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REGISTERED NUMBER: 11093946 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 December 2023

for

RCS Property Holdings Limited

RCS Property Holdings Limited (Registered number: 11093946)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RCS Property Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr R C Stebbings





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE





REGISTERED NUMBER: 11093946 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

RCS Property Holdings Limited (Registered number: 11093946)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 220 330
Investment property 5 468,000 450,000
468,220 450,330

CURRENT ASSETS
Debtors 6 1,280 1,280
Cash at bank 3,593 71,714
4,873 72,994
CREDITORS
Amounts falling due within one year 7 183,340 166,042
NET CURRENT LIABILITIES (178,467 ) (93,048 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,753

357,282

CREDITORS
Amounts falling due after more than one
year

8

(183,596

)

(260,015

)

PROVISIONS FOR LIABILITIES (21,301 ) (17,881 )
NET ASSETS 84,856 79,386

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 84,756 79,286
84,856 79,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RCS Property Holdings Limited (Registered number: 11093946)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 September 2024 and were signed by:





Mr R C Stebbings - Director


RCS Property Holdings Limited (Registered number: 11093946)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

RCS Property Holdings 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable in respect of property rentals.

The income reflects the period in which the rent in payable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investment property
Investments properties are valued at the fair value at the year end. Any gain or loss arising from the changes in fair value has been recognised in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

RCS Property Holdings Limited (Registered number: 11093946)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 440
DEPRECIATION
At 1 January 2023 110
Charge for year 110
At 31 December 2023 220
NET BOOK VALUE
At 31 December 2023 220
At 31 December 2022 330

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 450,000
Revaluations 18,000
At 31 December 2023 468,000
NET BOOK VALUE
At 31 December 2023 468,000
At 31 December 2022 450,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 20,113
Valuation in 2020 31,000
Valuation in 2021 23,000
Valuation in 2022 20,000
Valuation in 2023 18,000
Cost 355,887
468,000

RCS Property Holdings Limited (Registered number: 11093946)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 1,280 1,280

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 183,340 166,042

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 183,596 260,015

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 183,596 260,015

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 183,596 260,015

The company has two charges outstanding in respect of borrowings taken on on its property portfolio. One charge dated 26 April 2018 is with One Savings Bank PLC and the second dated 11 October 2018 is with Paratus Amc Ltd.

10. RESERVES
Retained
earnings
£   

At 1 January 2023 79,286
Profit for the year 6,470
Dividends (1,000 )
At 31 December 2023 84,756

Included within reserves are £90,811 of undistributable reserves arising on property revaluations.