Registered number
04318412
Recine Limited
Unaudited Filleted Accounts
30 November 2023
Recine Limited
Registered number: 04318412
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,215,000 1,215,000
Current assets
Debtors 4 114 -
Cash at bank and in hand 871 130
985 130
Creditors: amounts falling due within one year 5 (118,752) (147,378)
Net current liabilities (117,767) (147,248)
Total assets less current liabilities 1,097,233 1,067,752
Provisions for liabilities (38,096) (38,096)
Net assets 1,059,137 1,029,656
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 200,508 200,508
Profit and loss account 858,627 829,146
Shareholders' funds 1,059,137 1,029,656
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Goldstein
Director
Approved by the board on 7 March 2024
Recine Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
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.
Investments properties
Investment properties are freehold properties held to earn income and for capital gain appreciation. Changes in fair value are recognised in the revaluation reserve and shown in the total revaluation reserve.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost/Value
At 1 December 2022 1,215,000
At 30 November 2023 1,215,000
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,215,000
At 30 November 2022 1,215,000
The investment properties are included at open market value (as valued by the directors). No depreciation is provided on the freehold investment property. The directors consider that this accounting policy results in the accounts giving a true and fair view.
4 Debtors 2023 2022
£ £
Other debtor 114 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 6,915 6,619
Other creditors 111,837 140,759
118,752 147,378
6 Revaluation reserve 2023 2022
£ £
At 1 December 2022 200,508 135,508
Gain on revaluation of land and buildings - 65,000
At 30 November 2023 200,508 200,508
7 Other information
Recine Limited is a private company limited by shares and incorporated in England. Its registered office is:
1A Church Mount
East Finchley
London
N2 0RW
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