Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31false2022-09-01falseLetting and operating real estate11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10931130 2022-09-01 2023-08-31 10931130 2021-09-01 2022-08-31 10931130 2023-08-31 10931130 2022-08-31 10931130 c:Director1 2022-09-01 2023-08-31 10931130 d:FurnitureFittings 2022-09-01 2023-08-31 10931130 d:FurnitureFittings 2023-08-31 10931130 d:FurnitureFittings 2022-08-31 10931130 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 10931130 d:FreeholdInvestmentProperty 2023-08-31 10931130 d:FreeholdInvestmentProperty 2022-08-31 10931130 d:CurrentFinancialInstruments 2023-08-31 10931130 d:CurrentFinancialInstruments 2022-08-31 10931130 d:Non-currentFinancialInstruments 2023-08-31 10931130 d:Non-currentFinancialInstruments 2022-08-31 10931130 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10931130 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 10931130 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10931130 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 10931130 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 10931130 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-08-31 10931130 d:ShareCapital 2023-08-31 10931130 d:ShareCapital 2022-08-31 10931130 d:RevaluationReserve 2023-08-31 10931130 d:RevaluationReserve 2022-08-31 10931130 d:RetainedEarningsAccumulatedLosses 2023-08-31 10931130 d:RetainedEarningsAccumulatedLosses 2022-08-31 10931130 c:FRS102 2022-09-01 2023-08-31 10931130 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 10931130 c:FullAccounts 2022-09-01 2023-08-31 10931130 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10931130 5 2022-09-01 2023-08-31 10931130 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 10931130









RPPF LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
RPPF LIMITED
REGISTERED NUMBER: 10931130

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
99
132

Investment property
 5 
350,000
350,000

  
350,099
350,132

Current assets
  

Cash at bank and in hand
 6 
4,253
5,717

  
4,253
5,717

Creditors: amounts falling due within one year
 7 
(97,037)
(93,721)

Net current liabilities
  
 
 
(92,784)
 
 
(88,004)

Total assets less current liabilities
  
257,315
262,128

Creditors: amounts falling due after more than one year
 8 
(226,691)
(226,691)

Provisions for liabilities
  

Deferred tax
  
(8,635)
(785)

  
 
 
(8,635)
 
 
(785)

Net assets
  
21,989
34,652


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
25,829
39,542

Profit and loss account
  
(3,940)
(4,990)

  
21,989
34,652


Page 1

 
RPPF LIMITED
REGISTERED NUMBER: 10931130
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




P Rochford
Director

Date: 9 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

RPPF Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day to day working capital requirements through a Director's loan. The Director intends to continue to support the company. As a result the going concern basis of accounting has been adopted.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Page 5

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
1
1

Page 6

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2022
500



At 31 August 2023

500



Depreciation


At 1 September 2022
368


Charge for the year on owned assets
33



At 31 August 2023

401



Net book value



At 31 August 2023
99



At 31 August 2022
132

Page 7

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 September 2022
350,000



At 31 August 2023
350,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



At 31 August 2023



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
319,561
319,561

319,561
319,561


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,253
5,717

4,253
5,717



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
144

Other creditors
95,587
92,377

Accruals and deferred income
1,450
1,200

97,037
93,721


Page 8

 
RPPF LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
226,691
226,691

226,691
226,691


A loan of £226,691 (2022: £226,691) is secured by a fixed charge on the investment property.


9.


Loans


2023
2022
£
£




Amounts falling due after more than 5 years

Other loans
226,691
226,691

226,691
226,691

226,691
226,691



10.


Related party transactions

In others creditors there is a Directors loan of £95,588 (2022: £92,377) provided to the company. Interest
of 0% is paid on this loan and it is repayable on demand.

 
Page 9