Registered number
09171428
RSC TRADING LIMITED
Filleted Accounts
31 August 2023
RSC TRADING LIMITED
Registered number: 09171428
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,554,000 1,554,000
Current assets
Debtors 4 11,800 12,740
Cash at bank and in hand 26,985 29,006
38,785 41,746
Creditors: amounts falling due within one year 5 (39,717) (41,998)
Net current liabilities (932) (252)
Total assets less current liabilities 1,553,068 1,553,748
Creditors: amounts falling due after more than one year 6 (241,426) (276,121)
Provisions for liabilities (223,499) (223,499)
Net assets 1,088,143 1,054,128
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 952,811 952,811
Profit and loss account 135,232 101,217
Shareholders' funds 1,088,143 1,054,128
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.
Mr Ramanpreet Singh CHIND
Director
Approved by the board on 29 August 2024
RSC TRADING LIMITED
Notes to the Accounts
for the year ended 31 August 2023
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (if applicable). Turnover represents the value of rent receivable.
Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.
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 and subsequently measured at amortised cost determined using the effective interest method, 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 and subsequently measured at amortised cost determined using the effective interest method.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2022 1,554,000
At 31 August 2023 1,554,000
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 1,554,000
At 31 August 2022 1,554,000
4 Debtors 2023 2022
£ £
Other debtors 11,800 12,740
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 3,907
Taxation and social security costs 16,433 16,042
Other creditors 23,284 22,049
39,717 41,998
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 12,006 11,969
Other creditors 229,420 264,152
241,426 276,121
7 Revaluation reserve 2023 2022
£ £
At 1 September 2022 952,811 952,811
At 31 August 2023 952,811 952,811
8 Related party transactions 2023 2022
£ £
Romans Haus Ltd
A company incorporated in England and Wales with common contral
Rent receivable - 12,000
Other debtors include balance due from - -
Other creditors include balance due to 20,550 20,550
Mrs Satparkash Chind
A 50% shareholder
Unsecured loan (rate of interest 0%) 241,276 264,152
9 Controlling party
The company is under the control of its director Mr Ramanpreet CHIND.
10 Other information
RSC TRADING LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
111 Cornwall Avenue
Southall,
UB1 2TQ
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