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
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
Rigel Designs Limited
Statement of financial position
as at 31 July 2024
Investment property
409,775
-
Cash at bank and in hand
8,519
421,741
Creditors: amounts falling due within one year
(5,107)
(2,826)
Net current assets
87,642
496,417
Net assets
497,618
496,685
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
Rigel Designs Limited
Notes to the Accounts
for the year ended 31 July 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The accounts are presented in £ sterling.
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 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 in shares and similar items are included at fair value. Changes in fair value are included in the income statement.
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.
Rigel Designs Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
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.
Amounts falling due within one year
Deferred tax asset
19,095
20,106
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
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)
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).