Ribbledale Estates Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07856616 (England and Wales)

Financial Statements for the Year Ended 30 April 2017

for

Ribbledale Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Carmichael

REGISTERED OFFICE:

PO Box 82

Appletree House

Liverpool

L19 0WD

REGISTERED NUMBER:

07856616 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Investments

3

3,538

3,538

Investment property

4

844,000

775,000

847,538

778,538

CURRENT ASSETS

Debtors

5

163,821

32,054

Cash at bank

1

84

163,822

32,138

CREDITORS

Amounts falling due within one year

6

38,209

20,171

NET CURRENT ASSETS

125,613

11,967

TOTAL ASSETS LESS CURRENT LIABILITIES

973,151

790,505

CREDITORS

Amounts falling due after more than one year

7

(486,568

)

(402,592

)

PROVISIONS FOR LIABILITIES

(88,394

)

(74,995

)

NET ASSETS

398,189

312,918

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

9

3,438

3,438

Retained earnings

9

394,551

309,280

SHAREHOLDERS' FUNDS

398,189

312,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 31 January 2018 and were signed by:

R Carmichael - Director

1.	STATUTORY INFORMATION

Ribbledale Estates 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Turnover represents rents received.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Financial instruments

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

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.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2016

and 30 April 2017

3,538

NET BOOK VALUE

At 30 April 2017

3,538

At 30 April 2016

3,538

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

775,000

Revaluations

69,000

At 30 April 2017

844,000

NET BOOK VALUE

At 30 April 2017

844,000

At 30 April 2016

775,000

Fair value at 30 April 2017 is represented by:

£

Valuation in 2013

299,795

Valuation in 2014

75,000

Valuation in 2017

69,000

Cost

400,205

844,000

Investment property was revalued in 2013 by Edward Symmons and again in 2014 and 2017 by the director.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

613

2,412

Other debtors

163,208

29,642

163,821

32,054

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

33,432

18,000

Trade creditors

1,504

240

Taxation and social security

1,972

1,931

Other creditors

1,301

-

38,209

20,171

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans

486,568

402,592

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Bank loans

520,000

420,592

9.

RESERVES

Profit and loss account includes all current and prior period retained profit and losses. £368,800 of the profit and

loss account at 30th April 2017 (2016 £299,800) is non-distributable. The non-distributable element of the profit

and loss account relates to investment property revaluation gains, net of related deferred taxation.

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R Carmichael.