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COMPANY REGISTRATION NUMBER: 13620607
RNMI Investments Limited
Filleted Unaudited Financial Statements
31 December 2023
RNMI Investments Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
RNMI Investments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
3,227,663
2,494,122
Current assets
Debtors
6
10,000
Creditors: amounts falling due within one year
7
3,303,377
2,528,790
------------
------------
Net current liabilities
3,293,377
2,528,790
------------
------------
Total assets less current liabilities
( 65,714)
( 34,668)
--------
--------
Net liabilities
( 65,714)
( 34,668)
--------
--------
Capital and reserves
Called up share capital
101
101
Profit and loss account
( 65,815)
( 34,769)
--------
--------
Shareholders deficit
( 65,714)
( 34,668)
--------
--------
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 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 October 2024 , and are signed on behalf of the board by:
Ms N C Doumar
Director
Company registration number: 13620607
RNMI Investments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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.
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
Tangible assets
All fixed assets are initially recorded at cost. The company considers its property to be investment property and is therefore carried at fair value in the Financial Statements.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction, it is measured at present value.
4. Employee numbers
The number of employees, excluding the directors, was Nil (2022: Nil).
5. Tangible assets
Freehold property
£
Cost
At 1 January 2023
2,494,122
Additions
733,541
------------
At 31 December 2023
3,227,663
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
3,227,663
------------
At 31 December 2022
2,494,122
------------
Freehold property represents investment property and are held at fair value. The Director believes the fair value was not materially different at the period end.
6. Debtors
2023
2022
£
£
Other debtors
10,000
--------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
3,303,377
2,528,790
------------
------------
8. Related party transactions
At the balance sheet date, the company owed the Director £852,523 (2022: £77,936). No interest was charged on this loan. At the balance sheet date, the company owed the Shareholders £2,447,704 (2022: £2,447,704). No interest was charged on this loan.