Ricpat Properties Limited - Period Ending 2023-01-31

Ricpat Properties Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 6

Ricpat Properties Limited

Company Information

Director

Mr Ricky James Lister Pattinson

Registered office

Lion House 400 Durham Road Birtley Co Durham DH3 1LS

Accountants

Chuhan and Singh Partnership Limited Chartered Accountants 81 Borough Road Middlesbrough TS1 3AA

Ricpat Properties Limited

(Registration number: 07119723)
Balance Sheet as at 31 January 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	85	170
Investment properties	5	134,871	134,871
		134,956	135,041
Current assets
Debtors	6	418	310
Cash at bank and in hand		1,371	2,785
		1,789	3,095
Creditors: Amounts falling due within one year	7	(110,305)	(119,178)
Net current liabilities		(108,516)	(116,083)
Total assets less current liabilities		26,440	18,958
Provisions for liabilities		(16)	(32)
Net assets		26,424	18,926
Capital and reserves
Called up share capital		100	100
Retained earnings		26,324	18,826
Shareholders' funds		26,424	18,926

Ricpat Properties Limited

(Registration number: 07119723)
Balance Sheet as at 31 January 2023 (continued)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 October 2023
 

......................................... Mr Ricky James Lister Pattinson Director

Ricpat Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lion House
400 Durham Road
Birtley
Co Durham
DH3 1LS

These financial statements were authorised for issue by the director on 30 October 2023.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents rental income. Rental income is recognised on an accruals basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line

Ricpat Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

2	Accounting policies (continued)

Investment properties

Investment properties are shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 February 2022	255	255
At 31 January 2023	255	255
Depreciation
At 1 February 2022	85	85
Charge for the year	85	85
At 31 January 2023	170	170
Carrying amount
At 31 January 2023	85	85
At 31 January 2022	170	170

5	Investment properties

	2023 £
At 1 February 2022	134,871
At 31 January 2023	134,871

Investment properties are shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

Ricpat Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023 (continued)

6

Debtors

Current	2023 £	2022 £
Other debtors	418	310

7

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Trade creditors	13	766
Taxation and social security	1,775	1,338
Other creditors	108,517	117,074
	110,305	119,178

8	Related party transactions

Included in other creditors is £108,054 (2022: £116,624) owed to the company director and his close family members.