0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,860,276 289,724 2,150,000 2,150,000 1,860,276 xbrli:pure xbrli:shares iso4217:GBP 10746908 2023-05-01 2024-04-30 10746908 2024-04-30 10746908 2023-04-30 10746908 2022-05-01 2023-04-30 10746908 2023-04-30 10746908 2022-04-30 10746908 bus:Director1 2023-05-01 2024-04-30 10746908 core:WithinOneYear 2024-04-30 10746908 core:WithinOneYear 2023-04-30 10746908 core:AfterOneYear 2024-04-30 10746908 core:AfterOneYear 2023-04-30 10746908 core:ShareCapital 2024-04-30 10746908 core:ShareCapital 2023-04-30 10746908 core:RevaluationReserve 2024-04-30 10746908 core:RevaluationReserve 2023-04-30 10746908 core:RetainedEarningsAccumulatedLosses 2024-04-30 10746908 core:RetainedEarningsAccumulatedLosses 2023-04-30 10746908 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 10746908 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 10746908 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 10746908 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10746908 bus:SmallEntities 2023-05-01 2024-04-30 10746908 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10746908 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 10746908 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10746908 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 10746908
Refined Properties Limited
Filleted Unaudited Financial Statements
30 April 2024
Refined Properties Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
2,150,000
1,860,276
Current assets
Debtors
5
2,497
1,322
Cash at bank and in hand
1
500
-------
-------
2,498
1,822
Creditors: amounts falling due within one year
6
931,413
934,139
---------
---------
Net current liabilities
928,915
932,317
------------
------------
Total assets less current liabilities
1,221,085
927,959
Creditors: amounts falling due after more than one year
7
465,307
505,382
Provisions
133,029
46,054
------------
---------
Net assets
622,749
376,523
------------
---------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
399,085
196,336
Profit and loss account
223,564
180,087
---------
---------
Shareholder funds
622,749
376,523
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Refined Properties Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 4 October 2024 , and are signed on behalf of the board by:
Mr A Hussain
Director
Company registration number: 10746908
Refined Properties Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 145 Castle Road, Bedford, MK40 3RS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Deferred taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Freehold property
£
Cost or valuation
At 1 May 2023
1,860,276
Revaluations
289,724
------------
At 30 April 2024
2,150,000
------------
Depreciation
At 1 May 2023 and 30 April 2024
------------
Carrying amount
At 30 April 2024
2,150,000
------------
At 30 April 2023
1,860,276
------------
5. Debtors
2024
2023
£
£
Trade debtors
2,497
1,322
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
40,000
40,000
Trade creditors
( 1,465)
Corporation tax
13,179
20,252
Social security and other taxes
5,888
4,576
Service charge
1,916
( 1,079)
Other creditors
870,430
871,855
---------
---------
931,413
934,139
---------
---------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
465,307
505,382
---------
---------