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Registration number: 03484301

R & K Enterprises Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2022 to 30 April 2023

 

R & K Enterprises Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

R & K Enterprises Limited

Company Information

Directors

Mrs RK Smallwood

Mr RC Smallwood

Registered office

Maria House
35 Millers Road
Brighton
BN1 5NP

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

R & K Enterprises Limited

(Registration number: 03484301)
Balance Sheet as at 30 April 2023

Note

2023
£

2021
£

Fixed assets

 

Tangible assets

4

92,541

56,487

Investment property

5

1,361,921

3,647,905

 

1,454,462

3,704,392

Current assets

 

Debtors

6

14,474

76,688

Cash at bank and in hand

 

2,680,892

113,961

 

2,695,366

190,649

Creditors: Amounts falling due within one year

7

(987,078)

(229,999)

Net current assets/(liabilities)

 

1,708,288

(39,350)

Total assets less current liabilities

 

3,162,750

3,665,042

Provisions for liabilities

(15,951)

(118,820)

Net assets

 

3,146,799

3,546,222

Capital and reserves

 

Called up share capital

10

2

2

Fair Value Reserve

-

1,200,728

Retained earnings

3,146,797

2,345,492

Shareholders' funds

 

3,146,799

3,546,222

For the financial period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

R & K Enterprises Limited

(Registration number: 03484301)
Balance Sheet as at 30 April 2023

Approved and authorised by the Board on 30 September 2023 and signed on its behalf by:



 

.........................................

Mr RC Smallwood

Director

 

R & K Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 April 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:
Maria House
35 Millers Road
Brighton
BN1 5NP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis for investment properties as specified in the accounting policies below.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

R & K Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Fixtures and Fittings

25% reducing balance

Office equipment

25% reducing balance

Investment property

Investment property is carried at fair value. Gains are recognised in the profit and loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Non-distributable reserve

 

R & K Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 April 2023

The aggregate fair value adjustments relating to movements in the value of the company's investment properties are transferred at the end of each period, net of deferred tax, from the profit and loss reserve to the non-distributable reserve.

On disposal of investment property the aggregate fair value adjustment is transferred back to profit and loss reserves and the deferred tax provision is transferred to current tax liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2021 - 3).

 

R & K Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 April 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

244,360

244,360

Additions

74,697

74,697

At 30 April 2023

319,057

319,057

Depreciation

At 1 January 2022

187,873

187,873

Charge for the period

38,643

38,643

At 30 April 2023

226,516

226,516

Carrying amount

At 30 April 2023

92,541

92,541

At 31 December 2021

56,487

56,487

5

Investment properties

2023
£

At 1 January

3,647,905

Acquired through business combinations

214,016

Transfers to and from stocks

(2,500,000)

At 30 April

1,361,921

6

Debtors

Current

2023
£

2021
£

Trade debtors

8,115

1,575

Prepayments

479

7,275

Other debtors

5,880

67,838

 

14,474

76,688

 

R & K Enterprises Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2022 to 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2021
£

Due within one year

 

Loans and borrowings

8

10,349

1,973

Trade creditors

 

2,403

1,906

Taxation and social security

 

469,521

43,860

Accruals and deferred income

 

8,355

5,567

Other creditors

 

496,450

176,693

 

987,078

229,999

8

Loans and borrowings

2023
£

2021
£

Current loans and borrowings

Bank overdrafts

10,349

1,973

9

Dividends

   

2023

 

2021

   

£

 

£

Interim dividend of £700,000.00 (2021 - £Nil) per ordinary share

 

1,450,000

 

-

         

10

Share capital

Allotted, called up and fully paid shares

 

2023

2021

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2