Company registration number 12712033 (England and Wales)
RJL ESTATES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
RJL ESTATES LTD
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
RJL ESTATES LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF RJL ESTATES LTD
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RJL Estates Ltd for the Period ended 31 January 2024 which comprise, the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of RJL Estates Ltd, as a body, in accordance with the terms of our engagement letter dated 1 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of RJL Estates Ltd and state those matters that we have agreed to state to the board of directors of RJL Estates Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RJL Estates Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that RJL Estates Ltd 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 RJL Estates Ltd. You consider that RJL Estates Ltd is exempt from the statutory audit requirement for the Period.
We have not been instructed to carry out an audit or a review of the financial statements of RJL Estates Ltd. 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.
Jerroms GCN Limited
16 October 2024
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
RJL ESTATES LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
31 January 2024
31 July 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
319,528
419,997
Current assets
Stocks
4
2,839,093
2,020,840
Debtors
5
2,504
Cash at bank and in hand
6,126
76,367
2,847,723
2,097,207
Creditors: amounts falling due within one year
6
(3,290,861)
(2,519,941)
Net current liabilities
(443,138)
(422,734)
Net liabilities
(123,610)
(2,737)
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
(123,810)
(2,937)
Total equity
(123,610)
(2,737)
The notes on pages 4 to 7 form part of these financial statements.
RJL ESTATES LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial Period ended 31 January 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.
The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
Mrs H Willitts
Director
Company registration number 12712033 (England and Wales)
RJL ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information
RJL Estates Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Ripple Hall, Station Road, Ripple, Tewkesbury, GL20 6EY.
1.1
Reporting period
The companies accounting reference has been extended by 6 months to bring it in line with related parties. As a result the comparative amounts in the financial statements are not entirely comparable.
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
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
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.
RJL ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.5
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.
The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is charged so as to allocate the cost of the assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Fixtures, fittings and equipment - 15% reducing balance
No depreciation has been charged in the year of acquisition.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if 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.
1.6
Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.7
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
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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
RJL ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2022
Number
Number
Total
6
5
3
Tangible fixed assets
Plant and equipment
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
419,997
419,997
Additions
1,169
3,361
4,530
At 31 January 2024
1,169
3,361
419,997
424,527
Depreciation and impairment
At 1 August 2022
Depreciation charged in the Period
104,999
104,999
At 31 January 2024
104,999
104,999
Carrying amount
At 31 January 2024
1,169
3,361
314,998
319,528
At 31 July 2022
419,997
419,997
4
Stocks
2024
2022
£
£
Stocks
2,839,093
2,020,840
5
Debtors
2024
2022
Amounts falling due within one year:
£
£
Other debtors
2,504
RJL ESTATES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2022
£
£
Trade creditors
1,451
Amounts owed to undertakings in which the company has a participating interest
205
Other creditors
3,286,088
2,518,537
Accruals and deferred income
3,322
1,199
3,290,861
2,519,941
Amounts due to participating interests do not bear interest, are unsecured and are repayable on demand.
7
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
80
80
80
80
Ordinary B of £1 each
40
40
40
40
Ordinary C of £1 each
40
40
40
40
Ordinary D of £1 each
40
40
40
40
200
200
200
200