Ritchie Realisation Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC085698 (Scotland)

Financial Statements for the Year Ended 31 March 2019

for

Ritchie Realisation Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G F Ritchie

REGISTERED OFFICE:

7 South Headlands Crescent

Newtonhill

Stonehaven

AB39 3TT

REGISTERED NUMBER:

SC085698 (Scotland)

ACCOUNTANTS:

Findlay Brown Ltd

Chartered Certified Accountants

53 Huntly Street

Aberdeen

AB10 1TH

FIXED ASSETS

Tangible assets

3

19,130

25,170

Investment property

4

958,290

976,877

977,420

1,002,047

CURRENT ASSETS

Debtors

25,602

6,043

Cash at bank

8,309

26,177

33,911

32,220

CREDITORS

Amounts falling due within one year

261,812

242,531

NET CURRENT LIABILITIES

(227,901

)

(210,311

)

TOTAL ASSETS LESS CURRENT LIABILITIES

749,519

791,736

CREDITORS

Amounts falling due after more than one year

-

(14,879

)

PROVISIONS FOR LIABILITIES

(87,647

)

(91,364

)

NET ASSETS

661,872

685,493

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

611,872

635,493

SHAREHOLDERS' FUNDS

661,872

685,493

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 2 December 2019 and were signed by:

G F Ritchie - Director

1.	STATUTORY INFORMATION

Ritchie Realisation Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment Property Equipment

-

straight line over 2 years

Motor vehicles

-

20% on cost

Computer equipment

-

20% on reducing balance

Investment property

The investment properties were previously accounted for under the FRSSE (effective January 2015), which

required gains and losses on the property's open market value to be taken to a revaluation reserve in equity. The

properties are being measured at fair value under FRS 102 at deemed cost and depreciated at 2% per annum on

the buildings element (no depreciation on the land element).

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

60,517

Additions

4,229

Disposals

(2,033

)

At 31 March 2019

62,713

DEPRECIATION

At 1 April 2018

35,347

Charge for year

9,289

Eliminated on disposal

(1,053

)

At 31 March 2019

43,583

NET BOOK VALUE

At 31 March 2019

19,130

At 31 March 2018

25,170

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

1,032,638

DEPRECIATION

At 1 April 2018

55,761

Charge for year

18,587

At 31 March 2019

74,348

NET BOOK VALUE

At 31 March 2019

958,290

At 31 March 2018

976,877

Included in fair value of investment property is freehold land of £ 103,263 (2018 - £ 103,263 ) which is not

depreciated.

5.	RELATED PARTY DISCLOSURES

Mr & Mrs Ritchie lent the company loans, balance £235,000 (2016 £235,000). The loans are interest free with no

fixed terms of repayment.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is G F Ritchie.