R & M Property Rentals Limited |
Accountants' Report |
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|
Accountants' report to the directors of |
R & M Property Rentals Limited |
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You consider that the company is exempt from an audit for the year ended 30 June 2022. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
Penningtons Accountants Limited |
Chartered Accountants |
|
86 Ormond Drive |
Hampton |
TW12 2TN |
|
5 September 2022 |
|
R & M Property Rentals Limited |
Registered number: |
06752262 |
Balance Sheet |
as at 30 June 2022 |
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Notes |
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|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
4 |
|
|
3,943,187 |
|
|
3,724,037 |
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Current assets |
Debtors |
5 |
|
358 |
|
|
397 |
Cash at bank and in hand |
|
|
74,312 |
|
|
24,621 |
|
|
|
74,670 |
|
|
25,018 |
|
Creditors: amounts falling due within one year |
6 |
|
(1,992,829) |
|
|
(1,991,667) |
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Net current liabilities |
|
|
|
(1,918,159) |
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(1,966,649) |
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Total assets less current liabilities |
|
|
|
2,025,028 |
|
|
1,757,388 |
|
|
Provisions for liabilities |
|
|
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(274,970) |
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(233,331) |
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Net assets |
|
|
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1,750,058 |
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|
1,524,057 |
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|
|
|
|
|
|
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Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Revaluation reserve |
7 |
|
|
1,126,094 |
|
|
948,582 |
Profit and loss account |
|
|
|
623,864 |
|
|
575,375 |
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Shareholders' funds |
|
|
|
1,750,058 |
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|
1,524,057 |
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|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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Mr M.J Pratt |
Director |
Approved by the board on 5 September 2022 |
|
R & M Property Rentals Limited |
Notes to the Accounts |
for the year ended 30 June 2022 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Income |
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Income reprsents the gross rental income. |
2 |
Going Concern |
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At 30 June 2021, the company had net current laibilities of £1,918,159 [2021- 1,966,649]. The directors of the company are confident that all payments and laibilities will be met as and when they arise. The directors are of the opinion that the financials statements should be drawn up on a going concern basis. |
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3 |
Employees |
2022 |
|
2021 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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|
|
|
|
|
|
|
|
4 |
Tangible fixed assets |
|
|
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Land and buildings |
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Plant and machinery etc |
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Total |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2021 |
3,717,975 |
|
6,062 |
|
3,724,037 |
|
Surplus on revaluation |
219,150 |
|
- |
|
219,150 |
|
At 30 June 2022 |
3,937,125 |
|
6,062 |
|
3,943,187 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
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At 30 June 2022 |
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
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Net book value |
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At 30 June 2022 |
3,937,125 |
|
6,062 |
|
3,943,187 |
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At 30 June 2021 |
3,717,975 |
|
6,062 |
|
3,724,037 |
|
|
5 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
358 |
|
397 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Taxation and social security costs |
12,313 |
|
14,499 |
|
Other creditors |
1,980,516 |
|
1,977,168 |
|
|
|
|
|
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1,992,829 |
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1,991,667 |
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|
|
|
|
|
|
|
|
|
7 |
Revaluation reserve |
2022 |
|
2021 |
£ |
£ |
|
|
At 1 July 2021 |
948,582 |
|
827,082 |
|
Gain on revaluation of land and buildings |
177,512 |
|
121,500 |
|
|
At 30 June 2022 |
1,126,094 |
|
948,582 |
|
|
|
|
|
|
|
|
|
8 |
Profit and loss account |
2022 |
|
2021 |
£ |
£ |
|
At 1 July 2021 |
575,375 |
|
517,561 |
|
Profit for the financial year |
230,001 |
|
183,314 |
|
Dividends |
(4,000) |
|
(4,000) |
|
Transfer to Non Distributable Reserve |
(177,512) |
|
(121,500) |
|
|
|
|
|
|
623,864 |
|
575,375 |
|
|
|
|
|
|
|
|
|
|
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9 |
Related party transactions |
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The amount of £1,475,026.81 [2021- 1,475,026.81] was due to R & M Rentals Ltd at the year end. |
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10 |
Transactions with directors |
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At the balance sheet date the company owed the directors £498,322 [2021- £494,322]. |
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11 |
Other information |
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R & M Property Rentals Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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97-99 Worton Road |
|
Isleworth |
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Middlesex |
|
TW7 6EG |