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REGISTERED NUMBER: 11481378 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2023

FOR

RMAP PROPERTIES LTD

RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 585,000 560,000

CURRENT ASSETS
Debtors 6 675 -
Cash at bank 3,035 5,488
3,710 5,488
CREDITORS
Amounts falling due within one year 7 397,100 201,091
NET CURRENT LIABILITIES (393,390 ) (195,603 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,610

364,397

CREDITORS
Amounts falling due after more than
one year

8

(119,208

)

(317,763

)

PROVISIONS FOR LIABILITIES 10 (12,603 ) (6,976 )
NET ASSETS 59,799 39,658

CAPITAL AND RESERVES
Called up share capital 11 100 100
Non distributable reserves 12 49,115 29,742
Retained earnings 10,584 9,816
SHAREHOLDERS' FUNDS 59,799 39,658

RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

BALANCE SHEET - continued
31 JULY 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:




Dr R M Patel - Director



Dr R Patel - Director


RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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


1. STATUTORY INFORMATION

RMAP Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11481378

Registered office: 48 St Leonards Road
Bexhill on Sea
East Sussex
TN40 1JB

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable by the company during the year.

Investment property
Investment property is shown at the valuation at the balance sheet date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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


3. 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.

Provision is made for tax on gains and losses arising from investment property that is measured at fair value. This is measured using the tax rates and allowances that are expected to apply to the sale of the asset.

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022 560,000
Revaluations 25,000
At 31 July 2023 585,000
NET BOOK VALUE
At 31 July 2023 585,000
At 31 July 2022 560,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2020 16,162
Valuation in 2022 20,556
Valuation in 2023 25,000
Cost 523,282
585,000

The investment property was valued by the directors, Dr R M Patel and Dr R Patel, on 31 July 2023 at open market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 675 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,063 -
Corporation tax 180 907
Directors' current accounts 389,109 198,539
Accruals and deferred income 1,748 1,645
397,100 201,091

RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,063 -
Bank loans - 2-5 years 18,188 -
Bank loans over 5 years 94,957 -
Bank loans more 5 yrs non-inst - 317,763
119,208 317,763

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 317,763

Repayable by instalments
Bank loans over 5 years 94,957 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 125,271 317,763

Bank loans are secured by fixed charges over the company's investment property.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Investment property revaluation gain 12,603 6,976

Deferred
tax
£   
Balance at 1 August 2022 6,976
Provided during year 5,627
Balance at 31 July 2023 12,603

RMAP PROPERTIES LTD (REGISTERED NUMBER: 11481378)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Non
distributa
reserves
£   
At 1 August 2022 29,742
Revaluation of fixed assets 19,373

At 31 July 2023 49,115