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REGISTERED NUMBER: 04655187 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

REMERCORP PROPERTIES LIMITED

REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


REMERCORP PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Mr L Crick (Jnr)
Mrs J S A Crick
Mr L C Crick
Miss L J Crick



REGISTERED OFFICE: c/o Michael Heaven & Associates Limited
47 Calthorpe Road
Edgbaston
BIRMINGHAM
West Midlands
B15 1TH



REGISTERED NUMBER: 04655187 (England and Wales)



ACCOUNTANTS: Michael Heaven & Associates Limited
Chartered Certified Accountants
47 Calthorpe Road
Edgbaston
BIRMINGHAM
B15 1TH



BANKERS: Lloyds Bank PLC
114-116 Colmore Row
Birmingham
B3 3BD



INCORPORATED: 3rd February 2003

REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 990,000 825,000

CURRENT ASSETS
Debtors 1,996 569
Cash at bank and in hand 129,444 76,413
131,440 76,982
CREDITORS
Amounts falling due within one year 428,628 425,604
NET CURRENT LIABILITIES (297,188 ) (348,622 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

692,812

476,378

PROVISIONS FOR LIABILITIES 5 69,582 30,031
NET ASSETS 623,230 446,347

CAPITAL AND RESERVES
Called up share capital 6 200 200
Undistributable profit and
loss account 261,505 136,056
Retained earnings 361,525 310,091
SHAREHOLDERS' FUNDS 623,230 446,347

REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 23rd October 2024 and were signed on its behalf by:





Mr L Crick (Jnr) - Director


REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Remercorp 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 represents net rents received from residential property letting.

Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

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

REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 825,000
Revaluations 165,000
At 30th April 2024 990,000
NET BOOK VALUE
At 30th April 2024 990,000
At 30th April 2023 825,000

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2014 17,176
Valuation in 2015 68,136
Valuation in 2017 80,775
Valuation in 2024 165,000
Cost 658,913
990,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 658,913 658,913

Two investment properties were valued on an open market basis on 3rd July 2015 by John Truslove Surveyors .

In the directors' opinion the current carrying value of investment properties is reflective of the current market values.

5. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 69,582 30,031

REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


5. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st May 2023 30,031
Movement 39,551
Balance at 30th April 2024 69,582

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
126 Ordinary A £1 126 126
26 Ordinary B £1 26 26
24 Ordinary C £1 24 24
24 Ordinary D £1 24 24
200 200

7. RELATED PARTY DISCLOSURES

As at the year end there were balances of £407,532 due to companies with mutual directors.This loan is interest free and repayable upon demand.