Rickwood Properties Limited 04564978 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is property management. Digita Accounts Production Advanced 6.30.9574.0 true 04564978 2023-10-01 2024-09-30 04564978 2024-09-30 04564978 core:RetainedEarningsAccumulatedLosses 2024-09-30 04564978 core:RevaluationReserve 2024-09-30 04564978 core:ShareCapital 2024-09-30 04564978 core:CurrentFinancialInstruments 2024-09-30 04564978 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 04564978 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 04564978 bus:SmallEntities 2023-10-01 2024-09-30 04564978 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04564978 bus:FilletedAccounts 2023-10-01 2024-09-30 04564978 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04564978 bus:RegisteredOffice 2023-10-01 2024-09-30 04564978 bus:Director1 2023-10-01 2024-09-30 04564978 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04564978 countries:EnglandWales 2023-10-01 2024-09-30 04564978 2023-09-30 04564978 2022-10-01 2023-09-30 04564978 2023-09-30 04564978 core:RetainedEarningsAccumulatedLosses 2023-09-30 04564978 core:RevaluationReserve 2023-09-30 04564978 core:ShareCapital 2023-09-30 04564978 core:CurrentFinancialInstruments 2023-09-30 04564978 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04564978 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 04564978

Rickwood Properties Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Rickwood Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Rickwood Properties Limited

(Registration number: 04564978)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

485,085

485,085

Current assets

 

Debtors

5

22,737

20,835

Cash at bank and in hand

 

20,480

14,716

 

43,217

35,551

Creditors: Amounts falling due within one year

6

(195,165)

(158,046)

Net current liabilities

 

(151,948)

(122,495)

Total assets less current liabilities

 

333,137

362,590

Creditors: Amounts falling due after more than one year

6

(76,456)

(92,306)

Provisions for liabilities

(37,050)

(37,050)

Net assets

 

219,631

233,234

Capital and reserves

 

Called up share capital

100

2

Revaluation reserve

165,450

165,450

Retained earnings

54,081

67,782

Shareholders' funds

 

219,631

233,234

 

Rickwood Properties Limited

(Registration number: 04564978)
Balance Sheet as at 30 September 2024

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................
Mr David Jay Tanner
Director

 

Rickwood Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Hollybank
Cheddleton
Stoke On Trent
Staffordshire
ST13 7DX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from rental income. Turnover is shown net of rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Rickwood Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

No depreciation is provided on the investment properties which is a departure from the requirements of the
Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment
potential and so their current value is of more significance than any measure of consumption and to
depreciate them would not give a true and fair view. The provisions of the FRS102 in respect of investment
properties have therefore been adopted in order to give a true and fair view. If this departure from the act had
not been made, the profit/loss for the year would have been reduced by depreciation.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise
have been shown cannot be separately identified or quantified.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Rickwood Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Investment properties

2024
£

At 1 October

485,085

At 30 September

485,085

The investment property valuations reflect the general conditions of the properties in their present state. The properties are revalued annually by the Directors and / or independent valuers.

5

Debtors

Current

2024
£

2023
£

Trade debtors

21,081

16,805

Other debtors

1,656

4,030

 

22,737

20,835

 

Rickwood Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

15,698

18,660

Trade creditors

 

10,184

33,974

Other creditors

 

169,283

105,412

 

195,165

158,046

Current loans and borrowings

2024
£

2023
£

Bank borrowings

15,698

15,545

Other borrowings

-

3,115

15,698

18,660

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

76,456

92,306