Registered number
09348201
RNL Properties Limited
Filleted Accounts
29 June 2024
RNL Properties Limited
Registered number: 09348201
Balance Sheet
as at 29 June 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 - 575
Investments 4 1,794,254 6,927,430
1,794,254 6,928,005
Current assets
Debtors 5 5,533,085 80,444
Cash at bank and in hand 6,125,415 6,091,056
11,658,500 6,171,500
Creditors: amounts falling due within one year 6 (93,817) (27,797)
Net current assets 11,564,683 6,143,703
Total assets less current liabilities 13,358,937 13,071,708
Provisions for liabilities (197,904) (232,928)
Net assets 13,161,033 12,838,780
Capital and reserves
Called up share capital 21,183 21,183
Share premium 9,751,948 9,751,948
Revaluation reserve 7 593,711 676,641
Profit and loss account 2,794,191 2,389,008
Shareholders' funds 13,161,033 12,838,780
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M L Rijks
Director
Approved by the board on 13 August 2024
RNL Properties Limited
Notes to the Accounts
for the period from 1 January 2023 to 29 June 2024
1 Accounting policies
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).
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;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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years straight line
Investments
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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, and is shown as provision for liabilities in the balance sheet.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 January 2023 6,876
At 29 June 2024 6,876
Depreciation
At 1 January 2023 6,301
Charge for the period 575
At 29 June 2024 6,876
Net book value
At 29 June 2024 -
At 31 December 2022 575
4 Investments
Listed Unlisted
investments investments Total
£ £ £
Cost or valuation
At 1 January 2023 5,119,775 1,807,655 6,927,430
Additions 626,030 39,634 665,664
Revaluation 162,168 - 162,168
Disposals (5,907,973) (53,035) (5,961,008)
At 29 June 2024 - 1,794,254 1,794,254
Historical cost
At 1 January 2023 5,001,613 1,016,039
At 29 June 2024 - 1,002,638
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Crispa Limited Ordinary 100 153,218 153,118
Tulipette Limited Ordinary 100 230,082 229,982
5 Debtors 2024 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 5,396,705 -
Other debtors 136,380 80,444
5,533,085 80,444
Amounts due after more than one year included above 5,396,705 -
6 Creditors: amounts falling due within one year 2024 2022
£ £
Taxation and social security costs 86,982 21,525
Other creditors 6,835 6,272
93,817 27,797
7 Revaluation reserve 2024 2022
£ £
At 1 January 2023 676,641 1,237,541
Loss on revaluation of land and buildings (117,954) -
Transfer from Profit & Loss Reserve: unrealised revaluations - (652,024)
Deferred taxation arising 35,024 91,124
At 29 June 2024 593,711 676,641
8 Other information
RNL Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
Crispa, Bashurst Copse
Itchingfield
Horsham
West Sussex
RH13 0NZ
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