2 false false false false false false false false true false true true true false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,538 1,164 4,374 2,315 1,426 1,115 2,626 1,748 3,223 1,009,038 55,962 1,065,000 1,065,000 1,009,038 xbrli:pure xbrli:shares iso4217:GBP 11199787 2022-03-01 2023-02-28 11199787 2023-02-28 11199787 2022-02-28 11199787 2021-03-01 2022-02-28 11199787 2022-02-28 11199787 2021-02-28 11199787 core:FurnitureFittings 2022-03-01 2023-02-28 11199787 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 11199787 bus:Director1 2022-03-01 2023-02-28 11199787 bus:Director2 2022-03-01 2023-02-28 11199787 core:FurnitureFittings 2022-02-28 11199787 core:FurnitureFittings 2023-02-28 11199787 core:WithinOneYear 2023-02-28 11199787 core:WithinOneYear 2022-02-28 11199787 core:AfterOneYear 2023-02-28 11199787 core:AfterOneYear 2022-02-28 11199787 core:UKTax 2021-03-01 2022-02-28 11199787 core:ShareCapital 2023-02-28 11199787 core:ShareCapital 2022-02-28 11199787 core:RetainedEarningsAccumulatedLosses 2023-02-28 11199787 core:RetainedEarningsAccumulatedLosses 2022-02-28 11199787 core:CostValuation core:Non-currentFinancialInstruments 2022-02-28 11199787 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-02-28 11199787 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 11199787 core:Non-currentFinancialInstruments 2023-02-28 11199787 core:Non-currentFinancialInstruments 2022-02-28 11199787 core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 11199787 core:AcceleratedTaxDepreciationDeferredTax 2022-02-28 11199787 core:RevaluationInvestmentPropertyDeferredTax 2023-02-28 11199787 core:RevaluationInvestmentPropertyDeferredTax 2022-02-28 11199787 core:TaxLossesCarry-forwardsDeferredTax 2023-02-28 11199787 core:TaxLossesCarry-forwardsDeferredTax 2022-02-28 11199787 core:FurnitureFittings 2022-02-28 11199787 bus:Director1 2022-02-28 11199787 bus:Director1 2023-02-28 11199787 bus:Director2 2022-02-28 11199787 bus:Director2 2023-02-28 11199787 bus:Director1 2021-02-28 11199787 bus:Director1 2022-02-28 11199787 bus:Director2 2021-02-28 11199787 bus:Director2 2022-02-28 11199787 bus:Director1 2021-03-01 2022-02-28 11199787 bus:Director2 2021-03-01 2022-02-28 11199787 bus:SmallEntities 2022-03-01 2023-02-28 11199787 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11199787 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11199787 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11199787 bus:FullAccounts 2022-03-01 2023-02-28 11199787 bus:OrdinaryShareClass1 2023-02-28 11199787 bus:OrdinaryShareClass1 2022-02-28 11199787 core:AfterOneYear 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 11199787
RAJKD Properties Limited
Filleted Unaudited Financial Statements
28 February 2023
RAJKD Properties Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
1,748
3,223
Investments
7
1,065,000
1,009,038
-------------
-------------
1,066,748
1,012,261
Current assets
Debtors
8
268
1,654
Cash at bank and in hand
15,333
12,704
---------
---------
15,601
14,358
Creditors: amounts falling due within one year
9
( 316,853)
( 313,191)
----------
----------
Net current liabilities
( 301,252)
( 298,833)
-------------
-------------
Total assets less current liabilities
765,496
713,428
Creditors: amounts falling due after more than one year
10
( 690,754)
( 696,889)
Provisions
( 14,416)
( 3,358)
----------
----------
Net assets
60,326
13,181
----------
----------
Capital and reserves
Called up share capital
12
100
100
Profit and loss account
60,226
13,081
---------
---------
Shareholders funds
60,326
13,181
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28th February 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RAJKD Properties Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2023 , and are signed on behalf of the board by:
Mr A R Dasari
Director
Company registration number: 11199787
RAJKD Properties Limited
Notes to the Financial Statements
Year ended 28th February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Windermere Gate, Bracknell, RG12 7GU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment properties are revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax income
( 21)
Deferred tax:
Origination and reversal of timing differences
11,058
1,029
---------
-------
Tax on profit
11,058
1,008
---------
-------
6. Tangible assets
Fixtures and fittings
£
Cost
At 1st March 2022
5,538
Disposals
( 1,164)
-------
At 28th February 2023
4,374
-------
Depreciation
At 1st March 2022
2,315
Charge for the year
1,426
Disposals
( 1,115)
-------
At 28th February 2023
2,626
-------
Carrying amount
At 28th February 2023
1,748
-------
At 28th February 2022
3,223
-------
7. Investments
Other investments other than loans
£
Cost
At 1st March 2022
1,009,038
Revaluations
55,962
-------------
At 28th February 2023
1,065,000
-------------
Impairment
At 1st March 2022 and 28th February 2023
-------------
Carrying amount
At 28th February 2023
1,065,000
-------------
At 28th February 2022
1,009,038
-------------
On 28th February 2022 the investment properties were valued by Mr A Dasari, a director of the company on an open market value basis in the sum of £1,009,038 (2021 - £577,366)
8. Debtors
2023
2022
£
£
Trade debtors
1,400
Other debtors
268
254
----
-------
268
1,654
----
-------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,696
5,456
Trade creditors
599
Other creditors
310,558
307,735
----------
----------
316,853
313,191
----------
----------
The bank loans are secured against assets of the company.
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
690,754
696,889
----------
----------
The bank loans are secured against assets of the company. Included within creditors: amounts falling due after more than one year is an amount of £667,968 (2022: £696,889) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
14,416
3,358
---------
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
332
612
Fair value adjustment of investment property
14,980
4,348
Unused tax losses
( 896)
( 1,602)
---------
-------
14,416
3,358
---------
-------
12. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
13. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A R Dasari
( 68,390)
4,759
( 63,631)
Mrs S Pitla
( 68,389)
4,759
( 63,630)
----------
----
-------
----------
( 136,779)
9,518
( 127,261)
----------
----
-------
----------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A R Dasari
( 24,151)
( 44,239)
( 68,390)
Mrs S Pitla
( 24,152)
( 44,237)
( 68,389)
---------
---------
----
----------
( 48,303)
( 88,476)
( 136,779)
---------
---------
----
----------
Interest is charged at 8% per annum. The loans are repayable on demand.