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REGISTERED NUMBER: 05228105















Unaudited Financial Statements for the Year Ended 31st March 2023

for

Residential Property London Limited

Residential Property London Limited (Registered number: 05228105)






Contents of the Financial Statements
for the Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Residential Property London Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: M J Fitzsimons
Mrs P J Fitzsimons





REGISTERED OFFICE: 38 Tankerville Road
London
SW16 5LP





REGISTERED NUMBER: 05228105





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Residential Property London Limited (Registered number: 05228105)

Balance Sheet
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 2,907,963 2,884,307
Investments 4 600 600
Investment property 5 2,614,865 2,369,865
5,523,428 5,254,772

CURRENT ASSETS
Stocks 200,000 425,000
Debtors 6 1,069,002 458,320
Investments 7 1,950 -
Cash at bank and in hand 12,548 43,916
1,283,500 927,236
CREDITORS
Amounts falling due within one year 8 (1,596,551 ) (1,312,394 )
NET CURRENT LIABILITIES (313,051 ) (385,158 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,210,377 4,869,614

CREDITORS
Amounts falling due after more than one year 9 (3,567,073 ) (3,505,468 )

PROVISIONS FOR LIABILITIES (440,601 ) (394,051 )
NET ASSETS 1,202,703 970,095

Residential Property London Limited (Registered number: 05228105)

Balance Sheet - continued
31st March 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings 1,202,599 969,991
1,202,703 970,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

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 12th March 2024 and were signed on its behalf by:





M J Fitzsimons - Director


Residential Property London Limited (Registered number: 05228105)

Notes to the Financial Statements
for the Year Ended 31st March 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.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at 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.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Residential Property London Limited (Registered number: 05228105)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

3. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2022 1,838,478 1,074,931 2,913,409
Additions - 29,935 29,935
At 31st March 2023 1,838,478 1,104,866 2,943,344
DEPRECIATION
At 1st April 2022 - 29,102 29,102
Charge for year - 6,279 6,279
At 31st March 2023 - 35,381 35,381
NET BOOK VALUE
At 31st March 2023 1,838,478 1,069,485 2,907,963
At 31st March 2022 1,838,478 1,045,829 2,884,307

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st April 2022
and 31st March 2023 600
NET BOOK VALUE
At 31st March 2023 600
At 31st March 2022 600

Residential Property London Limited (Registered number: 05228105)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022 2,369,865
Revaluations 245,000
At 31st March 2023 2,614,865
NET BOOK VALUE
At 31st March 2023 2,614,865
At 31st March 2022 2,369,865

The directors see no real benefit in revaluing the properties.

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2020 1,045,276
Valuation in 2023 245,000
Cost 1,324,589
2,614,865

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,064,196 458,320
Tax 45 -
VAT 4,761 -
1,069,002 458,320

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Other 1,950 -

Residential Property London Limited (Registered number: 05228105)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13 5,000
Hire purchase 1,392 -
Tax 3,402 7,043
Other creditors 150,269 5,999
Directors' current accounts 1,441,475 1,294,352
1,596,551 1,312,394

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 49,265 43,672
Hire purchase - 2-5 years 34,461 -
Mortgages 3,483,347 3,461,796
3,567,073 3,505,468

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 3,483,347 3,461,796

11. RELATED PARTY DISCLOSURES

At the year end Residential Property London Ltd owed £143,400 (2022:£600) to Transform Property London Ltd.