Company registration number 00301393 (England and Wales)
RAVENSCLIFFE PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RAVENSCLIFFE PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RAVENSCLIFFE PROPERTY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
1,632,511
1,059,246
Investments
5
767,148
767,148
2,399,659
1,826,394
Current assets
Debtors
6
1,146,310
653,722
Cash at bank and in hand
213,147
172,271
1,359,457
825,993
Creditors: amounts falling due within one year
7
(163,168)
(41,322)
Net current assets
1,196,289
784,671
Total assets less current liabilities
3,595,948
2,611,065
Net assets excluding pension surplus
3,595,948
2,611,065
Defined benefit pension surplus
125,359
125,359
Net assets
3,721,307
2,736,424
Capital and reserves
Called up share capital
8
53,500
53,500
Other reserves
125,359
125,359
Profit and loss reserves
3,542,448
2,557,565
Total equity
3,721,307
2,736,424

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 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.

RAVENSCLIFFE PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 7 February 2025 and are signed on its behalf by:
C W D Behrens
Director
Company Registration No. 00301393
RAVENSCLIFFE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Ravenscliffe Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ravenscliffe Mills, Calverley, Pudsey, West Yorkshire, LS28 5RY.

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. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover represents net sales of services, excluding value added tax.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Investment property has been valued by the director.

 

Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.

 

Investment properties shall be included in the balance sheet at their market value and the carrying value shall be displayed prominently either on the face of the balance sheet or in the notes.

1.4
Taxation

The tax expense represents the sum of the tax currently payable.

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.

RAVENSCLIFFE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.6
Retirement benefits

The company operates a defined contribution pensions scheme covering the directors and employees. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. The assets of the scheme are held separately form those of the company in an independent administered fund.

The company also operates a defined benefit pension scheme funded by contributions partly from employees and partly from the company at rates determined by an independent actuary. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees' working lives with the company.

1.7

Intercompany Loans

Intercompany loans are repayable on demand. No interest is charged on amounts outstanding.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
RAVENSCLIFFE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 July 2023
1,059,246
Additions
819,128
Disposals
(1,300,000)
Revaluations
1,054,137
At 30 June 2024
1,632,511

 

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
742,148
742,148
Other investments other than loans
25,000
25,000
767,148
767,148
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
5,663
8,025
Amounts owed by group undertakings
211,781
601,427
Other debtors
928,866
44,270
1,146,310
653,722
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
145,668
23,606
Other creditors
17,500
17,716
163,168
41,322
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
40,000
40,000
40,000
40,000
RAVENSCLIFFE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
8
Called up share capital
(Continued)
- 6 -
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
13,500
13,500
13,500
13,500
Preference shares classified as equity
13,500
13,500
Total equity share capital
53,500
53,500
9
Financial commitments, guarantees and contingent liabilities

Rushbond plc currently holds a fixed charge that is secured over the assets of the company in respect of the company's liabilities (present, future, actual or contingent) including interest and expenses.

 

 

10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The Company has written off two outstanding loans at the year end for a total of £32,220 to two discretionary trusts that hold shares in the company.

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