REGISTERED NUMBER: 09885939 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2024

for

Rye (Nottingham) Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

S J Rye

S E Rye

REGISTERED OFFICE:

Tall Trees

Manor Park

Ruddington

Nottingham

Nottinghamshire

NG11 6DS

REGISTERED NUMBER:

09885939 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rye (Nottingham) Ltd for the year ended 30 November 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rye (Nottingham) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rye (Nottingham) Ltd and state those matters that we have agreed to state to the Board of Directors of Rye (Nottingham) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rye (Nottingham) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Rye (Nottingham) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rye (Nottingham) Ltd. You consider that Rye (Nottingham) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rye (Nottingham) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

3 April 2025

FIXED ASSETS

Tangible assets

4

899

1,348

Investment property

5

2,592,000

3,002,000

2,592,899

3,003,348

CURRENT ASSETS

Debtors

6

5,048

5,317

Cash at bank

14,554

9,700

19,602

15,017

CREDITORS

Amounts falling due within one year

7

536,544

843,303

NET CURRENT LIABILITIES

(516,942

)

(828,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,075,957

2,175,062

CREDITORS

Amounts falling due after more than one year

8

(1,523,047

)

(1,626,727

)

PROVISIONS FOR LIABILITIES

(110,271

)

(110,821

)

NET ASSETS

442,639

437,514

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

330,814

-

Retained earnings

111,725

437,414

442,639

437,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:

S J Rye - Director

1.	STATUTORY INFORMATION

Rye (Nottingham) Ltd 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 preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation

of certain financial assets and liabilities and investment properties measured at fair value through profit

or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated

depreciation and any accumulated impairment losses if applicable.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation

less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other

comprehensive income and accumulated in equity, except to the extent it reverses a revaluation

decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of

an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any

previously recognised revaluation increase accumulated in equity in respect of that asset. Where a

revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of

that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,

over the useful economic life of that asset as follows:

Fixtures, fittings & equipment - 33% reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or

residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Investment property

The investment property, being a property held to earn rentals or for capital appreciation or both, is

measured initially at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are

recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of

investment property, it shall be transferred to property, plant and equipment and accounted for under

the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the

reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that

it relates to items recognised in other comprehensive income or directly in capital and reserves. In this

case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at

the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or

substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax

losses and other deferred tax assets are recognised to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is

measured using the tax rates and laws that have been enacted or substantively enacted by the

reporting date that are expected to apply to the reversal of the timing difference

Impairment

A review for indicators of impairment is carried out at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past

event; it is probable that the entity will be required to transfer economic benefits in settlement and the

amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the

statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at

the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current

best estimate of the amount that would be required to settle the obligation. Any adjustments to the

amounts previously recognised are recognised in profit or loss unless the provision was originally

recognised as part of the cost of an asset. When a provision is measured at the present value of the

amount expected to be required to settle the obligation, the unwinding of the discount is recognised in

finance costs in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the

related service is provided. Prepaid contributions are recognised as an asset to the extent that the

prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting

date in which the employees render the related service, the liability is measured on a discounted

present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the

period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2023

and 30 November 2024

6,050

DEPRECIATION

At 1 December 2023

4,702

Charge for year

449

At 30 November 2024

5,151

NET BOOK VALUE

At 30 November 2024

899

At 30 November 2023

1,348

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

3,002,000

Disposals

(410,000

)

At 30 November 2024

2,592,000

NET BOOK VALUE

At 30 November 2024

2,592,000

At 30 November 2023

3,002,000

Fair value at 30 November 2024 is represented by:

£

Valuation in 2021

301,085

Valuation in 2022

99,000

Valuation in 2023

41,000

Cost

2,150,915

2,592,000

If investment property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

2,150,915

2,467,621

Investment property was valued on an open market basis on 30 November 2024 by an independent valuer .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

325

296

Other debtors

4,723

5,021

5,048

5,317

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Taxation and social security

26,812

3,116

Other creditors

509,732

840,187

536,544

843,303

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

1,523,047

1,626,727

Included within creditors: amounts falling due after more than one year is an amount of £1,523,047

(2023 - £1,626,727) in respect of liabilities payable or repayable by instalments which fall due for

payment after more than five years from the reporting date.

9.

RESERVES

Revaluation

reserve

£

Reserves transfer

330,814

At 30 November 2024

330,814