smallAccCompHo_0921.xslt
Company Registration No. SC634667 (Scotland)
RFP PROPERTY LIMITED
Financial Statements
for the Period from 01 June 2023 to 31 May 2024

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

1. Statutory Information
RFP PROPERTY LIMITED is a private company, limited by shares, registered in Scotland, registration number SC634667.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006
Presentation Currency
The accounts are presented in £ sterling.
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 rendering of services. Turnover is reduced for customer returns, rebates and other similar allowances.Turnover is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually the rental income recognised at the end of each month.

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

Current Tax
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 reporting date.
Tangible Fixed Asset Policy
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value of their expected lives on the following bases:Freehold: 10

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

Deferred Tax
Deferred Tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred Tax is provided in full on timing differences which result in an obligation to pay more or less at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws that substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2024 2
2023 2
4. Principal Activity
The principal activity of this company is property rental.

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

5. Fixed Assets
Computer Equipment Total
Cost or valuation £ £
At 01/06/2023 899 899
Additions - -
At 31/05/2024 899 899
Depreciation
At 01/06/2023 300 300
Charge for the year 599 599
At 31/05/2024 899 899
Net Book Value
At 31/05/2024 - -
At 31/05/2023 599 599

RFP PROPERTY LIMITED

Financial Statements for the period ending 31 May 2024

Notes to the Accounts

6. Investment Properties
2024 2023
£ £
Valuation at 01/06/2023 145,000 145,000
Additions - -
Disposals - -
Transfered (to)/from tangible fixed assets - -
Fair Value adjustments (5,000) -
Valuation at 31/05/2024 140,000 145,000