2023-04-012024-03-312024-03-31false09369273R2 FINANCE 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R2 FINANCE LIMITED

Registered Number
09369273
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

R2 FINANCE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

RATTRAY, Robert James

Registered Address

Basepoint Centres - Shoreham
Little High Street
Shoreham-By-Sea
BN43 5EG

Registered Number

09369273 (England and Wales)
R2 FINANCE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets46,4974,107
6,4974,107
Current assets
Debtors20,56218,156
Cash at bank and on hand50,60254,455
71,16472,611
Creditors amounts falling due within one year6(12,277)(13,131)
Net current assets (liabilities)58,88759,480
Total assets less current liabilities65,38463,587
Provisions for liabilities7(1,234)(714)
Net assets64,15062,873
Capital and reserves
Called up share capital7,5507,550
Profit and loss account56,60055,323
Shareholders' funds64,15062,873
The financial statements were approved and authorised for issue by the Director on 6 April 2024, and are signed on its behalf by:
RATTRAY, Robert James
Director
Registered Company No. 09369273
R2 FINANCE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.

Straight line (years)
Land and buildings50
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year11
3.Deferred tax
The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 2314,09814,098
Additions3,8663,866
Disposals(5,293)(5,293)
At 31 March 2412,67112,671
Depreciation and impairment
At 01 April 239,9919,991
Charge for year1,4761,476
On disposals(5,293)(5,293)
At 31 March 246,1746,174
Net book value
At 31 March 246,4976,497
At 31 March 234,1074,107
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,5137,942
Other debtors9,9266,645
Prepayments and accrued income2,1233,569
Total20,56218,156
Other debtors includes a loan to director of £9,926 (£6,645 as at 31 March 2023)
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security12,27713,131
Total12,27713,131
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,234714
Total1,234714
8.Related party transactions
A Director loan of £9,926 was outstanding as at 31 March 2024. This was repaid on 6 April 2024. A director loan of £6,645 was outstanding at 31 March 2023. This was repaid on 6 April 2023.
9.Controlling party
The Company is controlled by Robert Rattray, the director and sole shareholder of the company.