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REGISTERED NUMBER: 12474734 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

RGC Property Ltd

RGC Property Ltd (Registered number: 12474734)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RGC Property Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: C A Cannon





REGISTERED OFFICE: 125 Holmsley Lane
Woodlesford
Leeds
LS26 8SB





REGISTERED NUMBER: 12474734 (England and Wales)





ACCOUNTANTS: Hope Agar
Chartered Accountants
24a Marsh Street
Rothwell
Leeds
LS26 0BB

RGC Property Ltd (Registered number: 12474734)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 54,000 28
Investment property 5 268,266 268,266
322,266 268,294

CURRENT ASSETS
Debtors 6 385 385
Cash at bank 2,855 16,843
3,240 17,228
CREDITORS
Amounts falling due within one year 7 13,525 9,739
NET CURRENT (LIABILITIES)/ASSETS (10,285 ) 7,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

311,981

275,783

CREDITORS
Amounts falling due after more than one
year

8

313,511

276,763
NET LIABILITIES (1,530 ) (980 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (1,630 ) (1,080 )
(1,530 ) (980 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RGC Property Ltd (Registered number: 12474734)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 November 2024 and were signed by:





C A Cannon - Director


RGC Property Ltd (Registered number: 12474734)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

RGC Property Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on reducing balance and Straight line over 3 years

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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

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

RGC Property Ltd (Registered number: 12474734)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 199
Additions 54,000
At 29 February 2024 54,199
DEPRECIATION
At 1 March 2023 171
Charge for year 28
At 29 February 2024 199
NET BOOK VALUE
At 29 February 2024 54,000
At 28 February 2023 28

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 281,833
DEPRECIATION
At 1 March 2023
and 29 February 2024 13,567
NET BOOK VALUE
At 29 February 2024 268,266
At 28 February 2023 268,266

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 385 385

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 8,291 8,291
Hire purchase contracts 3,643 -
Taxation and social security - 1,106
Other creditors 1,591 342
13,525 9,739

RGC Property Ltd (Registered number: 12474734)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 199,314 199,314
Hire purchase contracts 25,248 -
Amounts owed to associates 88,314 76,814
Other creditors 635 635
313,511 276,763

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 166,150 166,150
Hire purchase 4,642 -
170,792 166,150

9. ULTIMATE CONTROLLING PARTY

The controlling party is C A Cannon.