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RENTWRIGHT PROPERTIES LIMITED

Registered Number
10237573
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

RENTWRIGHT PROPERTIES LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Directors

WRIGHT, Gary
WRIGHT, Robert

Registered Address

4 Glasshouse Studios Fryern Court Road
Burgate
Fordingbridge
SP6 1QX

Registered Number

10237573 (England and Wales)
RENTWRIGHT PROPERTIES LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets34,636,8464,582,591
4,636,8464,582,591
Current assets
Cash at bank and on hand107,99544,630
107,99544,630
Creditors amounts falling due within one year4(70,300)(42,412)
Net current assets (liabilities)37,6952,218
Total assets less current liabilities4,674,5414,584,809
Creditors amounts falling due after one year5(4,368,324)(4,409,599)
Net assets306,217175,210
Capital and reserves
Called up share capital100100
Profit and loss account306,117175,110
Shareholders' funds306,217175,210
The financial statements were approved and authorised for issue by the Board of Directors on 22 March 2024, and are signed on its behalf by:
WRIGHT, Gary
Director
WRIGHT, Robert
Director

Registered Company No. 10237573
RENTWRIGHT PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 July 224,570,107-20,0008604,590,967
Additions-6,29953,280-59,579
At 30 June 234,570,1076,29973,2808604,650,546
Depreciation and impairment
At 01 July 22--8,0003768,376
Charge for year-3154,8881215,324
At 30 June 23-31512,88849713,700
Net book value
At 30 June 234,570,1075,98460,3923634,636,846
At 30 June 224,570,107-12,0004844,582,591
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables23,6448,212
Taxation and social security19,06434,200
Finance lease and HP contracts7,592-
Accrued liabilities and deferred income20,000-
Total70,30042,412
5.Creditors: amounts due after one year

2023

2022

££
Trade creditors / trade payables1,818,6361,873,738
Bank borrowings and overdrafts2,509,0002,535,861
Other creditors40,688-
Total4,368,3244,409,599