Ravensmede Freehold Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05577811

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

Ravensmede Freehold Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B M Vorenberg

SECRETARY:

B M Vorenberg

REGISTERED OFFICE:

6 Vigo Street

London

W1S 3HF

REGISTERED NUMBER:

05577811

ACCOUNTANTS:

Garside and Co. Limited

New Gallery House

6 Vigo Street

Mayfair

London

W1S 3HF

FIXED ASSETS

Tangible assets

3

238,899

238,899

CURRENT ASSETS

Cash at bank

9,853

10,618

CREDITORS

Amounts falling due within one year

4

713

1,012

NET CURRENT ASSETS

9,140

9,606

TOTAL ASSETS LESS CURRENT LIABILITIES

248,039

248,505

CAPITAL AND RESERVES

Called up share capital

21

21

Share premium

-

264,970

Other reserves

264,970

-

Retained earnings

(16,952

)

(16,486

)

SHAREHOLDERS' FUNDS

248,039

248,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 26 November 2019 and were signed by:

B M Vorenberg - Director

1.	STATUTORY INFORMATION

Ravensmede Freehold Company Limited is a private company limited by share capital, incorporated in England

and Wales 05577811.

The address of the registered office is 3rd Floor New Gallery House, 6 Vigo Street, London, W1S 3HF.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with accounting standards issued by the Financial

Reporting Council, including "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

("FRS 102") and the Companies Act 2006.

Going Concern

The Financial Statements are prepared on the going concern basis for the year, under the historical cost

convention, as modified by the revaluation of the tangible fixed assets and comply with the financial reporting

standards of the Financial Reporting Council and the Companies Act 2006.

The financial statements are prepared in Sterling which is the functional currency of the company.

Significant judgements and estimates

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, if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

Tangible fixed assets

Freehold property is carried at their revalued amounts, being fair value at the date of valuation less subsequent

depreciation and impairment losses. Revaluations are performed by professional qualified valuers with sufficient

regularity to ensure that the carrying amounts do not differ materially from those that would be determined using

fair values at the end of each reporting period. Any accumulated depreciation at the date of revaluation is

eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of

the asset.

Any revaluation increase in the carrying amount of freehold property is recognised in other comprehensive

income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation decrease

of the same asset previously recognised in profit or loss, in which case the increase is credited to profit and loss

to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and

debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to

an asset are recognised in profit or loss. Each year the difference between depreciation based on the revalued

carrying amount of the asset recognised in profit or loss and depreciation based on the asset's original cost is

transferred from revaluation reserve to retained earnings.

Other tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided so as to write off the cost or valuation of an asset, less its residual value, over their

estimated useful lives as follows:

Plant & Machinery,etc - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is

recognised in profit or loss, and included in other operating income.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of

the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that

are payable or receivable within one year, typically trade payables or receivables, are measured, initially and

subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a

trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in

case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and

subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt

instrument.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are

measured:

i. At fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can

otherwise be measured reliably;

ii. At cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an

asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective

interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is

the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between

an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company

would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when

there is an 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.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary

shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 June 2018

and 31 May 2019

238,899

NET BOOK VALUE

At 31 May 2019

238,899

At 31 May 2018

238,899

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Other creditors

713

1,012