Company No:
Contents
| Directors | P A Barclay |
| A A Oriani |
| Secretary | P A Barclay |
| Registered office | The Cob House |
| Staple Hill | |
| Dartington | |
| Totnes | |
| TQ9 6GZ | |
| United Kingdom |
| Company number | 14775212 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| Springfield House | |
| Springfield Road | |
| Horsham | |
| West Sussex | |
| RH12 2RG |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.
It is your duty to ensure that Ravenstone Droitwich Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ravenstone Droitwich Ltd. You consider that Ravenstone Droitwich Ltd is exempt from the statutory audit requirement for the financial year.
We have not been instructed to carry out an audit or a review of the financial statements of Ravenstone Droitwich Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Springfield Road
Horsham
West Sussex
RH12 2RG
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 4,000,000 | 1,416,707 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 182,511 | 64,605 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (753,044) | (898,302) | ||
| Total assets less current liabilities | 3,246,956 | 518,405 | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Provision for liabilities | 7 | (
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| Net assets/(liabilities) |
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| Capital and reserves | ||||
| Called-up share capital |
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| Revaluation reserve | 9 |
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| Profit and loss account | (
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| Total shareholders' funds/(deficit) |
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Directors' responsibilities:
The financial statements of Ravenstone Droitwich Ltd (registered number:
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P A Barclay
Director |
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.
Ravenstone Droitwich 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 The Cob House, Staple Hill, Dartington, Totnes, TQ9 6GZ, 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 £1.
Notwithstanding the net current liabilities of £753,044 (2024: £898,302) the financial statements have been prepared on a going concern basis. This is because the director is of the opinion that the company has adequate working capital to cover its foreseeable requirements for the next 12 months. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount and to provide for any further liabilities that might arise.
Finance costs are charged to the Profit and Loss Account 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.
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.
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.
The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 April 2024 |
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| Additions | 344,028 |
| Fair value movement | 2,239,265 |
| As at 31 March 2025 |
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The 2025 valuations were made by Capital Value Surveyors Limited on 21 May 2025, on an open market value for existing use basis.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Historic cost | 1,760,735 | 1,416,707 |
| 2025 | 2024 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Amounts owed to related parties |
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| Amounts owed to directors |
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| Accruals and deferred income |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (secured) |
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| £ | £ | ||
| At the beginning of financial year/period |
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| Charged to the Profit and Loss Account | (
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| At the end of financial year/period | (
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The deferred taxation balance is made up as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| Revaluation of investment property | (
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| Tax losses carry forward |
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During the year the company made the following related party transactions:
Rosecroft Homes Limited
(Common control)
During the year the company was provided with a loan from Rosecroft Homes Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Rosecroft Homes Limited was £630,418 (2024: £643,168).
Romana Homes Limited
(Common control)
During the year the Company was provided with a loan from Romana Homes Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due to Romana Homes Limited was £295,862 (2024: £305,112).
Bittasweet Limited
(Connected company)
During the year the Company provided a loan to Bittasweet Limited. The loan is interest free and repayable on demand. At the balance sheet date the amount due from Bittasweet Limited was £663 (2024: £Nil).
Profit and loss reserve
The profit and loss reserve includes all realised accumulated profits and losses.
Investment property revaluation reserve
The investment property revaluation reserve includes all unrealised gains on revaluation of the investment property net of deferred taxation.