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REGISTERED NUMBER: 09954067 (England and Wales)










RISE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RISE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Ms S K Bath





REGISTERED OFFICE: Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB





REGISTERED NUMBER: 09954067 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,701 2,001
Investments 5 50 50
Investment property 6 994,295 994,295
996,046 996,346

CURRENT ASSETS
Debtors 7 2,517 3,101
Cash at bank 7,825 52,082
10,342 55,183
CREDITORS
Amounts falling due within one year 8 (462,853 ) (522,773 )
NET CURRENT LIABILITIES (452,511 ) (467,590 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

543,535

528,756

CREDITORS
Amounts falling due after more than one
year

9

(283,224

)

(312,131

)
NET ASSETS 260,311 216,625

CAPITAL AND RESERVES
Called up share capital 11 133 133
Retained earnings 260,178 216,492
SHAREHOLDERS' FUNDS 260,311 216,625

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

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

The director acknowledges her 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.

RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

BALANCE SHEET - continued
31 JANUARY 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 director and authorised for issue on 30 September 2024 and were signed by:





Ms S K Bath - Director


RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

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

1. STATUTORY INFORMATION

Rise 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the year end the company balance sheet is showing net current liabilities position of £452,511 (2023: £467,590) and net assets position of £260,311 (2023: £216,625). The company continues to trade as a
going concern and as such the accounts have been prepared on this basis.

Turnover
Turnover represents rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 3,300
DEPRECIATION
At 1 February 2023 1,299
Charge for year 300
At 31 January 2024 1,599
NET BOOK VALUE
At 31 January 2024 1,701
At 31 January 2023 2,001

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 February 2023
and 31 January 2024 50
NET BOOK VALUE
At 31 January 2024 50
At 31 January 2023 50

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 994,295
NET BOOK VALUE
At 31 January 2024 994,295
At 31 January 2023 994,295

The director believes there is no change to the valuation of the investment properties and as such the valuation represents fair value which is based on market value of similar properties in the area where the properties are situated.

RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 981 1,565
Other debtors 1,536 1,536
2,517 3,101

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 39,936 39,936
Trade creditors 9,456 14,575
Taxation and social security 16,849 29,006
Other creditors 396,612 439,256
462,853 522,773

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 133,224 162,131
Other creditors 150,000 150,000
283,224 312,131

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 173,160 202,067

Bank loan is secured against the investment property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 133 133

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £237,234 (2023: £228,883) owed to the director. The amount is unsecured and interest free with no set terms for repayment.

13. RELATED PARTY DISCLOSURES

Included within other creditors is a loan of £98,561 (2023: £145,561) from a company under common control. The loan is unsecured, interest free and repayable on demand.

RISE PROPERTIES LIMITED (REGISTERED NUMBER: 09954067)

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

14. ULTIMATE CONTROLLING PARTY

The controlling party is Ms S K Bath.