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REGISTERED NUMBER: 00657779 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P P Y Bogue
Ms E A M Austin
Ms J Winby





SECRETARY: P P Y Bogue





REGISTERED OFFICE: Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN





REGISTERED NUMBER: 00657779 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,231 3,829
Investment property 5 7,445,000 9,415,000
7,446,231 9,418,829

CURRENT ASSETS
Debtors 6 88,657 97,118
Cash at bank 643,271 618,906
731,928 716,024
CREDITORS
Amounts falling due within one year 7 306,530 363,154
NET CURRENT ASSETS 425,398 352,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,871,629

9,771,699

PROVISIONS FOR LIABILITIES 590,386 1,025,627
NET ASSETS 7,281,243 8,746,072

CAPITAL AND RESERVES
Called up share capital 760 760
Other reserves 138,999 138,999
Fair value reserve 2,664,239 4,742,392
Retained earnings 4,477,245 3,863,921
SHAREHOLDERS' FUNDS 7,281,243 8,746,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





Ms E A M Austin - Director


RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Residential And Commercial Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is the amount of rent receivable from the company's Freehold Investment Properties and is net of value added tax.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Improvements to property - 10% on cost
Computer equipment - 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, of it there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Financial instruments
The company has the following basic financial instruments:

- Short term debtors and creditors
- Bank loans

Short term debtors and creditors are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Bank loans 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.


RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 6,561 3,785 541 10,887
Disposals (624 ) - - (624 )
At 31 March 2024 5,937 3,785 541 10,263
DEPRECIATION
At 1 April 2023 4,743 1,887 428 7,058
Charge for year 1,021 1,320 28 2,369
Eliminated on disposal (395 ) - - (395 )
At 31 March 2024 5,369 3,207 456 9,032
NET BOOK VALUE
At 31 March 2024 568 578 85 1,231
At 31 March 2023 1,818 1,898 113 3,829

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,415,000
Additions 89,198
Revaluations (2,059,198 )
At 31 March 2024 7,445,000
NET BOOK VALUE
At 31 March 2024 7,445,000
At 31 March 2023 9,415,000

The majority of Investment Property additions relate to the London redevelopment

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2005 1,811,433
Valuation in 2013 (58,423 )
Valuation in 2017 824,743
Valuation in 2018 922,315
Valuation in 2021 741,427
Valuation in 2022 (37,300 )
Valuation in 2023 1,109,466
Valuation in 2024 (2,059,198 )
Cost 4,190,537
7,445,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 4,190,537 3,915,805

Investment property was valued on a fair value basis on 31 March 2024 by Carter Jonas .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,981 77,828
Other debtors 20,676 19,290
88,657 97,118

RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED (REGISTERED NUMBER: 00657779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,061 101,191
Taxation and social security 95,276 70,544
Other creditors 206,193 191,419
306,530 363,154

8. RELATED PARTY DISCLOSURES

P P Y Bogue
Director of the Company
Amounts due to the related party at the balance sheet date amounted to £184 (2023: £114)

Miss C & C Bogue
Daughters of the director, P Bogue, and shareholder AMC Bogue

Amounts owed by related party at the balance sheet date amounted to £219 (2023: £250)


Ms EAM Austin (Director), Ms JR Winby (Director), Ms GL Mayle and Ms AMC Bogue
Shareholders in the Company

The above shareholders have an interest in two properties which are managed, but not owned, by the company. During the year the transactions below were conducted by Residential & Commercial Properties Ltd on the owners behalf:

£
Amount due to owners as at 31.03.236,528

Rents received from property16,000
Amounts paid to owners(16,000)
Amounts expended on property
Council tax260
Renovation expenses
Renovation expenses reimbursed
Insurance received from property849
Amount due to owners as at 31.03.247,637



All amounts due to the Company are interest free and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RESIDENTIAL AND COMMERCIAL PROPERTIES
LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Residential And Commercial Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Residential And Commercial Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Residential And Commercial Properties Limited and state those matters that we have agreed to state to the Board of Directors of Residential And Commercial Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Residential And Commercial Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Residential And Commercial Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Residential And Commercial Properties Limited. You consider that Residential And Commercial Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Residential And Commercial Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


25 October 2024