Ryan Enterprise London Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08948707 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Ryan Enterprise London Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Siabi

Mrs T Siabi

Miss E Siabi

R Siabi

REGISTERED OFFICE:

10 Nelmes Road

Hornchurch

Essex

RM11 3JA

REGISTERED NUMBER:

08948707 (England and Wales)

ACCOUNTANTS:

S C Devlin Accountancy Ltd

Chartered Certified Accountants

101 Chandlers Way

Temple Farm Industrial Estate

Southend-on-Sea

Essex

SS2 5SE

FIXED ASSETS

Tangible assets

4

4,853

6,066

Investment property

5

1,824,469

1,189,192

1,829,322

1,195,258

CURRENT ASSETS

Debtors

6

157

690

Cash at bank

7,171

1,411

7,328

2,101

CREDITORS

Amounts falling due within one year

7

1,606,185

1,206,130

NET CURRENT LIABILITIES

(1,598,857

)

(1,204,029

)

TOTAL ASSETS LESS CURRENT LIABILITIES

230,465

(8,771

)

PROVISIONS FOR LIABILITIES

8

42,876

-

NET ASSETS/(LIABILITIES)

187,589

(8,771

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

187,489

(8,871

)

SHAREHOLDERS' FUNDS

187,589

(8,771

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 19 December 2021 and were signed on its behalf by:

N Siabi - Director

1.	STATUTORY INFORMATION

Ryan Enterprise London Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover

The company activities are of property acquisition and development for sale and rental.

Turnover in 2021 represents rental income received.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

Investment property

In the opinion of the directors and in consultation with property market agents, the value of the property is not materially different to the fair valuation obtained in 2019 and which forms the basis of the revaluation disclosed in the company accounts for 2021.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

7,017

DEPRECIATION

At 1 April 2020

951

Charge for year

1,213

At 31 March 2021

2,164

NET BOOK VALUE

At 31 March 2021

4,853

At 31 March 2020

6,066

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

1,189,192

Additions

414,469

Revaluations

220,808

At 31 March 2021

1,824,469

NET BOOK VALUE

At 31 March 2021

1,824,469

At 31 March 2020

1,189,192

The company's investment properties consist of two properties, one held in York, the construction of which is complete and consists of multiple residential units. A yield in part for occupied units forms the turnover for the year.The property was not fully let.

A completed valuation was been undertaken by Carter Jonas LLP and forms the fair value adjustment reported in the accounts on the York property only.

A second property was in the course of construction at the balance sheet date shown in additions.

No valuation or fair value adjustment has been made at this time. This property is also held for its rental yield.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

157

690

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

1,230

600

Taxation and social security

1,103

278

Other creditors

1,603,852

1,205,252

1,606,185

1,206,130

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

42,876

-

Deferred

tax

£

Accelerated capital allowances

922

Investment property valuation

41,954

Balance at 31 March 2021

42,876

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed the director N Siabi £1,597,826 as at 31 March 2021 (2020 - £1,205,252).

There is no interest being charged and no fixed repayment date.

The director has privately funded the acquisition and development of the comapny's investment properties.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is N Siabi.