REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
R.J. PROPERTIES LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
Fair value reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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.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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rent receivable from outside tenants at invoiced amounts less value added tax. |
Tangible fixed assets |
Investment property | - |
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 |
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 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
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 |
Other debtors |
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 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
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: | £ | £ |
Ordinary | £1 | 2,267,528 | 2,267,528 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2022 |
and 31 March 2023 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |