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REGISTERED NUMBER: 13228491 (England and Wales)











Financial Statements

for the Year Ended 31 July 2024

for

RIGHTSHORE PROPERTIES LTD

RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RIGHTSHORE PROPERTIES LTD

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr S Cullen
Mrs M C Cullen





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 13228491 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 229 457
Investment property 5 403,672 403,672
403,901 404,129

CURRENT ASSETS
Cash at bank 15,727 9,407

CREDITORS
Amounts falling due within one year 6 204,379 196,132
NET CURRENT LIABILITIES (188,652 ) (186,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,249

217,404

CREDITORS
Amounts falling due after more than one year 7 269,598 269,598
NET LIABILITIES (54,349 ) (52,194 )

CAPITAL AND RESERVES
Called up share capital 10 1,001 1,001
Retained earnings 11 (55,350 ) (53,195 )
SHAREHOLDERS' FUNDS (54,349 ) (52,194 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Mr S Cullen - Director


RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Rightshore Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Computer
equipmen
£   
COST
At 1 August 2023
and 31 July 2024 915
DEPRECIATION
At 1 August 2023 458
Charge for year 228
At 31 July 2024 686
NET BOOK VALUE
At 31 July 2024 229
At 31 July 2023 457

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 403,672
NET BOOK VALUE
At 31 July 2024 403,672
At 31 July 2023 403,672

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Directors' current accounts 204,239 195,993
Accrued expenses 140 139
204,379 196,132

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 8) 269,598 269,598

8. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 269,598 269,598

RIGHTSHORE PROPERTIES LTD (REGISTERED NUMBER: 13228491)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 269,598 269,598

The bank loan is secured over the asset of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
500 A Ordinary £1 500 500
500 B Ordinary £1 500 500
1 C Ordinary £1 1 1
1,001 1,001

11. RESERVES
Retained
earnings
£   

At 1 August 2023 (53,195 )
Deficit for the year (2,155 )
At 31 July 2024 (55,350 )

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £204,239 (2022: £195,993) due and payable to the director. The amount is interest free and repayable on demand.