|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RYE PARTNERSHIP |
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RYE PARTNERSHIP |
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 | to | 3 |
|
Notes to the Financial Statements | 4 | to | 7 |
|
RYE PARTNERSHIP |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Landgate Chambers |
Rye |
East Sussex |
TN31 7LJ |
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
BALANCE SHEET |
31 MARCH 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than
one year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
RESERVES |
Revaluation reserve | 11 |
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
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. |
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
BALANCE SHEET - continued |
31 MARCH 2019 |
|
|
|
|
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 on
on its behalf by: |
|
|
|
|
|
|
|
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
1. | STATUTORY INFORMATION |
|
Rye Partnership is a
|
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 |
|
|
Turnover |
Turnover represents grant income and invoiced costs (net of VAT), net of provision for deferred |
income as appropriate, relating to activities undertaken in the period. |
|
Tangible fixed assets |
|
Long leasehold | - |
|
Office equipment | - |
|
|
In the directors' opinion the properties are investment properties and as such are not depreciated |
but are revalued periodically to their estimated market value. |
|
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. |
|
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. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to profit or loss in the period to which they relate. |
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Government grants |
Government, including local government, grants received during the year are categorised into |
income and capital grants. Income grants are taken to income in the year of receipt, provided the |
related expenditure has also been incurred. Capital grants are capitalised and amortised over a |
suitable period relevant to the asset acquired. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Long | Office |
leasehold | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2018 |
|
|
|
Additions |
|
|
|
At 31 March 2019 |
|
|
|
DEPRECIATION |
At 1 April 2018 |
|
|
|
Charge for year |
|
|
|
Impairments |
|
|
|
At 31 March 2019 |
|
|
|
NET BOOK VALUE |
At 31 March 2019 |
|
|
|
At 31 March 2018 |
|
|
|
|
The Leasehold properties are not available for resale and have 82 years of their lease remaining |
(from an original grant of 99 years). As a result the directors believe their value has been impaired |
to reflect the reducing value of the depreciating lease term. |
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2018 |
and 31 March 2019 |
|
NET BOOK VALUE |
At 31 March 2019 |
|
At 31 March 2018 |
|
|
Fair value at 31 March 2019 is represented by: |
|
£ |
Valuation in 2014 | 124,640 |
Valuation in 2015 | 8,360 |
Cost | 172,000 |
305,000 |
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
|
|
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
In more than five years |
|
|
|
|
|
The annual leasing commitments total £24,160. |
|
10. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2019 | 2018 |
£ | £ |
Bank loans |
|
|
|
Security for loans and overdraft balances at the year end have been given against Rye Harbour |
Stores. |
|
Furthermore security has been given to Rother District Council against the residential rental |
properties for their nominated rights. These reduce on a daily basis, with a potential liability at the |
year end of less than £10,000 in aggregate. |
RYE PARTNERSHIP (REGISTERED NUMBER: 04675657) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2018 |
and 31 March 2019 |
|
|
12. | SHARE CAPITAL |
|
The company is limited by guarantee, and therefore has no share capital. The guarantees are |
limited to a maximum of £1 each, and there were 33 guarantors at the year end. |