Reldas Pearl Properties Limited
Unaudited Financial Statements
For the year ended 30 September 2023
Pages for Filing with Registrar
Company Registration No. 13092993 (England and Wales)
Reldas Pearl Properties Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Reldas Pearl Properties Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
99,910
-
0
Current assets
Cash at bank and in hand
2,068
79,407
Creditors: amounts falling due within one year
4
(80,714)
(82,222)
Net current liabilities
(78,646)
(2,815)
Total assets less current liabilities
21,264
(2,815)
Creditors: amounts falling due after more than one year
5
(70,792)
-
0
Net liabilities
(49,528)
(2,815)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(49,530)
(2,817)
Total equity
(49,528)
(2,815)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

Reldas Pearl Properties Limited
Balance Sheet (Continued)
As at 30 September 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 18 April 2024 and are signed on its behalf by:
Mr J Sadler
Director
Company Registration No. 13092993
Reldas Pearl Properties Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 3
1
Accounting policies
Company information

Reldas Pearl Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the rent received or receivable for services provided in the normal course of business.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
Reldas Pearl Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 4
1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other basic instruments measured at fair value.

2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2022: 2).
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2022
-
0
Additions
99,910
At 30 September 2023
99,910
Depreciation and impairment
At 1 October 2022 and 30 September 2023
-
0
Carrying amount
At 30 September 2023
99,910
At 30 September 2022
-
0

All properties are held for investment purposes.

 

The historic cost of the Investment Properties at the year end was £99,910 (2022: £nil).

 

Land and buildings were valued by the directors consider these values to be the approximate to market value.

4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
3,400
-
0
Other creditors
75,514
80,422
Accruals and deferred income
1,800
1,800
80,714
82,222
Reldas Pearl Properties Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 5
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
70,792
-

The Mortgage Works (UK) Plc hold a fixed and floating charge with a negative pledge over the property held in the company.

6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Related party transactions

At the balance sheet date, included in other creditors is £75,514 (2022: £80,422) due to the directors of the company.

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