Acorah Software Products - Accounts Production 16.0.110 false true true false 18 February 2023 29 February 2024 29 February 2024 14672301 Mr Chintan Savjani Mrs Madhushree Agarwal iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14672301 2023-02-17 14672301 2024-02-29 14672301 2023-02-18 2024-02-29 14672301 frs-core:CurrentFinancialInstruments 2024-02-29 14672301 frs-core:Non-currentFinancialInstruments 2024-02-29 14672301 frs-core:ShareCapital 2024-02-29 14672301 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 14672301 frs-bus:PrivateLimitedCompanyLtd 2023-02-18 2024-02-29 14672301 frs-bus:FilletedAccounts 2023-02-18 2024-02-29 14672301 frs-bus:SmallEntities 2023-02-18 2024-02-29 14672301 frs-bus:AuditExempt-NoAccountantsReport 2023-02-18 2024-02-29 14672301 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-18 2024-02-29 14672301 frs-bus:Director1 2023-02-18 2024-02-29 14672301 frs-bus:Director2 2023-02-18 2024-02-29 14672301 frs-countries:EnglandWales 2023-02-18 2024-02-29
Registered number: 14672301
Rethinking Property Limited
Unaudited Financial Statements
For the Period 18 February 2023 to 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14672301
29 February 2024
Notes £ £
FIXED ASSETS
Investment Properties 4 350,000
350,000
CURRENT ASSETS
Debtors 5 920
Cash at bank and in hand 1,165
2,085
Creditors: Amounts Falling Due Within One Year 6 (108,887 )
NET CURRENT ASSETS (LIABILITIES) (106,802 )
TOTAL ASSETS LESS CURRENT LIABILITIES 243,198
Creditors: Amounts Falling Due After More Than One Year 7 (267,785 )
NET LIABILITIES (24,587 )
CAPITAL AND RESERVES
Called up share capital 9 100
Profit and Loss Account (24,687 )
SHAREHOLDERS' FUNDS (24,587)
Page 1
Page 2
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Chintan Savjani
Director
15/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rethinking Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14672301 . The registered office is 1 Derwent Business Centre, Clarke Street, Derby, England, DE1 2BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director's who have undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Investment Property
29 February 2024
£
Fair Value
As at 18 February 2023 -
Additions 367,764
Revaluations (17,764)
As at 29 February 2024 350,000
5. Debtors
29 February 2024
£
Due within one year
Prepayments and accrued income 820
Other debtors 100
920
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
29 February 2024
£
Other creditors 51
Directors' loan accounts 108,836
108,887
7. Creditors: Amounts Falling Due After More Than One Year
29 February 2024
£
Bank loans 267,785
8. Secured Creditors
Of the creditors falling due after more than one year the following amount is secured by a fixed charge over the investment property. The mortgage is interest only with a term of 25 years.
29 February 2024
£
Bank loans and overdrafts 267,785
9. Share Capital
29 February 2024
£
Allotted, Called up and fully paid 100
Page 4