Caseware UK (AP4) 2024.0.164 2024.0.164 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-11-01falseNo description of principal activity22truetruefalse 00447857 2023-11-01 2024-10-31 00447857 2022-11-01 2023-10-31 00447857 2024-10-31 00447857 2023-10-31 00447857 c:Director2 2023-11-01 2024-10-31 00447857 d:Buildings 2023-11-01 2024-10-31 00447857 d:Buildings 2024-10-31 00447857 d:Buildings 2023-10-31 00447857 d:LandBuildings 2024-10-31 00447857 d:LandBuildings 2023-10-31 00447857 d:CurrentFinancialInstruments 2024-10-31 00447857 d:CurrentFinancialInstruments 2023-10-31 00447857 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 00447857 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 00447857 d:ShareCapital 2024-10-31 00447857 d:ShareCapital 2023-10-31 00447857 d:RevaluationReserve 2024-10-31 00447857 d:RevaluationReserve 2023-10-31 00447857 d:RetainedEarningsAccumulatedLosses 2024-10-31 00447857 d:RetainedEarningsAccumulatedLosses 2023-10-31 00447857 c:OrdinaryShareClass1 2023-11-01 2024-10-31 00447857 c:OrdinaryShareClass1 2024-10-31 00447857 c:OrdinaryShareClass1 2023-10-31 00447857 c:FRS102 2023-11-01 2024-10-31 00447857 c:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 00447857 c:FullAccounts 2023-11-01 2024-10-31 00447857 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 00447857 d:OtherDeferredTax 2024-10-31 00447857 d:OtherDeferredTax 2023-10-31 00447857 6 2023-11-01 2024-10-31 00447857 1 2024-10-31 00447857 2 2024-10-31 00447857 1 2023-10-31 00447857 2 2023-10-31 00447857 f:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00447857










Richard Drury Properties Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 October 2024

 
Richard Drury Properties Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Richard Drury Properties Limited for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Richard Drury Properties Limited for the year ended 31 October 2024 which comprise the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Richard Drury Properties Limited, as a body, in accordance with the terms of our engagement letter dated 22 November 2023Our work has been undertaken solely to prepare for your approval the financial statements of Richard Drury Properties Limited and state those matters that we have agreed to state to the Board of Directors of Richard Drury Properties Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Richard Drury Properties Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Richard Drury Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Richard Drury Properties Limited. You consider that Richard Drury Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Richard Drury Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
24 February 2025
Page 1

 
Richard Drury Properties Limited
Registered number: 00447857

Balance Sheet
As at 31 October 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,249,200
1,005,000

Investments
 5 
271,177
249,498

  
1,520,377
1,254,498

Current assets
  

Debtors: amounts falling due within one year
 6 
21,536
407

Cash at bank and in hand
  
24,787
11,784

  
46,323
12,191

Creditors: amounts falling due within one year
 7 
(16,537)
(13,233)

Net current assets/(liabilities)
  
 
 
29,786
 
 
(1,042)

Total assets less current liabilities
  
1,550,163
1,253,456

Provisions far liabilities
  

Deferred tax
 8 
(234,408)
(173,358)

  
 
 
(234,408)
 
 
(173,358)

Net assets
  
1,315,755
1,080,098


Capital and reserves
  

Called up share capital 
 9 
14,357
14,357

Revaluation reserve
  
1,035,676
817,774

Profit and loss account
  
265,722
247,967

  
1,315,755
1,080,098


Page 2

 
Richard Drury Properties Limited
Registered number: 00447857

Balance Sheet (continued)
As at 31 October 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
C R Hawkins
Director
Date: 24 February 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
Richard Drury Properties Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2024

1.


General information

The company is a private company, limited by share capital, incorporated in England and Wales. The address of its registered office is Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG, and its place of business is Hambrook, Bethesda Street, Upper Basildon, Pangbourne, Berkshire, RG8 8NT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling and rounded to the nearest £1.
The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover is derived from rents receivable. Turnover is recognised when all of the following conditions are satisfied:
 - the amount of revenue can be reliably measured;
 - it is probable that future economic benefits will flow to the entity;
 - and the stage of completion of the service provided can be measured reliably.
This is usually once services have been provided.

 
2.3

Investment properties

The company's properties are held for long-term investment and are included in the balance sheet at fair value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

 
2.4

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance Sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
Richard Drury Properties Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
Richard Drury Properties Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2024

4.


Tangible fixed assets





Investment properties

£



Cost or valuation


At 1 November 2023
1,005,000


Revaluations
244,200



At 31 October 2024

1,249,200






Net book value



At 31 October 2024
1,249,200



At 31 October 2023
1,005,000




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
1,249,200
1,005,000

1,249,200
1,005,000


The investment properties class of fixed assets was revalued on 31 October 2024 by the directors who are internal to the company. The basis of this valuation was open market value. This class of assets has a current value of £1,249,200 (2023: £1,005,000).

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
22,858
22,858

Net book value
22,858
22,858

Page 6

 
Richard Drury Properties Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2024

5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 November 2023
249,248
250
249,498


Additions
74,689
-
74,689


Disposals
(85,452)
-
(85,452)


Revaluations
32,442
-
32,442



At 31 October 2024
270,927
250
271,177






Net book value



At 31 October 2024
270,927
250
271,177



At 31 October 2023
249,248
250
249,498

Page 7

 
Richard Drury Properties Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 October 2024

6.


Debtors

2024
2023
£
£


Other debtors
207
407

Prepayments and accrued income
21,329
-

21,536
407



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
472
-

Corporation tax
11,009
6,937

Other taxation and social security
296
260

Accruals and deferred income
4,760
6,036

16,537
13,233



8.


Deferred taxation




2024


£






At beginning of year
173,358


Charged to profit or loss
61,050



At end of year
234,408

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
234,408
173,358

234,408
173,358


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



14,357 (2023 - 14,357) Ordinary shares of £1 each
14,357
14,357


Page 8

 
Richard Drury Properties Limited
 

Page 9