Registered number
03718013
R.G.L Construction Developments Limited
Filleted Accounts
30 April 2024
R.G.L Construction Developments Limited
Registered number: 03718013
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 85,000 236,789
Current assets
Debtors 4 12,000 -
Cash at bank and in hand 71,909 65,340
83,909 65,340
Creditors: amounts falling due within one year 5 (3,590) (12,538)
Net current assets 80,319 52,802
Total assets less current liabilities 165,319 289,591
Creditors: amounts falling due after more than one year 6 - (83,195)
Provisions for liabilities (4,196) -
Net assets 161,123 206,396
Capital and reserves
Called up share capital 2 2
Revaluation reserve 8 43,000 32,971
Profit and loss account 118,121 173,423
Shareholders' funds 161,123 206,396
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.
G.J. Lewis
Director
Approved by the board on 25 September 2024
R.G.L Construction Developments Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of rental income received on the company's investment properties.
Investment properties
Investment properties are initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment properties Furniture Total
£ £ £
Cost / valuation
At 1 May 2023 225,000 11,789 236,789
Surplus on revaluation 10,029 - 10,029
Disposals (150,029) (11,789) (161,818)
At 30 April 2024 85,000 - 85,000
Depreciation
At 30 April 2024 - - -
Net book value
At 30 April 2024 85,000 - 85,000
At 30 April 2023 225,000 11,789 236,789
The investment properties were valued at the year end by the directors.
Investment properties; 2024 2023
£ £
Historical cost 42,000 192,029
Cumulative depreciation based on historical cost - -
42,000 192,029
4 Debtors 2024 2023
£ £
Directors loan account 12,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,590 3,690
Taxation and social security costs - 8,848
3,590 12,538
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 83,195
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years - 83,195
Secured bank loans - 83,195
The bank loans and mortgages are secured on the company's investment properties.
8 Revaluation reserve 2024 2023
£ £
At 1 May 2023 32,971 99,277
Reversal of revaluation of investment properties 10,029 (66,306)
At 30 April 2024 43,000 32,971
9 Other information
R.G.L Construction Developments Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
33 Woodland Road
Tylorstown
Ferndale
Rhondda Cynon Taff
CF43 3ND
10 Controlling party
The company is controlled by the directors who each own 50% of the issued share capital.
11 Presentation currency
The financial statements are presented in Sterling and rounded to the nearest £1.
12 Transactions with directors
At the year end the directors loan account was overdrawn by £12,000 (2023: £nil).
This balance has since been cleared by way of a dividend credited to the directors
loan account.
R.G.L Construction Developments Limited 03718013 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts April 2024 G.J. Lewis No description of principal activity 03718013 2022-05-01 2023-04-30 03718013 core:RevaluationReserve core:LandBuildings 2022-05-01 2023-04-30 03718013 core:WithinOneYear 2023-04-30 03718013 core:AfterOneYear 2023-04-30 03718013 core:ShareCapital 2023-04-30 03718013 core:OtherReservesSubtotal 2023-04-30 03718013 core:RetainedEarningsAccumulatedLosses 2023-04-30 03718013 core:RevaluationReserve 2022-04-30 03718013 2023-05-01 2024-04-30 03718013 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03718013 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03718013 bus:Director40 2023-05-01 2024-04-30 03718013 1 2023-05-01 2024-04-30 03718013 core:LandBuildings 2023-05-01 2024-04-30 03718013 core:PlantMachinery 2023-05-01 2024-04-30 03718013 core:RevaluationReserve core:LandBuildings 2023-05-01 2024-04-30 03718013 countries:England 2023-05-01 2024-04-30 03718013 bus:FRS102 2023-05-01 2024-04-30 03718013 bus:FilletedAccounts 2023-05-01 2024-04-30 03718013 2024-04-30 03718013 core:WithinOneYear 2024-04-30 03718013 core:AfterOneYear 2024-04-30 03718013 core:ShareCapital 2024-04-30 03718013 core:OtherReservesSubtotal 2024-04-30 03718013 core:RetainedEarningsAccumulatedLosses 2024-04-30 03718013 core:LandBuildings 2024-04-30 03718013 core:PlantMachinery 2024-04-30 03718013 core:RevaluationReserve 2024-04-30 03718013 2023-04-30 03718013 core:LandBuildings 2023-04-30 03718013 core:PlantMachinery 2023-04-30 03718013 core:RevaluationReserve 2023-04-30 iso4217:GBP xbrli:pure