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Registration number: 07500983

2R Properties Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Period from 1 February 2022 to 31 July 2023

 

2R Properties Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

2R Properties Limited

Company Information

Directors

Mr RON Evans

Mr RL Morgan-Jones

Registered office

20 Mount Stuart Square
Cardiff Bay
Cardiff
South Wales
CF10 5DP

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

2R Properties Limited

(Registration number: 07500983)
Abridged Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

-

219,747

Current assets

 

Debtors

221,214

6,855

Cash at bank and in hand

 

46,427

55,999

 

267,641

62,854

Prepayments and accrued income

 

1

186

Creditors: Amounts falling due within one year

(250,888)

(250,991)

Net current assets/(liabilities)

 

16,754

(187,951)

Total assets less current liabilities

 

16,754

31,796

Accruals and deferred income

 

(1,504)

(749)

Net assets

 

15,250

31,047

Capital and reserves

 

Called up share capital

5

2

2

Profit and loss account

15,248

31,045

Total equity

 

15,250

31,047

 

2R Properties Limited

(Registration number: 07500983)
Abridged Balance Sheet as at 31 July 2023

For the financial period ending 31 July 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

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

Mr RON Evans
Director

 

2R Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 February 2022 to 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
20 Mount Stuart Square
Cardiff Bay
Cardiff
South Wales
CF10 5DP

These financial statements were authorised for issue by the Board on 2 November 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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

Investment property

Investment property is carried at fair value, derived from the current market price for comparable real estate determined annually by the directors. The directors 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 merchandise sold or 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.

 

2R Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 February 2022 to 31 July 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 directors) during the period, was 2 (2022 - 2).

4

Tangible assets

Investment properties

2023
£

At 1 February

219,747

Acquired through business combinations

13,702

Disposals

(233,449)

At 31 July

-

The directors consider that the investment properties are carried at fair value.

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

 

2R Properties Limited

Notes to the Unaudited Abridged Financial Statements for the Period from 1 February 2022 to 31 July 2023

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

6

Related party transactions

Key management personnel

Directors

Summary of transactions with key management

During the period the directors made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the directors was £101,988 (2022 - £101,988).
 

Summary of transactions with other related parties

Relationship: Common directorships and shareholdings
 During the period the company received unsecured, interest free, repayable on demand loans from its related party companies. At the balance sheet date the amount due to the related party companies was £148,900 (2022 - £148,900).