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REGISTERED NUMBER: 08714327 (England and Wales)









Unaudited Financial Statements

for the Year Ended 30 September 2024

for

58 RYC LIMITED

58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


58 RYC LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: A Whicheloe
T J Whicheloe





SECRETARY: J Thomas





REGISTERED OFFICE: 58 Royal York Crescent
Clifton
Bristol
BS8 4JP





REGISTERED NUMBER: 08714327 (England and Wales)





ACCOUNTANTS: Gravita
Bath House
6-8 Bath Street
Bristol
BS1 6HL

58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Balance Sheet
30 SEPTEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 3,937 3,937

CURRENT ASSETS
Debtors 5 3,105 10,194
Cash at bank 6,707 558
9,812 10,752
CREDITORS
Amounts falling due within one year 6 (14,411 ) (15,351 )
NET CURRENT LIABILITIES (4,599 ) (4,599 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(662

)

(662

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (762 ) (762 )
SHAREHOLDERS' FUNDS (662 ) (662 )

58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Balance Sheet - continued
30 SEPTEMBER 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 June 2025 and were signed on its behalf by:





T J Whicheloe - Director


58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. COMPANY INFORMATION

58 RYC Limited 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.

The principal activity of the company in the year under review was that of property development.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the year end the company had net current liabilities of £4,599 (2023 - £4,599). The financial statements are prepared on the grounds that current and future sources of support will be received from the parent company. The directors have, at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and as such, the directors believe it remains appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


2. ACCOUNTING POLICIES - continued
Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 3,937
NET BOOK VALUE
At 30 September 2024 3,937
At 30 September 2023 3,937

The directors of the company believe that the fair value of investment property is £3,937 as at 30 September 2023.

58 RYC LIMITED (REGISTERED NUMBER: 08714327)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 7,694
Prepayments and accrued income 3,105 2,500
3,105 10,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 9,180 11,321
VAT 1,841 599
Accruals and deferred income 3,390 3,431
14,411 15,351

7. RELATED PARTY DISCLOSURES

The directors of the company are also directors of Canynge Properties Limited. At the year end the company owed Canynge Properties Limited £9,180 (2023: £11,321). The loan is interest free and has no set date of repayment.

8. ULTIMATE CONTROLLING PARTY

The company's parent company is Canynge Properties Limited whose registered office is 58 Royal York Crescent, Bristol, England, BS8 4JP.

The ultimate controlling parties are Miss T J Whicheloe and Miss H D Whicheloe by virtue of their shareholding in Canynge Properties Limited.