Rates Expert Limited 09933931 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is the provision of real estate business advisory services. Digita Accounts Production Advanced 6.30.9574.0 true 09933931 2022-02-01 2023-01-31 09933931 2023-01-31 09933931 bus:OrdinaryShareClass1 2023-01-31 09933931 core:RetainedEarningsAccumulatedLosses 2023-01-31 09933931 core:ShareCapital 2023-01-31 09933931 core:CurrentFinancialInstruments 2023-01-31 09933931 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 09933931 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 09933931 core:OtherRelatedParties 2023-01-31 09933931 bus:SmallEntities 2022-02-01 2023-01-31 09933931 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 09933931 bus:FullAccounts 2022-02-01 2023-01-31 09933931 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 09933931 bus:RegisteredOffice 2022-02-01 2023-01-31 09933931 bus:Director1 2022-02-01 2023-01-31 09933931 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 09933931 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09933931 core:KeyManagementPersonnel 2022-02-01 2023-01-31 09933931 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-01 2023-01-31 09933931 core:OtherRelatedParties 2022-02-01 2023-01-31 09933931 countries:EnglandWales 2022-02-01 2023-01-31 09933931 2022-01-31 09933931 core:OtherRelatedParties 2022-01-31 09933931 2021-02-01 2022-01-31 09933931 2022-01-31 09933931 bus:OrdinaryShareClass1 2022-01-31 09933931 core:RetainedEarningsAccumulatedLosses 2022-01-31 09933931 core:ShareCapital 2022-01-31 09933931 core:CurrentFinancialInstruments 2022-01-31 09933931 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 09933931 core:OtherRelatedParties 2022-01-31 09933931 2021-01-31 09933931 core:OtherRelatedParties 2021-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09933931

Rates Expert Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2023

 

Rates Expert Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Rates Expert Limited

Company Information

Director

Simon Alexander Wanderer

Registered office

2nd Floor Rico House
George Street
Prestwich
Manchester
M25 9WS

Accountants

Gordon Levy Limited
Chartered Accountants
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

 

Rates Expert Limited

(Registration number: 09933931)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

45,000

-

Current assets

 

Debtors

5

21,451

29,726

Cash at bank and in hand

 

40,358

20,513

 

61,809

50,239

Creditors: Amounts falling due within one year

6

(37,946)

(2,040)

Net current assets

 

23,863

48,199

Net assets

 

68,863

48,199

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

68,862

48,198

Shareholders' funds

 

68,863

48,199

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
Simon Alexander Wanderer
Director

 

Rates Expert Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
2nd Floor Rico House
George Street
Prestwich
Manchester
M25 9WS

These financial statements were authorised for issue by the director on 17 October 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current 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.

 

Rates Expert Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

Additions

45,000

At 31 January

45,000

There has been no valuation of investment property by an independent valuer during the year.

 

Rates Expert Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

8,646

16,378

Amounts owed by related parties

8

12,200

12,200

Prepayments

 

605

605

Other debtors

 

-

543

   

21,451

29,726

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

-

1,020

Amounts due to related parties

8

35,968

-

Accruals

 

1,020

1,020

Income tax liability

958

-

 

37,946

2,040

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Rates Expert Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

8

Related party transactions

Summary of transactions with other related parties

Loans to other related parties amount, presented below, is a loan to Simons W Land Limited, a company under common control with the reporting entity.
 

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

12,200

12,200

At end of period

12,200

12,200

2022

Other related parties
£

Total
£

At start of period

12,200

12,200

At end of period

12,200

12,200

Terms of loans to related parties

Loans to other related parties are unsecured, interest free and repayable on demand.

Loans from related parties

2023

Key management
£

Total
£

Advanced

35,968

35,968

At end of period

35,968

35,968

Terms of loans from related parties

Loans from key management are unsecured, interest free and repayable on demand.