0 false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2021 - FRS102_2021 122,281 122,281 122,281 xbrli:pure xbrli:shares iso4217:GBP 12103823 2022-08-01 2023-07-31 12103823 2023-07-31 12103823 2022-07-31 12103823 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 12103823 bus:Director1 2022-08-01 2023-07-31 12103823 bus:Director2 2022-08-01 2023-07-31 12103823 core:WithinOneYear 2023-07-31 12103823 core:WithinOneYear 2022-07-31 12103823 core:AfterOneYear 2023-07-31 12103823 core:AfterOneYear 2022-07-31 12103823 core:ShareCapital 2023-07-31 12103823 core:ShareCapital 2022-07-31 12103823 core:RetainedEarningsAccumulatedLosses 2023-07-31 12103823 core:RetainedEarningsAccumulatedLosses 2022-07-31 12103823 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 12103823 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 12103823 bus:SmallEntities 2022-08-01 2023-07-31 12103823 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12103823 bus:FullAccounts 2022-08-01 2023-07-31 12103823 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12103823 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12103823 bus:OrdinaryShareClass1 2023-07-31 12103823 bus:OrdinaryShareClass1 2022-07-31
COMPANY REGISTRATION NUMBER: 12103823
R&W PROPERTY HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
R&W PROPERTY HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
R&W PROPERTY HOLDINGS LIMITED
BALANCE SHEET
31 July 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
122,281
122,281
Current assets
Cash at bank and in hand
32,877
32,339
Creditors: amounts falling due within one year
5
( 81,002)
( 78,966)
------------
------------
Net current liabilities
( 48,125)
( 46,627)
------------
------------
Total assets less current liabilities
74,156
75,654
Creditors: amounts falling due after more than one year
6
( 75,214)
( 78,399)
------------
------------
Net liabilities
( 1,058)
( 2,745)
------------
------------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
( 1,158)
( 2,845)
------------
------------
Shareholders deficit
( 1,058)
( 2,745)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 March 2024 , and are signed on behalf of the board by:
C Radley
L W Webster
Director
Director
Company registration number: 12103823
R&W PROPERTY HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents rents receivable during the year.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment properties FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" requires properties held for investment to be included in the Balance Sheet at their fair value when it can be measured reliably without undue cost or effort. The director considers that to comply with this requirement annually would involve unjustifiable expense and therefore the investment properties are included at depreciated cost. The Director believes that the residual value of the properties is at least equivalent to their cost and therefore the depreciation rate, subject to consideration of impairment, is zero.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Freehold property
£
Cost
At 1 August 2022 and 31 July 2023
122,281
------------
Depreciation
At 1 August 2022 and 31 July 2023
------------
Carrying amount
At 31 July 2023
122,281
------------
At 31 July 2022
122,281
------------
The above property is an investment property.
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,186
3,550
Accruals and deferred income
900
900
Director loan accounts
22,916
20,516
Other creditors
54,000
54,000
------------
------------
81,002
78,966
------------
------------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
75,214
78,399
------------
------------
Included within creditors: amounts falling due after more than one year is an amount of £61,480 (2022: £65,069) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
7. Secured liabilities
2023
2022
£
£
Aggregate amount of secured liabilities
78,399
81,949
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
------------
------------
------------
------------
9. Related party transactions
Transactions with the directors The directors' loan accounts of £22,916 (2022: £20,516) set out in creditors above are unsecured, repayable on demand and currently interest free. Control of the company The company is controlled by the directors.
10. Going concern
The directors have indicated that they will provide adequate working capital to enable the company to continue to trade for at least 12 months from the date of approval of these financial statements. Consequently, the accounts have been prepared on a going concern basis.