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Company Registration No. 00728497 (England and Wales)
Rigel Designs Limited Unaudited accounts for the year ended 31 July 2024
Rigel Designs Limited Unaudited accounts Contents
Page
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Rigel Designs Limited Company Information for the year ended 31 July 2024
Directors
S R Steeden J A Steeden
Company Number
00728497 (England and Wales)
Registered Office
The Grange Church Preen Church Stretton Shropshire SY6 7LQ
Accountants
Howard and Company High Street Egham Surrey TW20 9HE
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Rigel Designs Limited Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
201 
268 
Investment property
409,775 
- 
409,976 
268 
Current assets
Debtors
19,095 
24,112 
Investments
65,135 
53,390 
Cash at bank and in hand
8,519 
421,741 
92,749 
499,243 
Creditors: amounts falling due within one year
(5,107)
(2,826)
Net current assets
87,642 
496,417 
Net assets
497,618 
496,685 
Capital and reserves
Called up share capital
193 
193 
Capital redemption reserve
907 
907 
Profit and loss account
496,518 
495,585 
Shareholders' funds
497,618 
496,685 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2025 and were signed on its behalf by
S R Steeden Director Company Registration No. 00728497
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Rigel Designs Limited Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Rigel Designs Limited is a private company, limited by shares, registered in England and Wales, registration number 00728497. The registered office is The Grange, Church Preen, Church Stretton, Shropshire, SY6 7LQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises the value of work done during the year in the normal course of business (excluding VAT and similar taxes and trade discounts). In the case of projects that were in progress at the year end turnover is recognised by reference to the stage of each project's completion, and income is deferred or accrued accordingly. Costs associated with incomplete projects are likewise recognised as cost of sales by reference to the stage of each project's completion, and costs are accrued or deferred as Work in Progress on a project by project basis.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares and similar items are included at fair value. Changes in fair value are included in the income statement.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Rigel Designs Limited Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 August 2023
12,715 
At 31 July 2024
12,715 
Depreciation
At 1 August 2023
12,447 
Charge for the year
67 
At 31 July 2024
12,514 
Net book value
At 31 July 2024
201 
At 31 July 2023
268 
5
Investment property
2024 
£ 
Additions
409,775 
At 31 July 2024
409,775 
The property is a new build and was purchased during the year. The directors are of the opinion that its market value has not changed.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Deferred tax asset
19,095 
20,106 
Other debtors
- 
4,006 
19,095 
24,112 
7
Investments held as current assets
2024 
2023 
£ 
£ 
Listed investments
65,135 
53,390 
Listed investments are shown in the accounts at fair value. The cost price of these investments at 31 July 2024 was £47,992 (2023: £54,847).
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
722 
- 
Loans from directors
1,551 
1,551 
Accruals
2,834 
1,275 
5,107 
2,826 
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Rigel Designs Limited Notes to the Accounts for the year ended 31 July 2024
9
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
(1,893)
(1,876)
Tax losses carried forward
(17,866)
(17,866)
Other deferred taxation
664 
(364)
(19,095)
(20,106)
2024 
2023 
£ 
£ 
Provision at start of year
(20,106)
(12,497)
Charged/(credited) to the profit and loss account
1,011 
(7,609)
Provision at end of year
(19,095)
(20,106)
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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