RAYBRIDGE_PROPERTIES_LIMI - Accounts

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Raybridge Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Cotswold Business Park, Millfield Lane, Caddington, Bedfordshire, LU1 4AJ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

The company reporting period has been shortened by two days and is consequently for a period of less than one year. The accounting period was shortened to facilitate a longer filing period for the accounts. The results are not comparable with the previous accounting period.

Turnover is recognised at the fair value of the consideration received or receivable in respect of legal exchanges of residential properties during the year.

Work in progress is valued at the lower of cost and net realisable value.

Cost includes the purchase price of the land and associated costs, the value of the building work completed at the balance sheet date and direct project costs.

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities in the accounts. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities recognised on this basis in the balance sheet include trade and other debtors, cash and bank balances, trade, taxation, other loans, other creditors and a bank loan.

All basic financial instruments are initially measured at transaction price and then carried at that amount less any provision for impairment, where relevant.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the period was 0 (2017 - 0).

The bank loan is secured by a legal charge and mortgage debenture over the assets of the company.

Other creditors are secured by a legal charge over the land owned by the company.