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Company No: 01388130 (England and Wales)

RYELANDS BUSINESS PARK LIMITED

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

RYELANDS BUSINESS PARK LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RYELANDS BUSINESS PARK LIMITED

BALANCE SHEET

As at 30 September 2024
RYELANDS BUSINESS PARK LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 99,412 381,167
Investment property 5 5,666,838 1,378,501
Investments 6 2 2
5,766,252 1,759,670
Current assets
Debtors 7 44,729 162,436
Cash at bank and in hand 1,704,546 1,633,129
1,749,275 1,795,565
Creditors: amounts falling due within one year 8 ( 775,138) ( 877,757)
Net current assets 974,137 917,808
Total assets less current liabilities 6,740,389 2,677,478
Creditors: amounts falling due after more than one year 9 ( 500,000) ( 500,000)
Provision for liabilities ( 324,769) ( 31,025)
Net assets 5,915,620 2,146,453
Capital and reserves
Called-up share capital 133 133
Undistributable reserve 2,693,399 0
Profit and loss account 3,222,088 2,146,320
Total shareholders' funds 5,915,620 2,146,453

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 Ryelands Business Park Limited (registered number: 01388130) were approved and authorised for issue by the Board of Directors on 27 June 2025. They were signed on its behalf by:

Mr R J Hunt
Director
RYELANDS BUSINESS PARK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RYELANDS BUSINESS PARK LIMITED

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 year, unless otherwise stated.

General information and basis of accounting

Ryelands Business Park Limited (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 The Firs, Bagley Road, Rockwell Green, Wellington, TA21 9QD, United Kingdom.

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 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents and similar recharges as well as storage facility services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Rent and storage facility revenue is recognised in the period to which it relates, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 15 years straight line
Assets under construction not depreciated
Plant and machinery 4 - 10 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date derived from discounted future expected returns over the course of the lease with changes in fair value 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at X. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 15,000 15,000
At 30 September 2024 15,000 15,000
Accumulated amortisation
At 01 October 2023 15,000 15,000
At 30 September 2024 15,000 15,000
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Assets under construc-
tion
Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £ £
Cost
At 01 October 2023 76,812 242,527 810,776 6,250 49,287 1,185,652
Additions 0 388,354 867 0 0 389,221
Disposals 0 ( 630,881) 0 0 0 ( 630,881)
At 30 September 2024 76,812 0 811,643 6,250 49,287 943,992
Accumulated depreciation
At 01 October 2023 54,180 0 695,288 6,250 48,767 804,485
Charge for the financial year 5,151 0 34,729 0 215 40,095
At 30 September 2024 59,331 0 730,017 6,250 48,982 844,580
Net book value
At 30 September 2024 17,481 0 81,626 0 305 99,412
At 30 September 2023 22,632 242,527 115,488 0 520 381,167

5. Investment property

Investment property
£
Valuation
As at 01 October 2023 1,378,501
Additions 632,659
Fair value movement 3,655,678
As at 30 September 2024 5,666,838

Valuation

There has been no valuation of investment property by an independent valuer.

6. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 2
At 30 September 2024 2
Carrying value at 30 September 2024 2
Carrying value at 30 September 2023 2

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.09.2024
Ownership
30.09.2023
Wellington Self Storage Limited Badley Road, Rockwell Green, Wellington, Somerset, TA21 9PZ Dormant Ordinary shares 100.00% 100.00%

7. Debtors

2024 2023
£ £
Trade debtors 17,807 12,269
Other debtors 26,922 150,167
44,729 162,436

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 75,596 254,381
Amounts owed to Group undertakings 2 2
Taxation and social security 250,209 143,779
Other creditors 449,331 479,595
775,138 877,757

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 500,000 500,000

There are no amounts included above in respect of which any security has been given by the small entity.

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 80,000 25,000
between one and five years 540,000 31,250
after five years 168,750 0
788,750 56,250

11. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan accounts are repayable on demand.

At 1 October 2023, the balance owed by D Hunt was £4,575. During the year, £42,568 was advanced to D Hunt, and £30,880 was repaid by D Hunt. At 30 September 2024, the balance owed by D Hunt was £16,263.

At 1 October 2022, the balance owed by D Hunt was £55,327. During the year, £25,226 was advanced to D Hunt, and £75,978 was repaid by D Hunt. At 30 September 2023, the balance owed by D Hunt was £4,575.