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Registration number: 13047498

RCA Residential Projects Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

RCA Residential Projects Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

RCA Residential Projects Limited

Company Information

Directors

Mr RS Ingleby

Mr J Rosenblatt

Mr C Eddlestone

Mrs J P Lewis

Miss CD Wilkinson

Registered office

8 Avroe Crescent
Blackpool
Lancashire
FY4 2DP

Accountants

Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RCA Residential Projects Limited
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RCA Residential Projects Limited for the year ended 30 November 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of RCA Residential Projects Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of RCA Residential Projects Limited and state those matters that we have agreed to state to the Board of Directors of RCA Residential Projects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RCA Residential Projects Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that RCA Residential Projects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RCA Residential Projects Limited. You consider that RCA Residential Projects Limited 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 RCA Residential Projects Limited. 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.

......................................

Crossley & Davis Chartered Accountants
Ground Floor Seneca House
Links Point
Amy Johnson Way
Blackpool
FY4 2FF

30 August 2024

 

RCA Residential Projects Limited

(Registration number: 13047498)
Balance Sheet as at 30 November 2023

Note

2023
£

(As restated)

2022
£

Current assets

 

Debtors

4

17,555

4,853

Cash at bank and in hand

 

1,309,994

390,418

 

1,327,549

395,271

Creditors: Amounts falling due within one year

5

(70,210)

(15,956)

Total assets less current liabilities

 

1,257,339

379,315

Creditors: Amounts falling due after more than one year

5

(1,310,000)

(400,000)

Net liabilities

 

(52,661)

(20,685)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(52,662)

(20,686)

Shareholders' deficit

 

(52,661)

(20,685)

For the financial year ending 30 November 2023 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 30 August 2024 and signed on its behalf by:
 

.........................................
Miss CD Wilkinson
Director

 

RCA Residential Projects Limited

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

1

General information

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

The address of its registered office is:
8 Avroe Crescent
Blackpool
Lancashire
FY4 2DP
England

These financial statements were authorised for issue by the Board on 30 August 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.

 

RCA Residential Projects Limited

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

Prior period errors

A restatement was made to the year ended 30 November 2022 financial statements to recognise the trading activity for the year, as the company was not dormant.

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Profit and loss

-

(20,686)

-

Retained earnings

(20,686)

-

-

Bank

390,418

390,418

-

Other borrowings due after more than one year

400,000

400,000

-

Other creditors

15,956

15,956

-

Other debtors

4,852

4,852

-

   

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

RCA Residential Projects Limited

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Debtors

Current

2023
£

(As restated)

2022
£

Other debtors

17,555

4,853

 

17,555

4,853

 

RCA Residential Projects Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

(As restated)

2022
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9,578

-

Accruals and deferred income

 

12,692

-

Other creditors

 

47,940

15,956

 

70,210

15,956

Creditors: amounts falling due after more than one year

Note

2023
£

(As restated)

2022
£

Due after one year

 

Loans and borrowings

7

1,310,000

400,000

Included within creditors: amounts falling due after more than one year, are amounts totalling £1,310,000 (2022: £400,000) which are secured by way of fixed and floating charges. The loans are secured over all the property or undertaking of the company. The loans contain a negative pledge.

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       
 

RCA Residential Projects Limited

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

7

Loans and borrowings

Non-current loans and borrowings

2023
£

(As restated)

2022
£

Other borrowings

1,310,000

400,000