Registered number
07493107
RE Properties Limited
Filleted Accounts
31 March 2024
RE Properties Limited
Registered number: 07493107
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 430,000 657,433
Current assets
Debtors 4 100,386 7,407
Cash at bank and in hand 30,448 24,679
130,834 32,086
Creditors: amounts falling due within one year 5 (64,570) (49,423)
Net current assets/(liabilities) 66,264 (17,337)
Net assets 496,264 640,096
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 249,625 272,710
Profit and loss account 246,637 367,384
Shareholders' funds 496,264 640,096
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R W Emanuel
Director
Approved by the board on 19 September 2024
RE Properties Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
In accordance with SSAP 19, investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve and no depreciation is provided in respect of freehold properties. The directors consider that this accounting policy results in the financial statements giving a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which otherwise might have been shown cannot be separately identified or quantified.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Number of Employees 2024 2023
No No
0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 657,433
Disposals (227,433)
At 31 March 2024 430,000
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 430,000
At 31 March 2023 657,433
Freehold land and buildings: 2024 2023
£ £
Historical cost 657,433 657,433
Cumulative depreciation based on historical cost - -
657,433 657,433
4 Debtors 2024 2023
£ £
Trade debtors 4,226 5,713
Other debtors 96,160 1,694
100,386 7,407
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 5,016 5,546
Other creditors 59,554 43,877
64,570 49,423
6 Revaluation reserve 2024 2023
£ £
At 1 April 2023 272,710 272,710
Released on disposal of properties (23,085) -
At 31 March 2024 249,625 272,710
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr R W Emanuel
Directors loan account (10,785) 616 (15,831) (26,000)
8 Other information
RE Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Ty Nant Court
Morganstown
Cardiff
CF15 8LW
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