Company Registration No. 10152003 (England and Wales)
Reach UK Properties Ltd
Unaudited accounts
for the year ended 30 April 2024
Reach UK Properties Ltd
Unaudited accounts
Contents
Reach UK Properties Ltd
Company Information
for the year ended 30 April 2024
Directors
Joanne Rachael O'Connor
Kevin Williams
K Williams
J O'Connor
Company Number
10152003 (England and Wales)
Registered Office
First Floor
85 Great Portland Street
London
W1W 7LT
United Kingdom
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Reach UK Properties Ltd
Accountants' report
Accountants' report to the board of directors of Reach UK Properties Ltd on the preparation of the unaudited statutory accounts for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Reach UK Properties Ltd for the year ended
30 April 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Reach UK Properties Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Reach UK Properties Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reach UK Properties Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Reach UK Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Reach UK Properties Ltd. You consider that Reach UK Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Reach UK Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
15 July 2024
Reach UK Properties Ltd
Statement of financial position
as at 30 April 2024
Investment property
475,000
455,000
Cash at bank and in hand
3,590
4,871
Creditors: amounts falling due within one year
(67,641)
(85,257)
Net current liabilities
(16,700)
(33,031)
Total assets less current liabilities
458,300
421,969
Creditors: amounts falling due after more than one year
(300,718)
(300,718)
Net assets
157,582
121,251
Called up share capital
120
120
Revaluation reserve
179,805
159,805
Profit and loss account
(22,343)
(38,674)
Shareholders' funds
157,582
121,251
For the year ending 30 April 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 directors acknowledge their 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 of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by
Joanne Rachael O'Connor
Director
Company Registration No. 10152003
Reach UK Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
Reach UK Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 10152003. The registered office is First Floor, 85 Great Portland Street, London, W1W 7LT, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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:
Fixtures & fittings
Between 25% and 33% on cost
Reach UK Properties Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 May 2023
455,000
Net gain from fair value adjustments
20,000
The investment property was valued by the Director at the year end.
Amounts falling due within one year
Other debtors
47,351
47,355
7
Creditors: amounts falling due within one year
2024
2023
Other creditors
2,515
2,519
Loans from directors
65,126
82,738
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
300,718
300,718
Aggregate of amounts that fall due for payment after five years
300,718
300,718
9
Transactions with related parties
At the year end, the company was owed £44,836 (2023 - £44,836) by Lincolnshire Property Partners, a related company. This amount is interest-free and repayable on demand.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).