Company registration number 12343285 (England and Wales)
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr R P Wright
Mr C S Wright
Company number
12343285
Registered office
Beaver House
Plough Road Centre
Great Bentley
Colchester
Essex
CO7 8LG
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
CONTENTS
Page
Company information
1
Accountants' report
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
1,697,748
1,697,748
Current assets
Debtors
5
430
100
Cash at bank and in hand
10,348
13,923
10,778
14,023
Creditors: amounts falling due within one year
6
(1,800)
(2,130)
Net current assets
8,978
11,893
Total assets less current liabilities
1,706,726
1,709,641
Creditors: amounts falling due after more than one year
7
(1,697,611)
(1,697,173)
Net assets
9,115
12,468
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
9,015
12,368
Total equity
9,115
12,468
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 3 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
Mr R P Wright
Director
Company Registration No. 12343285
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 4 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
2
Accounting policies
Company information
Wright Ruffell (Residential) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Beaver House, Plough Road Centre, Great Bentley, Colchester, Essex, CO7 8LG.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover represents rental income received on investment properties owned by the company.
2.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,697,748
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
330
Other debtors
100
100
430
100
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
330
Other creditors
1,800
1,800
1,800
2,130
WRIGHT RUFFELL (RESIDENTIAL) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,173,215
1,173,215
Other creditors
524,396
523,958
1,697,611
1,697,173
The bank loans are secured on the investment properties owned by the company.
8
Related party transactions
Included in other creditors is an amount of £524,396 (2023 £523,958) owing to Wright Ruffell (Sturricks) Limited, a company of which the directors are also directors and shareholders. The loan is interest free, and will be repaid as and when funds allow.