REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
RENSOUELL PROPERTY INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
RENSOUELL PROPERTY INVESTMENTS LIMITED |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Contents of the Financial Statements |
for the year ended 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
RENSOUELL PROPERTY INVESTMENTS LIMITED |
Company Information |
for the year ended 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Global House |
303 Ballards Lane |
London |
N12 8NP |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Statement of Financial Position |
31 MARCH 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment properties | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Statement of Financial Position - continued |
31 MARCH 2024 |
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 |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Notes to the Financial Statements |
for the year ended 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Rensouell Property Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Notes to the Financial Statements - continued |
for the year ended 31 MARCH 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | INVESTMENT PROPERTIES |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2016 | 786,142 |
Valuation in 2002 | 450,372 |
Cost | 1,263,486 |
2,500,000 |
The fair value of the property at March 2024 has been arrived at on the basis of a valuation carried by Mr Christo, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the rental yield in the area where the properties are situated. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Other debtors |
RENSOUELL PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 00811526) |
Notes to the Financial Statements - continued |
for the year ended 31 MARCH 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
The bank loan is secured by a charge on one of the investment properties owned by the company. |
9. | PROVISIONS FOR LIABILITIES |
31/3/24 | 31/3/23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred tax | 309,129 | 247,303 |
309,543 | 247,662 |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year |
Balance at 31 March 2024 |
The deferred tax provision as shown above relates to the potential future tax due should the investment properties held by the company be sold. The provision has been calculated based on the difference between the historic cost of the properties and the market value of those properties as at the Balance Sheet date at the expected applicable corporation tax rate of 25%. |