Company Registration No. 10618297 (England and Wales)
RKT Property Services Limited
Unaudited accounts
for the year ended 28 February 2023
RKT Property Services Limited
Unaudited accounts
Contents
RKT Property Services Limited
Company Information
for the year ended 28 February 2023
Directors
Mrs K L Rushton
Mr R J Turner
Company Number
10618297 (England and Wales)
Registered Office
Upper Barton Farmhouse
Barton Lane
Bradley
Staffordshire
ST18 9EG
United Kingdom
RKT Property Services Limited
Statement of financial position
as at 28 February 2023
Investment property
355,000
355,000
Cash at bank and in hand
1,750
2,896
Creditors: amounts falling due within one year
(118,397)
(117,067)
Net current liabilities
(115,897)
(113,421)
Total assets less current liabilities
239,103
241,579
Creditors: amounts falling due after more than one year
(183,375)
(178,548)
Provisions for liabilities
Deferred tax
(13,674)
(13,674)
Called up share capital
100
100
Revaluation reserve
67,796
67,796
Profit and loss account
(25,842)
(18,539)
Shareholders' funds
42,054
49,357
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by
Mrs K L Rushton
Director
Company Registration No. 10618297
RKT Property Services Limited
Notes to the Accounts
for the year ended 28 February 2023
RKT Property Services Limited is a private company, limited by shares, registered in England and Wales, registration number 10618297. The registered office is Upper Barton Farmhouse, Barton Lane, Bradley, Staffordshire, ST18 9EG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover also represents rental income receivable in the year.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Taxation for the year comprises current and deferred tax, if applicable. 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 statement of financial position date.
RKT Property Services Limited
Notes to the Accounts
for the year ended 28 February 2023
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.
Fair value at 1 March 2022
355,000
At 28 February 2023
355,000
Fair value at 28 February 2023 is represented by:
Cost £283,030
Valuation in 2020 £21,970
Valuation in 2021 £50,000
Investment property was valued on an open market basis on 28 February 2023 by the directors and remains unchanged from the previous year.
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
258
652
Loans from directors
116,067
114,427
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
183,375
178,548
The bank loans are secured by way general charges over all properties held by the company.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £285 (2022 - £382). As at the Balance Sheet date there were contributions payable to the fund in the sum of £34 (2022 - £nil).
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Average number of employees
During the year the average number of employees was 1 (2022: 1).