REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
REMERCORP PROPERTIES LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
47 Calthorpe Road |
Edgbaston |
BIRMINGHAM |
B15 1TH |
BANKERS: |
114-116 Colmore Row |
Birmingham |
B3 3BD |
INCORPORATED: |
REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187) |
ABRIDGED BALANCE SHEET |
30TH APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 5 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Undistributable profit and |
loss account |
Retained earnings |
SHAREHOLDERS' FUNDS |
REMERCORP PROPERTIES LIMITED (REGISTERED NUMBER: 04655187) |
ABRIDGED BALANCE SHEET - continued |
30TH APRIL 2024 |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Revaluations | 165,000 |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
Movement | 39,551 |
Balance at 30th April 2024 |
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: | £ | £ |
Ordinary A | £1 | 126 | 126 |
Ordinary B | £1 | 26 | 26 |
Ordinary C | £1 | 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. |