REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 DECEMBER 2022 TO 29 DECEMBER 2023 |
FOR |
REELSTONE PROPERTY HOLDINGS LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
31 DECEMBER 2022 TO 29 DECEMBER 2023 |
FOR |
REELSTONE PROPERTY HOLDINGS LIMITED |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Accountants' Report | 9 |
REELSTONE PROPERTY HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
HA8 7LW |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
BALANCE SHEET |
29 DECEMBER 2023 |
29.12.23 | 30.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings | 9 |
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. |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
BALANCE SHEET - continued |
29 DECEMBER 2023 |
The financial statements were approved by the director and authorised for issue on |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Reelstone Property Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced ground rents and other income on investment properties. |
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 period 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 balance sheet date. |
Cash and cash equivalent |
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid invesetments with original maturities of three months or less. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no state interest rate and receivable or payable within one year are recoded at transactions price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 31 December 2022 |
and 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
At 30 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 December 2022 |
and 29 December 2023 |
NET BOOK VALUE |
At 29 December 2023 |
At 30 December 2022 |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.12.23 | 30.12.22 |
£ | £ |
Payments in Advance | 103,931 | 103,931 |
Amounts owed by group undertakings |
Other debtors- |
Chancery Lane Investments | - | 150,000 |
MEM - Client Account | - | 300 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.12.23 | 30.12.22 |
£ | £ |
Amounts owed to group undertakings |
Taxation |
Other creditors |
MP Group Service Ltd | - | 649,383 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 29.12.23 | 30.12.22 |
value: | £ | £ |
Ordinary | 1 | 50,100 | 50,100 |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 31 December 2022 | 5,038 |
Profit for the period |
Dividends | ( |
) | ( |
) |
At 29 December 2023 | 7,488 |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
10. | RELATED PARTY DISCLOSURES |
Chancery Lane Investments Limited |
A wholly owned subsidiary of the company |
Other income relates to a dividend received of £250,000 (2022: £150,000) from Chancery Lane Investments Limited. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 400,310 | 150,000 |
Ground Rent Investments UK Ltd |
A company under common control |
This is repayable on demand. |
Other income relates to a dividend received of £ Nil (2022: £Nil) from Ground Rent Investment UK Ltd |
Moreland Estate Property Management Limited |
A company under common control |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 1,000 | - |
MW Freeholds Ltd |
A company under common control |
29.12.23 | 30.12.22 |
£ | £ |
Amount due from related party at the balance sheet date | 9,675 | - |
Ground Rent Trading Limited |
A company under common control |
This is repayable on demand. |
REELSTONE PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 06282312) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 31 DECEMBER 2022 TO 29 DECEMBER 2023 |
10. | RELATED PARTY DISCLOSURES - continued |
MP Group Services Ltd |
A company under common control.- |
This is repayable on demand. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due to related party at the balance sheet date | 649,383 | 649,383 |
Moreland Property Group Ltd |
Parent company |
A dividend amounting to £200,000 (2022: £140,000) was voted to Moreland Property Group Ltd during the year. |
29.12.23 | 30.12.22 |
£ | £ |
Amount due to related party at the balance sheet date | 1,051,456 | 873,533 |
11. | ULTIMATE PARENT COMPANY |
The Moreland Property Group is regarded by the director as being the ultimate parent company. |
ULTIMATE CONTROLLING PARTY |
The director considers the ultimate controlling party of the company to be the board of the Moreland Property Group Limited. |
ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
REELSTONE PROPERTY HOLDINGS LIMITED |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reelstone Property Holdings Limited for the period ended 29 December 2023 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the director of Reelstone Property Holdings Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reelstone Property Holdings Limited and state those matters that we have agreed to state to the director of Reelstone Property Holdings Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reelstone Property Holdings Limited and its director for our work or for this report. |
It is your duty to ensure that Reelstone Property Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Reelstone Property Holdings Limited. You consider that Reelstone Property Holdings Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Reelstone Property Holdings 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 financial statements. |
Chartered Accountants |
Russell House |
140 High Street |
Edgware |
HA8 7LW |