Ryton Park Homes Limited 11941964 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is property development and short term property letting Digita Accounts Production Advanced 6.30.9574.0 true true 11941964 2023-10-01 2024-09-30 11941964 2024-09-30 11941964 core:RetainedEarningsAccumulatedLosses 2024-09-30 11941964 core:ShareCapital 2024-09-30 11941964 core:CurrentFinancialInstruments 2024-09-30 11941964 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11941964 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 11941964 core:MoreThanFiveYears 2 2024-09-30 11941964 bus:SmallEntities 2023-10-01 2024-09-30 11941964 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11941964 bus:FilletedAccounts 2023-10-01 2024-09-30 11941964 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11941964 bus:Director1 2023-10-01 2024-09-30 11941964 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11941964 countries:AllCountries 2023-10-01 2024-09-30 11941964 2022-10-01 2023-09-30 11941964 2023-09-30 11941964 core:RetainedEarningsAccumulatedLosses 2023-09-30 11941964 core:ShareCapital 2023-09-30 11941964 core:CurrentFinancialInstruments 2023-09-30 11941964 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 11941964 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 11941964 core:MoreThanFiveYears 2 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 11941964

Ryton Park Homes Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Ryton Park Homes Limited

(Registration number: 11941964)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Stocks

6,278,642

6,278,642

Debtors

3

51,731

31,381

Cash at bank and in hand

 

7,878

19,288

 

6,338,251

6,329,311

Creditors: Amounts falling due within one year

4

(2,390,992)

(2,410,086)

Total assets less current liabilities

 

3,947,259

3,919,225

Creditors: Amounts falling due after more than one year

4

(3,948,750)

(3,948,750)

Net liabilities

 

(1,491)

(29,525)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(1,493)

(29,527)

Shareholders' deficit

 

(1,491)

(29,525)

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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................

G Beech

Director

 

Ryton Park Homes Limited

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

1

Accounting policies

Statutory information

Ryton Park Homes Limited is a private company, limited by shares, domiciled in England and Wales, company number 11941964. The registered office is at Agility House, Rose Lane, Mansfield Woodhouse, Nottinghamshire, NG19 8BA.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Going concern

Due to the on-going support of creditors and after due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

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.

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.

Stocks

Stock is valued at the lower of cost and net realisable value.

 

Ryton Park Homes Limited

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

1

Accounting policies (continued)

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

3

Debtors

2024
£

2023
£

Amounts owed by related undertakings

51,333

9,328

Prepayments

-

21,697

Other debtors

398

356

 

51,731

31,381

 

Ryton Park Homes Limited

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

4

Creditors

2024
£

2023
£

Due within one year

Trade creditors

5,891

31,390

Amounts owed to related undertakings

181,107

159,757

Accruals and deferred income

11,895

11,840

Directors loan account

2,192,099

2,207,099

2,390,992

2,410,086

2024
£

2023
£

Due after one year

Bank loan

3,948,750

3,948,750

Included in bank loans are the following amounts due after more than five years:

Bank loan after five years

Borrowings comprise an amount due to Shawbrook Bank. This is repayable in line with the terms of the loan. The loan is interest only over 10 years with interest charged on a monthly basis at 4.99% per annum. The loan is repayable on 9 March 2033.

The bank loan is secured on Ryton Park, Memorial Avenue, Worksop, Nottinghamshire, S80 2BW.

2024
£

2023
£

Due after more than five years

After more than five years not by instalments

3,948,750

3,948,750

5

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the amount owing to the directors was £2,192,099 (2023: £2,207,099). The loan is interest free.