2022-04-01 04692306 2023-03-31 04692306 2022-04-01 2023-03-31 04692306 2022-03-31 04692306 2021-04-01 2022-03-31 04692306 uk-core:WithinOneYear uk-bus:Original 2022-03-31 04692306 uk-core:WithinOneYear uk-bus:Original 2023-03-31 04692306 uk-core:ShareCapital uk-bus:Original 2023-03-31 04692306 uk-core:ShareCapital uk-bus:Original 2022-03-31 04692306 uk-core:RetainedEarningsAccumulatedLosses uk-bus:Original 2023-03-31 04692306 uk-core:RetainedEarningsAccumulatedLosses uk-bus:Original 2022-03-31 04692306 uk-bus:Director1 uk-bus:Original 2022-04-01 2023-03-31 04692306 uk-bus:Director2 uk-bus:Original 2022-04-01 2023-03-31 04692306 uk-core:CostValuation uk-bus:Original 2022-03-31 04692306 uk-core:CostValuation uk-bus:Original uk-core:Non-currentFinancialInstruments 2022-03-31 04692306 uk-core:CostValuation uk-bus:Original uk-core:Non-currentFinancialInstruments 2023-03-31 04692306 uk-core:CostValuation uk-bus:Original 2023-03-31 04692306 uk-core:Non-currentFinancialInstruments uk-bus:Original 2023-03-31 04692306 uk-core:Non-currentFinancialInstruments uk-bus:Original 2022-03-31 iso4217:GBP xbrli:pure 04692306 uk-bus:AuditExempt-NoAccountantsReport uk-bus:Original 2022-04-01 2023-03-31 04692306 uk-bus:FRS102 uk-bus:Original 2022-04-01 2023-03-31 04692306 uk-bus:FilletedAccounts uk-bus:Original 2022-04-01 2023-03-31 04692306 uk-bus:PrivateLimitedCompanyLtd uk-bus:Original 2022-04-01 2023-03-31
RELG Properties Limited
Registered Number:04692306
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
Registered Number :
04692306
As at 31 March 2023
RELG Properties Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Financial assets
317,700
317,700
2
317,700
317,700
Current assets
30
Cash and cash equivalents
67
67
30
Trade and other payables: amounts falling due within one
year
(320,620)
(322,034)
3
(320,590)
(321,967)
Net current liabilities
Total assets less current liabilities
(4,267)
(2,890)
(4,267)
Net liabilities
(2,890)
Capital and reserves
Called up share capital
3
3
Retained earnings
(4,270)
(2,893)
(4,267)
(2,890)
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mrs E A Jefferson Director
R J Jefferson Director
These financial statements were approved and authorised for issue by the Board on 14 December 2023 and were signed by:
The notes form part of these financial statements
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For the year ended 31 March 2023
RELG Properties Limited
Notes to the Financial Statements
Statutory Information
RELG Properties Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 04692306.
Registered address:
c/o Summit Bookkeeping Ltd
Bryn Awel, Brithdir
Dolgellau
Gwynedd
LL40 2RR
The presentation currency is £ sterling.
The principal activity of the company is that of property investment. The principal activities of the company's
subsidiary companies are those of property development and commercial letting.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention
as modified by the revaluation of certain assets.
Going Concern
The Statement of Financial Position shows Net Current Liabilities of £321,967 at 31 March 2023 (2022:
£320,590). As stated in note 3 to the financial statements, a subsidiary undertaking has provided loan finance
totalling £321,521 at 31 March 2023 (2022: £2,780). The loan is unsecured and interest-free. The subsidiary
undertaking has agreed not to demand repayment of the loan until the company's cashflow allows.
After making enquiries the director has a reasonable expectation that the company has sufficient working
capital to continue in operational existence for the foreseeable future and to meet its liabilities as they fall
due. Accordingly, the financial statements have been prepared on the basis of a going concern.
Revenue recognition
Turnover comprises the fair value of rents received or receivable in the ordinary course of the company's activities. Turnover is shown net of value of added tax, credits and discounts. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for each of the company's activities.
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4
For the year ended 31 March 2023
RELG Properties Limited
Notes to the Financial Statements Continued
Deferred tax
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. Current TaxationThe current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Deferred TaxationDeferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.
Group accounts
In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The
company has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006
not to prepare group accounts.
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 Statement of Financial Position. Finance costs and gains or losses relating to financial
liabilities are included in the Statement of Income and Retained Earnings. 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.
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5
For the year ended 31 March 2023
RELG Properties Limited
Notes to the Financial Statements Continued
Related parties
For the purposes of these financial statements, a party is considered to be related to the company if:
i. the party has the ability, directly or indirectly, through one or more intermediaries, to control the
company or exercise significant influence over the company in making financial and operating policy
decisions, or has joint control over the company;
ii. the company and the party are subject to common control;
iii. the party is an associate of the company or a joint venture in which the company is a venture;
iv. the party is a member of key management personnel of the company or the company's parent, or a close
family member of such an individual, or is an entity under the control, joint control or significant influence of
such individuals;
v. the party is a close family member of a party referred to in (i) or is an entity under the control, joint
control or significant influence of such individuals;
vi. the party is a post-employment benefit plan which is for the benefit of employees of the company or of
any entity that is a related party of the company; or
vii. the party, or any member of a group of which it is part, provides key management personnel services to
the company or its parent.
Close family members of an individual are those family members who may be expected to influence, or be
influenced by, that individual in their dealings with the entity.
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For the year ended 31 March 2023
RELG Properties Limited
Notes to the Financial Statements Continued
2. Investments held as fixed assets
Shares in group and participating interests
Total
At 01 April 2022
317,700
317,700
Cost
£
£
At 31 March 2023
317,700
317,700
At 31 March 2023
Net book value
317,700
317,700
At 01 April 2022
317,700
317,700
DETAILS OF UNDERTAKINGS:
Subsidiary Undertaking: Holding: Proportion of voting rights and shares held:
Longdeal Limited Ordinary 100% (2022: 100%)
Pender Estates Limited Ordinary 100% (2022: 100%)
The Registered Office and principal place of business address of both subsidiary undertakings is:
c/o Summit Bookkeeping Ltd
Bryn Awel
Brithdir
Dolgellau
Gwynedd
LL40 2RR
3. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
63
-
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
321,521
2,780
Other creditors
450
317,840
322,034
320,620
4. Related party transactions
Exemption has been taken under paragraph 1AC. 35, FRS 102 not to disclose transactions and balances with
other group companies that are wholly owned within the group.
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For the year ended 31 March 2023
RELG Properties Limited
Notes to the Financial Statements Continued
5. Guarantees and other financial commitments
Capital commitments
The company entered into a contract dated 31 March 2003 with Longdeal Limited, a wholly-owned subsidiary
company, for the purchase of Units 2, 6, 7, 8 and 15 St George's Business Centre, St George's Square,
Portsmouth for the sum of £580,000.
It is anticipated the contract will be completed in the financial year ending 31 March 2024.
6. Average number of persons employed
During the year the average number of employees was 0 (2022: 0)
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