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REGISTERED NUMBER: 10469302 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Rx Portfolio Limited

Rx Portfolio Limited (Registered number: 10469302)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Rx Portfolio Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: M Ibrahim





REGISTERED OFFICE: 175 Fosse Road South
Leicester
LE3 0FX





REGISTERED NUMBER: 10469302 (England and Wales)





ACCOUNTANTS: Xitax Limited
Pera Business Park
Nottingham Road
Melton Mowbray
Leicestershire
LE13 0PB

Rx Portfolio Limited (Registered number: 10469302)

Abridged Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investment properties 4 1,267,500 1,267,500

CURRENT ASSETS
Cash at bank and in hand 60,514 36,907

CREDITORS
Amounts falling due within one year 1,242,071 1,247,441
NET CURRENT LIABILITIES (1,181,557 ) (1,210,534 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

85,943

56,966

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 5 (43,256 ) (43,256 )
Retained earnings 129,198 100,221
85,943 56,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2024 and were signed by:




M Ibrahim - Director


Rx Portfolio Limited (Registered number: 10469302)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Rx Portfolio 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

The director has made key assumptions in the determination of the fair value of investment properties in respect of the state of the property market in the locations where the properties are situated and in respect of the range of reasonable fair value estimates of the 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.

Investment properties
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.

Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in the profit or loss in the period in which they arise.

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.


Rx Portfolio Limited (Registered number: 10469302)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,267,500
NET BOOK VALUE
At 30 June 2023 1,267,500
At 30 June 2022 1,267,500

The fair value of the properties at 30 June 2023 has been arrived at on the basis of a valuation carried out on that date by Mr Ibrahim, the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the current state of the rental market in the area where the properties are situated.

5. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 30 June 2023 (43,256 )

6. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Bismillah786 Ltd which is a company registered in England and Wales and holds 100% of the issued share capital of the company.