Company registration number 08732991 (England and Wales)
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
30 April 2024
31 October 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,740
12,820
Current assets
Stocks
-
428,074
Debtors
2,542
55,606
Cash at bank and in hand
16,137
41,158
18,679
524,838
Creditors: amounts falling due within one year
(63,432)
(154,205)
Net current (liabilities)/assets
(44,753)
370,633
Total assets less current liabilities
(35,013)
383,453
Creditors: amounts falling due after more than one year
(12,646)
(236,580)
Provisions for liabilities
(1,851)
(2,436)
Net (liabilities)/assets
(49,510)
144,437
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
(49,520)
144,427
Total equity
(49,510)
144,437
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr DJ Longrigg
Mrs LJ Longrigg
Director
Director
Company registration number 08732991 (England and Wales)
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
RM Property Developments (Rugby) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Chestnut Field House, Chestnut Field, Rugby, Warwickshire, United Kingdom, CV21 2PD.
1.1
Reporting period
The company’s reporting period has been extended to 18 months, ending on 30th April 2024, from the usual 12-month period. This extension has been made because the company is in the process of ceasing trading, and the extended period allows for a more comprehensive accounting of its operations and final settlement of its obligations.
Due to the extension of the accounting period, the comparative amounts presented in these financial statements, which cover the 18-month period ended 30th April 2024, may not be entirely comparable with the previous 12-month period. Users of these financial statements should be aware that the figures for the prior period are based on a different reporting timeframe, which may affect the comparability and analysis of the financial performance and position of the company.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance
Computers
15% Reducing balance
Motor vehicles
20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2022
Number
Number
Total
2
2
RM PROPERTY DEVELOPMENTS (RUGBY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
27,315
Additions
834
At 30 April 2024
28,149
Depreciation and impairment
At 1 November 2022
14,494
Depreciation charged in the Period
3,915
At 30 April 2024
18,409
Carrying amount
At 30 April 2024
9,740
At 31 October 2022
12,820
5
Related party disclosures
The company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 (FRS 102), applicable in the United Kingdom and the Republic of Ireland, which allows it not to disclose related party transactions with wholly owned subsidiaries within the same group.