REGISTERED NUMBER: |
R S L (SLOUGH) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
REGISTERED NUMBER: |
R S L (SLOUGH) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
Page |
Statement of Financial Position | 1 | to | 2 |
Notes to the Financial Statements | 3 | to | 6 |
Reconciliation of Equity | 7 | to | 8 |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
1. | STATUTORY INFORMATION |
R S L (Slough) Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 31 October 2022 are the first that are prepared in |
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance |
with FRS 105, the date of transition to FRS 102 Section 1A is 1 November 2021. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. |
Revenue from the sale of goods and services is recognised when goods are delivered, and legal title has passed. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
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. |
Financial instruments |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. |
Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of future payments. |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2021 |
and 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
Fair value at 31 October 2022 is represented by: |
£ |
Valuation in 2022 | 3,037,445 |
Cost | 6,262,555 |
9,300,000 |
If had not been revalued would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 6,262,555 | 6,262,555 |
Investment properties were valued on an open market basis on 31 October 2022 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
The loan is secured by a fixed and floating charge over the assets of the company. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 1,470,786 | 1,629,338 |
The loan is secured by a fixed and floating charge over the assets of the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £ 1 | 100 | 100 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
R S L (Slough) Limited lent Far Reach Solutions Limited amounting to £185,731 (2021-£234,831) and the company did not charge any interest. |
Far Reach Solutions Limited controlled by Mr R Laly by virtue of his 100% shareholder. |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
RECONCILIATION OF EQUITY - continued |
1 NOVEMBER 2020 |
(DATE OF TRANSITION TO FRS 102) |
Effect of |
transition |
FRS 105 | to FRS 102 | FRS 102 |
Not | es | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 818 | 818 |
Investment property | 5,842,668 | 5,842,668 |
5,843,486 | 5,843,486 |
CURRENT ASSETS |
Debtors | 348,313 | 348,313 |
Cash at bank and in hand | 7,690 | 7,690 |
356,003 | 356,003 |
CREDITORS |
Amounts falling due within one year | (1,058,199 | ) | (1,058,199 | ) |
NET CURRENT LIABILITIES | (702,196 | ) | (702,196 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
5,141,290 |
5,141,290 |
CREDITORS |
Amounts falling due after more than one year |
(3,295,641 |
) |
(3,295,641 |
) |
PROVISIONS FOR LIABILITIES | - | ( |
) | (156 | ) |
NET ASSETS | 1,845,649 | ( |
) | 1,845,493 |
CAPITAL AND RESERVES |
Called up share capital | 100 | 100 |
Retained earnings | 1,845,549 | ( |
) | 1,845,393 |
SHAREHOLDERS' FUNDS | 1,845,649 | ( |
) | 1,845,493 |
R S L (SLOUGH) LIMITED (REGISTERED NUMBER: 04162518) |
RECONCILIATION OF EQUITY - continued |
31 OCTOBER 2021 |
Effect of |
transition |
FRS 105 | to FRS 102 | FRS 102 |
Not | es | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 1,612 | 1,612 |
Investment property | 5,718,935 | 9,300,000 |
5,720,547 | 9,301,612 |
CURRENT ASSETS |
Debtors | 234,831 | 234,831 |
Cash at bank and in hand | 202 | 202 |
235,033 | 235,033 |
CREDITORS |
Amounts falling due within one year | (1,489,934 | ) | (1,489,934 | ) |
NET CURRENT LIABILITIES | (1,254,901 | ) | (1,254,901 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
4,465,646 |
8,046,711 |
CREDITORS |
Amounts falling due after more than one year |
(2,465,430 |
) |
(2,465,430 |
) |
PROVISIONS FOR LIABILITIES | - | ( |
) | (759,668 | ) |
NET ASSETS | 2,000,216 | 4,821,613 |
CAPITAL AND RESERVES |
Called up share capital | 100 | 100 |
Retained earnings | 2,000,116 | 4,821,513 |
SHAREHOLDERS' FUNDS | 2,000,216 | 4,821,613 |