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Registration number: 04467921

Rebal Estates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Rebal Estates Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Rebal Estates Ltd

Company Information

Directors

Michael Charles Davies

Jane Elizabeth Davies

Registered office

The Coach House
The Village
Burton
Wirral
CH64 5TE

Accountants

King Street Accounts
35A King Street
Whalley
Clitheroe
Lancs
BB7 9SP

 

Rebal Estates Ltd

(Registration number: 04467921)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

59,540

395

Investment property

5

3,108,500

3,108,500

 

3,168,040

3,108,895

Current assets

 

Cash at bank and in hand

 

129,873

249,678

Creditors: Amounts falling due within one year

6

(66,236)

(16,618)

Net current assets

 

63,637

233,060

Total assets less current liabilities

 

3,231,677

3,341,955

Creditors: Amounts falling due after more than one year

6

(76,783)

(113,300)

Provisions for liabilities

(320,100)

(320,100)

Net assets

 

2,834,794

2,908,555

Capital and reserves

 

Called up share capital

7

1,022

1,022

Revaluation reserve

1,398,632

1,398,632

Retained earnings

1,435,140

1,508,901

Shareholders' funds

 

2,834,794

2,908,555

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 June 2024 and signed on its behalf by:
 

 

Rebal Estates Ltd

(Registration number: 04467921)
Balance Sheet as at 31 March 2024

.........................................
Michael Charles Davies
Director

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Coach House
The Village
Burton
Wirral
CH64 5TE
England

These financial statements were authorised for issue by the Board on 10 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

30% pa reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

10,640

-

10,640

Additions

-

66,210

66,210

At 31 March 2024

10,640

66,210

76,850

Depreciation

At 1 April 2023

10,245

-

10,245

Charge for the year

169

6,896

7,065

At 31 March 2024

10,414

6,896

17,310

Carrying amount

At 31 March 2024

226

59,314

59,540

At 31 March 2023

395

-

395

5

Investment properties

2024
£

At 1 April

3,108,500

At 31 March

3,108,500

There has been no valuation of investment property by an independent valuer.

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

55,060

-

Trade creditors

 

6,200

6,000

Taxation and social security

 

4,806

10,448

Other creditors

 

170

170

 

66,236

16,618

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

76,783

113,300

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary £1 Shares of £1 each

510

510

510

510

Ordinary A £1 Shares of £1 each

510

510

510

510

Ordinary B £1 Shares of £1 each

2

2

2

2

 

1,022

1,022

1,022

1,022

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

 

Rebal Estates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

(90,000)

(90,000)

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

76,783

113,300

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

55,060

-

10

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of 60.78 (2023 - 50.98) per each Ordinary £1 Shares

 

31,000

 

26,000

Interim dividend of 60.78 (2023 - 50.98) per each Ordinary A £1 Shares

 

31,000

 

26,000

Interim dividend of 6,750.00 (2023 - Nil) per each Ordinary B £1 shares

 

13,500

 

-

   

75,500

 

52,000

11

Related party transactions

As at the 31 March 2024 £76,781 was owed to the Directors (2023 £113,299 owed ).
Dividends of £62,000 were paid to the Directors in the year ( 2023 £52,000 paid ) .