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REGISTERED NUMBER: 04189077 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

R.J. PROPERTIES LIMITED

R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R.J. PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Ms Priya Patel
Mr Sandeep Prashar





SECRETARY: Ms Priya Patel





REGISTERED OFFICE: Garland House
117a Anerley Road
London
SE20 8AJ





REGISTERED NUMBER: 04189077 (England and Wales)





AUDITORS: Edwards Chartered Accountants
Statutory Auditor
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,410,000 24,410,000

CURRENT ASSETS
Debtors 5 461,831 311,462
Cash at bank 1,264,552 1,364,501
1,726,383 1,675,963
CREDITORS
Amounts falling due within one year 6 1,101,876 1,101,963
NET CURRENT ASSETS 624,507 574,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,034,507

24,984,000

CREDITORS
Amounts falling due after more than one
year

7

9,964,000

10,400,000
NET ASSETS 15,070,507 14,584,000

CAPITAL AND RESERVES
Called up share capital 9 2,267,528 2,267,528
Capital redemption reserve 3,672,556 3,672,556
Fair value reserve 10 4,193,485 4,193,485
Retained earnings 4,936,938 4,450,431
SHAREHOLDERS' FUNDS 15,070,507 14,584,000

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 21 December 2023 and were signed on its behalf by:





Mr Sandeep Prashar - Director


R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

R.J. Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 represents rent receivable from outside tenants at invoiced amounts less value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment property - not provided

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Joint arrangements
The company has interests in a number of investment trusts with whom they engage in joint activities. The company includes its share of assets, liabilities and cashflows in such joint arrangements, measured in accordance with terms of each arrangement, this being pro-rata to the company's interest therein.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Investment
property
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 24,410,000
NET BOOK VALUE
At 31 March 2023 24,410,000
At 31 March 2022 24,410,000

Cost or valuation at 31 March 2023 is represented by:

Investment
property
£   
Valuation in 2013 (1,827,701 )
Valuation in 2014 335,000
Valuation in 2015 190,000
Valuation in 2016 260,000
Valuation in 2017 2,693,000
Valuation in 2018 (657,935 )
Valuation in 2019 (67,379 )
Valuation in 2020 (1,442,500 )
Valuation in 2021 (386,000 )
Valuation in 2022 5,097,000
Cost 20,216,515
24,410,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 20,216,515 20,216,515

Investment properties were valued on an open market basis on 31 March 2022 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 290,117 223,192
Other debtors 171,714 88,270
461,831 311,462

R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 400,000 402,933
Taxation and social security 255,359 241,436
Other creditors 446,517 457,594
1,101,876 1,101,963

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,964,000 10,400,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 10,364,000 10,802,933

The bank loans are secured on the company's investment properties. The loans are repayable over terms of up to three years at margins of between 1.25% over LIBOR to 2.25% over bank base rate.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,267,528 Ordinary £1 2,267,528 2,267,528

10. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 4,193,485

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Duggan (Senior Statutory Auditor)
for and on behalf of Edwards Chartered Accountants

R.J. PROPERTIES LIMITED (REGISTERED NUMBER: 04189077)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. TRANSACTIONS WITH DIRECTORS

During the year, dividends were voted in favour of the directors as follows:

Priya Patel £4,892 (2022: £4,077)
Sandeep Prashar £17,240 (2022: £25,515)


During the year, the following payments were made to directors in their capacity of trustees:

Priya Patel £2,500 (2022: £2,500)
Sandeep Prashar £2,700 (2022: £2,700)

13. ULTIMATE CONTROLLING PARTY

No individual holds a majority interest in the company's share capital and so the company is not under the control of any one individual.

The company's largest shareholder is Viraj Limited, company number 08494542, who hold a 63.79% interest in the company's share capital.