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REGISTERED NUMBER: 11578967 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED

RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED (REGISTERED NUMBER: 11578967)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: J E Billingham





REGISTERED OFFICE: c/o BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF





REGISTERED NUMBER: 11578967 (England and Wales)





ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF

RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED (REGISTERED NUMBER: 11578967)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
CURRENT ASSETS
Debtors 4 5,627,273 4,182,035

CREDITORS
Amounts falling due within one year 5 5,021,961 5,915,946
NET CURRENT ASSETS/(LIABILITIES) 605,312 (1,733,911 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

605,312

(1,733,911

)

CREDITORS
Amounts falling due after more than one
year

6

3,433,792

-
NET LIABILITIES (2,828,480 ) (1,733,911 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (2,828,580 ) (1,734,011 )
SHAREHOLDERS' FUNDS (2,828,480 ) (1,733,911 )

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 director acknowledges his 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.

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 director and authorised for issue on 21 August 2024 and were signed by:





J E Billingham - Director


RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED (REGISTERED NUMBER: 11578967)

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


1. STATUTORY INFORMATION

Residential Rents Receivable Secured Loan Note Limited is a private company, limited by shares , registered in England and Wales. 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.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Trade debtors 1,428,823 452,343
Amounts owed by related parties - 1,036,715
Other debtors (949,405 ) (731,142 )
479,418 757,916

Amounts falling due after more than one year:
Trade debtors 5,147,855 3,424,119

Aggregate amounts 5,627,273 4,182,035

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 3,477 4,633
Amounts owed to group undertakings 2,055,085 2,870,660
Amounts owed to related parties 2,704,511 -
Other creditors 258,888 3,040,653
5,021,961 5,915,946

RESIDENTIAL RENTS RECEIVABLE SECURED
LOAN NOTE LIMITED (REGISTERED NUMBER: 11578967)

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


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors 3,433,792 -

7. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Loan note funding 3,433,792 2,853,561

Loan note funding is secured by way of a fixed charge against loan debtor balances owed to the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J E Billingham.

The company is under the control of Mr J E Billingham as the sole shareholder of the company's holding company.

10. BASIS OF PREPARATION

The company incurred a loss for the year of £1,094,569 (2022: £473,915) and at the balance sheet date had net liabilities of £2,828,480 (2022: £1,733,911). The financial statements have been prepared on the going concern basis, which is dependent upon continued financial support from the director, other group companies and other companies not part of the group that are under common ownership. The controlling party, Mr J E Billingham has indicated that such financial support will continue.