Registered number
10294171
REK Properties Ltd
Filleted Accounts
31 July 2023
REK Properties Ltd
Registered number: 10294171
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 405,630 405,649
Current assets
Debtors 4 8,141 7,978
Cash at bank and in hand 37,972 23,424
46,113 31,402
Creditors: amounts falling due within one year 5 (228,024) (230,038)
Net current liabilities (181,911) (198,636)
Total assets less current liabilities 223,719 207,013
Creditors: amounts falling due after more than one year 6 (161,319) (171,504)
Net assets 62,400 35,509
Capital and reserves
Called up share capital 100 100
Profit and loss account 62,300 35,409
Shareholders' funds 62,400 35,509
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.
Mrs E Bielska
Director
Approved by the board on 17 October 2023
REK Properties Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover includes revenue earned from rental income receivable and from the rendering of services during the year. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract, measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment properties
The company’s properties are held for long-term investment. Investment properties are accounted for as follows:
- Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
- Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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, except for revalued land and investment property, where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 405,630 1,536 407,166
At 31 July 2023 405,630 1,536 407,166
Depreciation
At 1 August 2022 - 1,517 1,517
Charge for the year - 19 19
At 31 July 2023 - 1,536 1,536
Net book value
At 31 July 2023 405,630 - 405,630
At 31 July 2022 405,630 19 405,649
4 Debtors 2023 2022
£ £
Total 8,141 7,978
5 Creditors: amounts falling due within one year 2023 2022
£ £
Total 228,024 230,038
6 Creditors: amounts falling due after one year 2023 2022
£ £
Total 161,319 171,504
7 Other information
REK Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Charlock Close
Thatcham
Berkshire
RG18 4DD
REK Properties Ltd 10294171 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts April 2022 Mrs E Bielska No description of principal activity 10294171 2021-08-01 2022-07-31 10294171 core:WithinOneYear 2022-07-31 10294171 core:AfterOneYear 2022-07-31 10294171 core:ShareCapital 2022-07-31 10294171 core:RetainedEarningsAccumulatedLosses 2022-07-31 10294171 2022-08-01 2023-07-31 10294171 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 10294171 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 10294171 bus:Director40 2022-08-01 2023-07-31 10294171 1 2022-08-01 2023-07-31 10294171 2 2022-08-01 2023-07-31 10294171 core:LandBuildings 2022-08-01 2023-07-31 10294171 core:PlantMachinery 2022-08-01 2023-07-31 10294171 countries:England 2022-08-01 2023-07-31 10294171 bus:FRS102 2022-08-01 2023-07-31 10294171 bus:FullAccounts 2022-08-01 2023-07-31 10294171 2023-07-31 10294171 core:WithinOneYear 2023-07-31 10294171 core:AfterOneYear 2023-07-31 10294171 core:ShareCapital 2023-07-31 10294171 core:RetainedEarningsAccumulatedLosses 2023-07-31 10294171 core:LandBuildings 2023-07-31 10294171 core:PlantMachinery 2023-07-31 10294171 2022-07-31 10294171 core:LandBuildings 2022-07-31 10294171 core:PlantMachinery 2022-07-31 iso4217:GBP xbrli:pure