REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 October 2023 |
for |
RNR Enterprises Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 October 2023 |
for |
RNR Enterprises Limited |
RNR Enterprises Limited (Registered number: 07809385) |
Contents of the Financial Statements |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RNR Enterprises Limited |
Company Information |
for the Year Ended 31 October 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
The Mills |
Canal Street |
Derby |
DE1 2RJ |
RNR Enterprises Limited (Registered number: 07809385) |
Balance Sheet |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings | 389,505 | 224,701 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RNR Enterprises Limited (Registered number: 07809385) |
Notes to the Financial Statements |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
RNR Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents and service charges receivable from properties. Turnover is recognised when rentals are due in accordance with the lease terms. |
Investment property |
Investment property is not depreciated but is revalued annually at its fair value, in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Deferred tax |
Deferred tax arises from timing differences that are differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. |
A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted. |
Provision is made at current rates for taxation deferred in respect of all material timing differences. |
Leasing commitments |
Rentals received under operating leases are charged to the profit and loss account as incurred. |
Going concern |
The financial statements have been prepared on a going concern basis that assumes the continuing financial support of the group. The Directors have indicated that this support will continue for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2022 |
and 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
RNR Enterprises Limited (Registered number: 07809385) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 31 October 2023 is represented by: |
£ |
Valuation in 2023 | 2,500,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 668,817 | 668,817 |
Aggregate depreciation | (160,512 | ) | (147,136 | ) |
The investment property was valued on a fair value basis on 31 October 2023 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Tax |
Other creditors |
Directors' loan accounts | 23,026 | 23,026 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Debts are secured against the assets to which they relate. |
RNR Enterprises Limited (Registered number: 07809385) |
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2023 |
9. | LEASING AGREEMENTS |
The following operating lease income is committed to be received: |
Non-cancellable |
operating leases |
2023 | 2022 |
Within one year | 194,750 | 127,000 |
Between one and five years | 491,000 | 65,250 |
685,750 | 192,250 |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax timing difference |
Deferred |
tax |
£ |
Balance at 1 November 2022 |
Provided during year |
Balance at 31 October 2023 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
During the year, the company paid interest of £11,528 (2022: £11,528) to the immediate parent undertaking. Included in creditors is a balance of £277,374 (2022: £277,374) owed to the company. |
13. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent undertaking is Beaumont Lodge Limited. The ultimate parent undertaking is Beaumont Lodge Holdings Limited. The registered office of both companies is 19-21 Heatherley Road, Camberley, Surrey, GU15 3LX. Copies of the consolidated financial statements are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ. |