Richford Property Limited - Accounts to registrar (filleted) - small 18.2

RICHFORD PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

14 DECEMBER 2018 TO 30 SEPTEMBER 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P C Richford

REGISTERED OFFICE:

C/o Richford Motor Services Limited

Dunsford Road

Meadow Lane Industrial Estate

Alfreton

Derbyshire

DE55 7RH

REGISTERED NUMBER:

11728695 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Investment property

4

1,258,829

CURRENT ASSETS

Debtors

5

100

Cash at bank

6,819

6,919

CREDITORS

Amounts falling due within one year

6

478,506

NET CURRENT LIABILITIES

(471,587

)

TOTAL ASSETS LESS CURRENT LIABILITIES

787,242

CREDITORS

Amounts falling due after more than one year

7

787,150

NET ASSETS

92

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(8

)

SHAREHOLDERS' FUNDS

92

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 and authorised for issue on 30 June 2020 and were signed by:

P C Richford - Director

1.	STATUTORY INFORMATION

Richford Property Limited is a private company, limited by shares , registered in England and Wales. The

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,258,829

At 30 September 2019

1,258,829

NET BOOK VALUE

At 30 September 2019

1,258,829

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed by group undertakings

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts (see note 8)

30,402

Amounts owed to group undertakings

447,104

Other creditors

1,000

478,506

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans (see note 8)

787,150

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

655,175

8.

LOANS

An analysis of the maturity of loans is given below:

£

Amounts falling due within one year or on demand:

Bank loans

30,402

Amounts falling due between one and two years:

Bank loans - 1-2 years

31,405

Amounts falling due between two and five years:

Bank loans - 2-5 years

100,570

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

655,175

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

817,552

The bank loan is secured on the freehold property and all other assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

100

Ordinary

£1

100

100 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.