Raybone Developments Limited Filleted accounts for Companies House (small and micro)
Raybone Developments Limited Filleted accounts for Companies House (small and micro)
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS |
COMPANY REGISTRATION NUMBER:
04324302
|
|
FOR THE YEAR ENDED |
|
|
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF
|
YEAR ENDED 31 MARCH 2023
Lifford Hall
Lifford Lane
Kings Norton
Birmingham
B30 3JN
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
2023 |
2022 |
|||
Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
|
|
||
Current assets
Debtors |
|
|
||
Cash at bank and in hand |
|
|
||
-------------- |
-------------- |
|||
|
|
|||
Creditors: amounts falling due within one year |
|
|
||
-------------- |
-------------- |
|||
Net current assets |
|
|
||
-------------- |
-------------- |
|||
Total assets less current liabilities |
|
|
||
-------------- |
-------------- |
|||
Net assets |
|
|
||
-------------- |
-------------- |
|||
Capital and reserves
Called up share capital |
|
|
||
Profit and loss account |
|
|
||
-------------- |
-------------- |
|||
Shareholders funds |
|
|
||
-------------- |
-------------- |
|||
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
|
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 September 2023
, and are signed on behalf of the board by:
|
Director |
Company registration number:
04324302
|
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lifford Hall, Lifford Lane, Kings Norton, Birmingham, B30 3JN.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Attention is drawn to the increased loan liabilities within the company. The company currently has continued support of the owners to introduce capital to cover refurbishment expenses.
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles |
- |
|
|
Impairment of fixed assets
Financial instruments
Hedge accounting
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
£ |
|
Cost |
|
At 1 April 2022 and 31 March 2023 |
|
------------ |
|
Depreciation |
|
At 1 April 2022 |
|
Charge for the year |
|
------------ |
|
At 31 March 2023 |
|
------------ |
|
Carrying amount |
|
At 31 March 2023 |
1,363 |
------------ |
|
At 31 March 2022 |
1,818 |
------------ |
|
6.
Contingencies
There is a cross guarantee and debenture in place between the company and Raybone Developments (Mint) Limited in favour of Santander.
7.
Related party transactions
Amounts owed by Raybone Developments (Mint) Limited, a related party, at the balance sheet date amounted to £1,867,283 (2022: £2,827,912). Amounts owed by Raybone Developments Horizon Limited, a related party, at the balance sheet date amounted to £67,000 (2022: £67,000). Amounts owed by Grant Raybone Developments Limited, a related party, at the balance sheet date amounted to £11,699 (2022: £2,614 owed to). Amounts owed to the director at the balance sheet date are included within creditors and totalled £5,052 (2022: £401,484).