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Company Registration No. 13240119 (England and Wales)
RIO PROPERTY SOLUTIONS LTD Unaudited accounts for the year ended 31 March 2024
RIO PROPERTY SOLUTIONS LTD Unaudited accounts Contents
Page
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RIO PROPERTY SOLUTIONS LTD Company Information for the year ended 31 March 2024
Director
Toorban Mandal
Company Number
13240119 (England and Wales)
Registered Office
32 WELFORD AVENUE NEWCASTLE UPON TYNE NE3 3UY UNITED KINGDOM
Accountants
Taxez 5 South Charlotte Street Edinburgh EH2 4AN
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RIO PROPERTY SOLUTIONS LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
292 
390 
Investment property
259,261 
164,588 
259,553 
164,978 
Current assets
Cash at bank and in hand
163 
19,186 
Creditors: amounts falling due within one year
(74,310)
(70,812)
Net current liabilities
(74,147)
(51,626)
Total assets less current liabilities
185,406 
113,352 
Creditors: amounts falling due after more than one year
(182,565)
(115,085)
Net assets/(liabilities)
2,841 
(1,733)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
2,840 
(1,734)
Shareholders' funds
2,841 
(1,733)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 July 2024 and were signed on its behalf by
Toorban Mandal Director Company Registration No. 13240119
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RIO PROPERTY SOLUTIONS LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
RIO PROPERTY SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 13240119. The registered office is 32 WELFORD AVENUE, NEWCASTLE UPON TYNE, NE3 3UY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
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RIO PROPERTY SOLUTIONS LTD Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2023
610 
At 31 March 2024
610 
Depreciation
At 1 April 2023
220 
Charge for the year
98 
At 31 March 2024
318 
Net book value
At 31 March 2024
292 
At 31 March 2023
390 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
164,588 
Additions
94,673 
At 31 March 2024
259,261 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,510 
774 
Loans from directors
72,501 
69,739 
Accruals
299 
299 
74,310 
70,812 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
182,565 
115,085 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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