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REGISTERED NUMBER: 10989029 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Remarkable Serviced Accommodation Ltd

Remarkable Serviced Accommodation Ltd (Registered number: 10989029)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Remarkable Serviced Accommodation Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Shaw
S L Cook





REGISTERED OFFICE: 7 Wetherby Road,
Knaresborough,
North Yorkshire,
HG5 8LG





REGISTERED NUMBER: 10989029 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Remarkable Serviced Accommodation Ltd (Registered number: 10989029)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 1,225 1,531
Investment property 4 314,140 447,283
315,365 448,814

CURRENT ASSETS
Debtors 5 143,336 76,189
Cash at bank 4,068 70,451
147,404 146,640
CREDITORS
Amounts falling due within one year 6 (472,084 ) (434,140 )
NET CURRENT LIABILITIES (324,680 ) (287,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,315

)

161,314

CREDITORS
Amounts falling due after more than one year 7 - (272,059 )
NET LIABILITIES (9,315 ) (110,745 )

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (9,335 ) (110,765 )
(9,315 ) (110,745 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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 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 Sections 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.

Remarkable Serviced Accommodation Ltd (Registered number: 10989029)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





M Shaw - Director


Remarkable Serviced Accommodation Ltd (Registered number: 10989029)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

GOING CONCERN
The directors are committed to supporting the company despite showing negative reserves until such time as the company makes a profit. As such these accounts have been produced on a going concern basis.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Remarkable Serviced Accommodation Ltd (Registered number: 10989029)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 1,952
DEPRECIATION
At 1 April 2022 421
Charge for year 306
At 31 March 2023 727
NET BOOK VALUE
At 31 March 2023 1,225
At 31 March 2022 1,531

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 447,283
Additions 188,590
Disposals (321,733 )
At 31 March 2023 314,140
NET BOOK VALUE
At 31 March 2023 314,140
At 31 March 2022 447,283

The director is of the opinion that the fair value of the company's properties is £314,140 which is based upon open market value basis, by reference to market evidence of transaction prices for similar properties.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 143,336 76,189

Remarkable Serviced Accommodation Ltd (Registered number: 10989029)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,675 -
Other creditors 74,841 841
Directors' current accounts 382,727 431,226
Accrued expenses 841 2,073
472,084 434,140

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Mortgage - 272,059

8. RELATED PARTY DISCLOSURES

During the period the company received an interest free loan from Remarkable Property Investments LLP, a partnership related by way of a partner also being a director of this company. As at the balance sheet date the total amount owned was £88,535 (2022 - owned £76,189).