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REGISTERED NUMBER: 08452927 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

RAIN CLOUD PROPERTIES LIMITED

RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAIN CLOUD PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: L Mclean





REGISTERED OFFICE: Sykes Cottage
Mowbage Lane
Peterchurch
Herefordshire
HR2 0RZ





REGISTERED NUMBER: 08452927 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
Unit 4 Mulgrave Chambers
26-28 Mulgrave Road
Sutton
Surrey
SM2 6LE

RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 918 -
Investments 5 3,007 3,007
Investment properties 6 893,000 840,000
896,925 843,007

CURRENT ASSETS
Debtors 7 510,444 499,657
Cash at bank 79,389 89,151
589,833 588,808
CREDITORS
Amounts falling due within one year 8 6,353 5,322
NET CURRENT ASSETS 583,480 583,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,480,405

1,426,493

CREDITORS
Amounts falling due after more than one
year

9

(202,979

)

(202,965

)

PROVISIONS FOR LIABILITIES 11 (37,180 ) (24,089 )
NET ASSETS 1,240,246 1,199,439

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 169,643 129,734
Retained earnings 1,070,503 1,069,605
SHAREHOLDERS' FUNDS 1,240,246 1,199,439

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 October 2024 and were signed by:





L Mclean - Director


RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Rain Cloud Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The director, having considered all the information available, is confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the director is satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Rain Cloud Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the rents receivable from the company's investment properties.

Revenue is recognised in the accounting period in which rents are receivable.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment properties
Investment Properties are shown at fair value. Any aggregate surplus or deficit that arises from a change in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "Fair value reserve".

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 balance sheet date.


RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2023 2,448
Additions 1,050
Disposals (1,599 )
At 31 March 2024 1,899
DEPRECIATION
At 1 April 2023 2,448
Charge for year 132
Eliminated on disposal (1,599 )
At 31 March 2024 981
NET BOOK VALUE
At 31 March 2024 918
At 31 March 2023 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 3,007
NET BOOK VALUE
At 31 March 2024 3,007
At 31 March 2023 3,007

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Rain Cloud Apartments Limited (a company incorporated in Grenada)
Registered office: PO Box 2825, Sauteurs, St Patrick's, Grenada, WI
Nature of business: Holiday lettings
%
Class of shares: holding
Ordinary at EC$1 100.00
31.8.24 31.5.23
£    £   
Aggregate capital and reserves (101,153 ) (78,671 )
Loss for the year (22,831 ) (32,914 )

RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 April 2023 840,000
Revaluations 53,000
At 31 March 2024 893,000
NET BOOK VALUE
At 31 March 2024 893,000
At 31 March 2023 840,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 19,919
Valuation in 2016 40,000
Valuation in 2017 23,557
Valuation in 2018 346
Valuation in 2019 (12,000 )
Valuation in 2022 82,000
Valuation in 2024 53,000
Cost 686,178
893,000

The director confirms that the properties remain valued on an open market basis, based on rental yields.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 509,162 498,427
Prepayments and accrued income 1,282 1,230
510,444 499,657

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 2,927 2,008
Other creditors 1,032 980
Director's current account 54 54
Accruals and deferred income 2,340 2,280
6,353 5,322

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs non-inst 202,979 202,965

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 202,979 202,965

RAIN CLOUD PROPERTIES LIMITED (REGISTERED NUMBER: 08452927)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 202,979 202,965

The bank loan is secured by a fixed charge and negative pledge against one of the investment properties held on the balance sheet.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Property revaluations 37,180 24,089

Deferred
tax
£   
Balance at 1 April 2023 24,089
Provided during year 13,091
Balance at 31 March 2024 37,180

12. RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £509,162 (2023: £498,427) was owed to the company from its subsidiary company.

At the year end, the Director was owed £54 (2023: £54) to the company. The loan is interest free and with no fixed repayment terms.