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Registration number: 12257037

R&D Ventures Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

R&D Ventures Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

R&D Ventures Ltd

(Registration number: 12257037)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

522,000

162,000

Current assets

 

Debtors

5

2,120

865

Cash at bank and in hand

 

45,724

24,564

 

47,844

25,429

Creditors: Amounts falling due within one year

6

(156,921)

(22,991)

Net current (liabilities)/assets

 

(109,077)

2,438

Total assets less current liabilities

 

412,923

164,438

Creditors: Amounts falling due after more than one year

6

(297,100)

(107,100)

Net assets

 

115,823

57,338

Capital and reserves

 

Called up share capital

2

2

Retained earnings

115,821

57,336

Shareholders' funds

 

115,823

57,338

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 

 

R&D Ventures Ltd

(Registration number: 12257037)
Balance Sheet as at 31 July 2024

.........................................
Dr R A Screen
Director

.........................................
Mr D Cheetham
Director

 

R&D Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also recognised
directly in other comprehensive income.

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or the expert opinion of the director. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

R&D Ventures Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 August

162,000

Additions

286,884

Fair value adjustments

73,116

At 31 July

522,000

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,255

-

Other debtors

865

865

 

2,120

865

 

R&D Ventures Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

110,000

-

Other creditors

 

46,921

22,991

 

156,921

22,991

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

297,100

107,100

Lending facilities included in Loans and borrowings are secured by the way of a charge over the fixed assets of the company and are guaranteed by the assets in which they relate.

7

Related party transactions

R&D Ventures Ltd is related to Yourstays Management Ltd due to D Cheetham and R Screen having direct or indirect control over both companies.

The intercompany loan of £38,750 (2023: £20,410) is unsecured, repayable on demand and interest free.