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REGISTERED NUMBER: 08561819 (England and Wales)










Rd Development Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






Rd Development Limited (Registered number: 08561819)






Contents of the Financial Statements
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Rd Development Limited

Company Information
for the year ended 31 December 2024







DIRECTORS: Mr R A Hewitt-Smith
Mrs D L Jarvis





REGISTERED OFFICE: 23 High Street
Tywyn
Gwynedd
LL36 9AE





REGISTERED NUMBER: 08561819 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

Rd Development Limited (Registered number: 08561819)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,967 34,622
Investment property 5 1,380,000 1,291,000
1,405,967 1,325,622

CURRENT ASSETS
Debtors 6 614 434
Cash at bank 42,280 4,932
42,894 5,366
CREDITORS
Amounts falling due within one year 7 704,506 712,004
NET CURRENT LIABILITIES (661,612 ) (706,638 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

744,355

618,984

PROVISIONS FOR LIABILITIES 8 307,344 116,975
NET ASSETS 437,011 502,009

CAPITAL AND RESERVES
Called up share capital 9 200 200
Revaluation reserve 10 380,139 479,633
Retained earnings 10 56,672 22,176
SHAREHOLDERS' FUNDS 437,011 502,009

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Rd Development Limited (Registered number: 08561819)

Balance Sheet - continued
31 December 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 25 March 2025 and were signed on its behalf by:





Mrs D L Jarvis - Director


Rd Development Limited (Registered number: 08561819)

Notes to the Financial Statements
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Rd Development Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Rd Development Limited (Registered number: 08561819)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2024
and 31 December 2024 65,858
DEPRECIATION
At 1 January 2024 31,236
Charge for year 8,655
At 31 December 2024 39,891
NET BOOK VALUE
At 31 December 2024 25,967
At 31 December 2023 34,622

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,291,000
Revaluations 89,000
At 31 December 2024 1,380,000
NET BOOK VALUE
At 31 December 2024 1,380,000
At 31 December 2023 1,291,000

The freehold investment properties were acquired between 2016 and 2023. The freehold investment properties have been valued at £1,380,000 by the directors on 31st December 2024. The total cost of all properties is £663,832 with enhancement expenditure of £28,686

There was no valuation of the investment properties by an independent valuer at 31st December 2024, 2023, 2022, 2021 or 2020

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2024 89,000
Valuation in 2023 114,199
Valuation in 2022 66,043
Valuation in 2021 200,000
Valuation in 2020 140,000
Valuation in 2019 68,297
Valuation in 2018 9,943
Cost 692,518
1,380,000

Rd Development Limited (Registered number: 08561819)

Notes to the Financial Statements - continued
for the year ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 115 -
Prepayments 499 434
614 434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 698,854 708,352
Accruals and deferred income 5,652 3,652
704,506 712,004

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 307,344 116,975

Deferred
tax
£   
Balance at 1 January 2024 116,975
Provided during year 190,369
Balance at 31 December 2024 307,344

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
200 Share capital 1 £1 200 200

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 January 2024 22,176 479,633 501,809
Deficit for the year (62,998 ) (62,998 )
Dividends (2,000 ) (2,000 )
Transfer between Reserves 99,494 (99,494 ) -
At 31 December 2024 56,672 380,139 436,811

Rd Development Limited

Report of the Accountants to the Directors of
Rd Development Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN


25 March 2025