ( 5,354 )
Total shareholders' deficit ( 5,334)

For the financial period ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rhybel Limited (registered number: 14846813) were approved and authorised for issue by the Board of Directors on 03 February 2025. They were signed on its behalf by:

Dr R S Nijjar
Director
RHYBEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 04 May 2023 to 31 May 2024
RHYBEL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 04 May 2023 to 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Rhybel Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of any trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
04.05.2023 to
31.05.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Investment property

Investment property
£
Valuation
As at 04 May 2023 0
Additions 396,900
As at 31 May 2024 396,900

There has been no independent valuation of the investment property at this point in time.

4. Creditors: amounts falling due within one year

31.05.2024
£
Amounts owed to directors 138,809
Accruals 2,520
141,329

5. Creditors: amounts falling due after more than one year

31.05.2024
£
Bank loans 264,274

The bank loan is secured on the investment property.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

31.05.2024
£
Bank loans 264,274

The bank loan is secured on the investment property.

6. Called-up share capital

31.05.2024
£
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each 10
10 Ordinary B shares of £ 1.00 each 10
20

Each share is entitled to one vote in any circumstances, is entitled to dividend payments or any other distribution and is entitled to participate in a distribution arising from a winding of the company.