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REGISTERED NUMBER: SC520281 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

RCR Industrial Ltd

RCR Industrial Ltd (Registered number: SC520281)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RCR Industrial Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: P Robson
C P Robson
E C Welsh





REGISTERED OFFICE: 6 Logie Mill
Beaverbank Business Park
Edinburgh
Lothian
EH7 4HG





REGISTERED NUMBER: SC520281 (Scotland)





ACCOUNTANTS: A H & Co Ltd
Chartered Accountants
6 Logie Mill
Edinburgh
Lothian
EH7 4HG

RCR Industrial Ltd (Registered number: SC520281)

Balance Sheet
30 November 2023

30.11.23 30.11.22
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 3,265 4,898
Investment property 5 2,180,625 2,193,845
2,183,890 2,198,743

CURRENT ASSETS
Debtors 6 - 62,979
Cash at bank 6,189 37,973
6,189 100,952
CREDITORS
Amounts falling due within one year 7 822,914 940,326
NET CURRENT LIABILITIES (816,725 ) (839,374 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,367,165

1,359,369

CREDITORS
Amounts falling due after more than one year 8 (286,408 ) (313,944 )

PROVISIONS FOR LIABILITIES 10 (168,210 ) (166,578 )
NET ASSETS 912,547 878,847

CAPITAL AND RESERVES
Called up share capital 11 120 120
Fair value reserve 510,062 506,022
Retained earnings 402,365 372,705
SHAREHOLDERS' FUNDS 912,547 878,847

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

RCR Industrial Ltd (Registered number: SC520281)

Balance Sheet - continued
30 November 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 3 April 2024 and were signed on its behalf by:





P Robson - Director


RCR Industrial Ltd (Registered number: SC520281)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

RCR Industrial Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis, the acceptability of which is dependent on the continued support of the creditors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Investment property
Investment properties, for which fair value can be measured reliably without undue cost or effort on an ongoing basis, are measured at fair value annually with any change recognised in the profit and loss account.

In accordance with Financial Reporting Standard 102 no depreciation is provided in respect of freehold properties held as investment properties where fair value can be measured reliably without undue cost or effort. This is a departure from the requirements of the Companies Act 2006, which requires all properties to be depreciated. Such properties are held for investment and not for consumption, and the directors consider that to depreciate them would not give a true and fair view.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

RCR Industrial Ltd (Registered number: SC520281)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 December 2022
and 30 November 2023 8,164
DEPRECIATION
At 1 December 2022 3,266
Charge for year 1,633
At 30 November 2023 4,899
NET BOOK VALUE
At 30 November 2023 3,265
At 30 November 2022 4,898

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2022 2,193,845
Additions 21,780
Disposals (35,000 )
At 30 November 2023 2,180,625
NET BOOK VALUE
At 30 November 2023 2,180,625
At 30 November 2022 2,193,845

Fair value at 30 November 2023 is represented by:
£
Valuation in 2023 2,180,625

If investment property had not been revalued it would have been included at the following historical cost:

30.11.23 30.11.22
as restated
£ £
Cost 1,511,050 1,532,430

Investment property was valued on an open market basis on 30 November 2023 by the directors of the company .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
as restated
£ £
Other debtors - 62,979

RCR Industrial Ltd (Registered number: SC520281)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
as restated
£ £
Bank loans and overdrafts 33,471 49,360
Taxation and social security 17,804 55,440
Other creditors 771,639 835,526
822,914 940,326

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
as restated
£ £
Bank loans 271,016 288,598
Other creditors 15,392 25,346
286,408 313,944

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
as restated
£ £
Bank loans 304,487 337,958

There are bank loan facilities secured by fixed and floating charges over all the company's assets.

10. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
as restated
£ £
Deferred tax 168,210 166,578

Deferred tax
£
Balance at 1 December 2022 166,578
Provided during year 1,632
Balance at 30 November 2023 168,210

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: as restated
£ £
120 Ordinary 1 120 120

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the directors £114,726 (2022: £131,099).

RCR Industrial Ltd (Registered number: SC520281)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

13. RELATED PARTY DISCLOSURES





Related Party




Type of transaction



Amount
30.11.23



Amount
30.11.22
Balance
receivable
by/(payable to)
related party as
at 30.11.23

Balance receivable
by/(payable to)
related party as at
30.11.22
£ £ £ £

Shareholder Loan 13,000 122,688 (124,854) (137,854)

Shareholder Loan Nil Nil (35,440) (35,440)

Shareholder Loan Nil Nil (35,440) (35,440)

Family member of
shareholder

Loan

11,210

(6,138)

(38,094)

(49,305)

Family member of
shareholder

Loan

Nil

Nil

(35,304)

(35,304)

Family member of
shareholder

Loan

Nil

(98,269)

(1,731)

(1,731)

Family member of
shareholder

Loan

23,563

(397,500)

(373,937)

(397,500)

(1) Shareholders and family members of shareholders have loaned money to the company to enable the purchases of investment properties

14. ULTIMATE CONTROLLING PARTY

There is no overall controlling interest.