ACCOUNTS - Final Accounts

Analysis of the maturity of loans is given below:

RAVINE ROAD LIMITED - Company Information

Registered number: 05559078

RAVINE ROAD LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020


RAVINE ROAD LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 5


RAVINE ROAD LIMITED REGISTERED NUMBER:05559078

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Investment property	4		416,601		416,601
Current assets
Debtors: amounts falling due within one year	5	9,934		1,961
Cash at bank and in hand		174		1,265
		10,108		3,226
Current liabilities
Creditors: amounts falling due within one year	6	(12,985)		(8,433)
Net current liabilities			(2,877)		(5,207)
Total assets less current liabilities			413,724		411,394
Creditors: amounts falling due after more than one year	7		(391,949)		(394,007)
Net assets			21,775		17,387

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		21,675	17,287
		21,775	17,387

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 July 2021.

D Reichmann

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1


RAVINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

Ravine Road Limited is a limited company incorporated in England and Wales with its registered office at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. Its principal business address is at Cavendish House, 369 Burnt Oak Broadway, Edgware, Middlesex, HA8 5AW.
The principal activity of the Company is that of property investment.
The Company's functional and presentational currency is £ sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The directors are satisfied that projected rental income will be sufficient to meet ongoing running costs and loan interest commitments for at least 12 months from the date of their approval of these financial statements. Based on the above the directors consider it appropriate to prepare the financial statements on a going concern basis.
The Directors have considered the impact of ongoing worldwide events in relation to the COVID-19 pandemic and are satisfied that the company remains a going concern for the reason set out above.

2.3

Revenue

Turnover represents amounts receivable for rents net of VAT. Rents are accounted for in the period to which they relate.

2.4

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

2.5

Debtors

Short term debtors are measured at the transaction price.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from banks and related parties.

2.7

Creditors

Short term creditors are measured at the transaction price.

Page 2


RAVINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.8

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the period in which they are incurred.

2.10

Taxation

Tax is recognised in the Statement of Comprehensive Income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Employees

The directors were the only employees of the Company during the current and preceding year.

4.	Investment property

		Investment properties
		£
	Valuation
	At 1 January 2020	416,601
	At 31 December 2020	416,601

The 2020 valuations were made by directors, on an open market value for existing use basis.

Page 3


RAVINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Debtors

					2020	2019
					£	£


Trade debtors	874	875
Other debtors	8,600	100
Prepayments and accrued income	460	986
	9,934	1,961

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Corporation tax	1,030	-
Other creditors	3,000	3,300
Accruals and deferred income	8,955	5,133
	12,985	8,433

7.	Creditors: Amounts falling due after more than one year
		2020	2019
		£	£

	Bank loans	391,949	394,007

The mortgage loans are secured by first charges on the freehold investment properties.

Amounts falling due after more than 5 years
Bank loans	391,949	394,007

Page 4


RAVINE ROAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

9.	Share capital
		2020	2019
		£	£

Allotted, called up and fully paid

100 (2019 - 100) Ordinary shares of £1 each	100	100

10.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2020 was unqualified.

The audit report was signed on 8 July 2021 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 5