IRIS Accounts Production v23.3.0.418 13197792 Board of Directors 1.3.22 28.2.23 28.2.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh131977922022-02-28131977922023-02-28131977922022-03-012023-02-28131977922021-02-10131977922021-02-112022-02-28131977922022-02-2813197792ns10:Originalns15:EnglandWales2022-03-012023-02-2813197792ns14:PoundSterlingns10:Original2022-03-012023-02-2813197792ns10:Originalns10:Director12022-03-012023-02-2813197792ns10:Original2022-03-012023-02-2813197792ns10:Original2023-02-2813197792ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2813197792ns10:Originalns10:SmallEntities2022-03-012023-02-2813197792ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2813197792ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2813197792ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2813197792ns10:Originalns10:FullAccounts2022-03-012023-02-2813197792ns10:Original2021-02-112022-02-2813197792ns10:Originalns10:Director22022-03-012023-02-2813197792ns10:Originalns10:RegisteredOffice2022-03-012023-02-2813197792ns10:Original2022-02-2813197792ns10:Originalns5:CurrentFinancialInstruments2023-02-2813197792ns10:Originalns5:CurrentFinancialInstruments2022-02-2813197792ns10:Originalns5:Non-currentFinancialInstruments2023-02-2813197792ns10:Originalns5:Non-currentFinancialInstruments2022-02-2813197792ns5:ShareCapitalns10:Original2023-02-2813197792ns5:ShareCapitalns10:Original2022-02-2813197792ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2813197792ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-02-2813197792ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2813197792ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2813197792ns10:Originalns5:FurnitureFittings2022-03-012023-02-2813197792ns10:Originalns5:MotorVehicles2022-03-012023-02-2813197792ns10:Originalns5:ComputerEquipment2022-03-012023-02-2813197792ns10:Originalns5:FurnitureFittings2022-02-2813197792ns10:Originalns5:MotorVehicles2022-02-2813197792ns10:Originalns5:ComputerEquipment2022-02-2813197792ns10:Original2022-02-2813197792ns10:Originalns5:FurnitureFittings2023-02-2813197792ns10:Originalns5:MotorVehicles2023-02-2813197792ns10:Originalns5:ComputerEquipment2023-02-2813197792ns10:Originalns5:FurnitureFittings2022-02-2813197792ns10:Originalns5:MotorVehicles2022-02-2813197792ns10:Originalns5:ComputerEquipment2022-02-2813197792ns5:Securedns10:Original2023-02-2813197792ns5:Securedns10:Original2022-02-28
REGISTERED NUMBER: 13197792 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

RKM Homes Limited

RKM Homes Limited (Registered number: 13197792)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RKM Homes Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: K J Maxfield
R Maxfield





REGISTERED OFFICE: Oaklea House
46 Coatham Road
Redcar
TS10 1RS





REGISTERED NUMBER: 13197792 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Oaklea House
46 Coatham Road
Redcar
TS10 1RS

RKM Homes Limited (Registered number: 13197792)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 1,467 1,130
Investment property 4 635,000 350,000
636,467 351,130

CURRENT ASSETS
Debtors 5 3,230 485
Cash at bank 20,231 544
23,461 1,029
CREDITORS
Amounts falling due within one year 6 (170,878 ) (235,695 )
NET CURRENT LIABILITIES (147,417 ) (234,666 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

489,050

116,464

CREDITORS
Amounts falling due after more than one
year

7

(420,679

)

(66,279

)

PROVISIONS FOR LIABILITIES (22,512 ) (14,753 )
NET ASSETS 45,859 35,432

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 9 95,974 62,893
Retained earnings 9 (50,117 ) (27,463 )
45,859 35,432

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

RKM Homes Limited (Registered number: 13197792)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 24 November 2023 and were signed on its behalf by:





K J Maxfield - Director


RKM Homes Limited (Registered number: 13197792)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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.

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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

RKM Homes Limited (Registered number: 13197792)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 408 400 500 1,308
Additions - - 702 702
At 28 February 2023 408 400 1,202 2,010
DEPRECIATION
At 1 March 2022 17 67 94 178
Charge for year 78 83 204 365
At 28 February 2023 95 150 298 543
NET BOOK VALUE
At 28 February 2023 313 250 904 1,467
At 28 February 2022 391 333 406 1,130

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 350,000
Additions 244,160
Revaluations 40,840
At 28 February 2023 635,000
NET BOOK VALUE
At 28 February 2023 635,000
At 28 February 2022 350,000

Properties are required to be disclosed within the financial statements at fair value.

The valuation was made by directors on an open market value basis by reference to market evidence of transaction prices for similar properties. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements.

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Trade debtors 3,230 485

RKM Homes Limited (Registered number: 13197792)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors - 3,201
Directors' current accounts 166,282 231,594
Accrued expenses 950 900
Deferred income 3,646 -
170,878 235,695

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 420,679 66,279

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 420,679 66,279

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 420,679 66,279

9. RESERVES

PROFIT AND LOSS RESERVES

The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES

The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.