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Registration number: 12075497

R H Unwin Properties Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

R H Unwin Properties Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

R H Unwin Properties Ltd

Company Information

Director

Mr Robert Hope Unwin

Registered office

Adams Peak
Thorne Lane
Lufton
Yeovil
Somerset
BA22 8SZ

Accountants

AWG Accountants Ltd
Chartered Accountant
Kemp House
City Road
London
EC1V 2NX

 

R H Unwin Properties Ltd

(Registration number: 12075497)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

7,796

10,395

Investment property

5

1,512,961

912,961

 

1,520,757

923,356

Current assets

 

Cash at bank and in hand

 

170,965

94,036

Creditors: Amounts falling due within one year

6

(743,243)

(726,952)

Net current liabilities

 

(572,278)

(632,916)

Net assets

 

948,479

290,440

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

750,000

150,000

Retained earnings

198,379

140,340

Shareholders' funds

 

948,479

290,440

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 July 2024
 

.........................................
Mr Robert Hope Unwin
Director

 

R H Unwin Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Adams Peak
Thorne Lane
Lufton
Yeovil
Somerset
BA22 8SZ
United Kingdom

These financial statements were authorised for issue by the director on 22 July 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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.

 

R H Unwin Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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.

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 the director) during the year, was 1 (2023 - 1).

 

R H Unwin Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

13,860

13,860

At 30 June 2024

13,860

13,860

Depreciation

At 1 July 2023

3,465

3,465

Charge for the year

2,599

2,599

At 30 June 2024

6,064

6,064

Carrying amount

At 30 June 2024

7,796

7,796

At 30 June 2023

10,395

10,395

5

Investment properties

2024
£

At 1 July

912,961

Fair value adjustments

600,000

At 30 June

1,512,961

There has been no valuation of investment property by an independent valuer, property has been reflected at it's fair value based on market information available and informal discussions with property valuers.

There has been no valuation of investment property by an independent valuer.

 

R H Unwin Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

18,308

13,217

Accruals and deferred income

1,810

1,810

Other creditors

723,125

711,925

743,243

726,952

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

600,000

600,000

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

9

Related party transactions

 

R H Unwin Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,576

12,576