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Company No: 13806242 (England and Wales)

RS AYLESBEARE LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RS AYLESBEARE LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RS AYLESBEARE LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
RS AYLESBEARE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 30.09.2024 30.09.2023
£ £
Current assets
Stocks 879,205 704,533
Debtors 3 1,208 2,387
Cash at bank and in hand 104,996 1,572
985,409 708,492
Creditors: amounts falling due within one year 4 ( 994,634) ( 713,286)
Net current liabilities (9,225) (4,794)
Total assets less current liabilities (9,225) (4,794)
Net liabilities ( 9,225) ( 4,794)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 9,325 ) ( 4,894 )
Total shareholders' deficit ( 9,225) ( 4,794)

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of RS Aylesbeare Ltd (registered number: 13806242) were approved and authorised for issue by the Board of Directors on 11 June 2025. They were signed on its behalf by:

Jeremy Paul Blake Rihll
Director
Jeffrey Slade
Director
RS AYLESBEARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RS AYLESBEARE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

RS Aylesbeare Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lorams Village Lane, Perkins Village, Exeter, EX5 2JG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £12,819. The Company is supported through loans from the directors and shareholders. The directors and shareholders have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors and shareholders will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The prior period length was shortened to a 6 month period ending 30 September 2023 to align with companies under common control. The prior period figures are therefore not entirely comparable with the current year.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
30.09.2024
Period from
01.01.2023 to
30.09.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

30.09.2024 30.09.2023
£ £
VAT recoverable 1,208 2,387

4. Creditors: amounts falling due within one year

30.09.2024 30.09.2023
£ £
Trade creditors 4,282 2,160
Amounts owed to directors 0 60
Accruals 2,700 2,100
Other creditors 987,652 708,966
994,634 713,286

5. Called-up share capital

30.09.2024 30.09.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Transactions with owners holding a participating interest in the entity

30.09.2024 30.09.2023
£ £
Amounts owed to companies under common control (987,652) (708,966)

Transactions with the entity's directors

30.09.2024 30.09.2023
£ £
Amounts owed to directors 0 60

The above balance represents amounts owed to the directors by the Company. No interest is charged on the amount and there are no fixed repayment terms.