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REGISTERED NUMBER: 11672640 (England and Wales)








Unaudited Financial Statements

for the Year Ended 29 November 2021

for

Rainford Properties Limited

Rainford Properties Limited (Registered number: 11672640)






Contents of the Financial Statements
for the Year Ended 29 November 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Rainford Properties Limited

Company Information
for the Year Ended 29 November 2021







DIRECTOR: T Jones





REGISTERED OFFICE: 11 Hydes Brow
Rainford
St. Helens
United Kingdom
WA11 8PA





REGISTERED NUMBER: 11672640 (England and Wales)





ACCOUNTANTS: Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ

Rainford Properties Limited (Registered number: 11672640)

Balance Sheet
29 November 2021

29.11.21 29.11.20
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 181,104 171,104

CURRENT ASSETS
Debtors 6 650 600
Cash at bank and in hand 448 1,570
1,098 2,170
CREDITORS
Amounts falling due within one year 7 49,720 51,101
NET CURRENT LIABILITIES (48,622 ) (48,931 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,482

122,173

CREDITORS
Amounts falling due after more than
one year

8

(97,000

)

(97,000

)

PROVISIONS FOR LIABILITIES (6,650 ) (4,750 )
NET ASSETS 28,832 20,423

Rainford Properties Limited (Registered number: 11672640)

Balance Sheet - continued
29 November 2021

29.11.21 29.11.20
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 28,350 20,250
Retained earnings 382 73
28,832 20,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 November 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 August 2022 and were signed by:





T Jones - Director


Rainford Properties Limited (Registered number: 11672640)

Notes to the Financial Statements
for the Year Ended 29 November 2021

1. STATUTORY INFORMATION

Rainford Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
(i) Investment property

The fair value of investment property is assessed at each reporting date. An independent qualified surveyor will be appointed periodically to formally value investment property but in the intervening periods the directors will obtain a valuation from an estate agent.

The key factors considered by the directors when valuing the investment property are the condition of the property, market demand and comparability with similar properties in the local area.

Turnover
Turnover represents VAT-exempt rents received.

Revenue recognition
Rent is recognised in the period to which it relates.

Tenant deposits are recognised as income to the extent they are withheld and at the point that the amount to be withheld is formally agreed with the tenant.

Tenant deposits are paid directly into a third party Deposit Protection Scheme by the tenant and are therefore not accounted for in these financial statements.

Investment property
Investment properties are revalued annually with any surplus or deficit being dealt with through profit and loss. No depreciation is provided in respect of investment properties.


Rainford Properties Limited (Registered number: 11672640)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2021

3. ACCOUNTING POLICIES - continued
Current tax
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted and that are expected to apply to the reversal of the timing difference.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 November 2020 171,104
Revaluations 10,000
At 29 November 2021 181,104
NET BOOK VALUE
At 29 November 2021 181,104
At 29 November 2020 171,104

Investment property is comprised of one property, acquired on 22 March 2019 for £140,000 exclusive of stamp duty and fees. The property was revalued as at 29 November 2021 by a local estate agent.

There are no restrictions on the realisability of investment property or on the remittance of income and proceeds of disposal.

The company is contractually obliged to maintain building insurance by its mortgage provider.

Rainford Properties Limited (Registered number: 11672640)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
29.11.21 29.11.20
£    £   
Trade debtors 650 600

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
29.11.21 29.11.20
£    £   
Trade creditors 133 132
Taxation and social security 72 17
Other creditors 49,515 50,952
49,720 51,101

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
29.11.21 29.11.20
£    £   
Bank loans 97,000 97,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 97,000 97,000

9. SECURED DEBTS

The following secured debts are included within creditors:

29.11.21 29.11.20
£    £   
Bank loans 97,000 97,000

The Mortgage Works (UK) plc has a fixed charge over the company's property located at 13 Derby Drive, St Helens, WA11 8EX.

Rainford Properties Limited (Registered number: 11672640)

Notes to the Financial Statements - continued
for the Year Ended 29 November 2021

10. RESERVES
Revaluatio
reserve
£   
At 30 November 2020 20,250
Revaluation reserve transfer 8,100

At 29 November 2021 28,350

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Rainford Properties Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rainford Properties Limited for the year ended 29 November 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Rainford Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rainford Properties Limited and state those matters that we have agreed to state to the director of Rainford Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rainford Properties Limited and its director for our work or for this report.

It is your duty to ensure that Rainford Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rainford Properties Limited. You consider that Rainford Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rainford Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ


Date: .............................................