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REGISTERED NUMBER: 13184810 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

RLK ESTATES LIMITED

RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Investment property 4 1,375,875 1,120,068

CURRENT ASSETS
Cash at bank 8,938 6,722

CREDITORS
Amounts falling due within one year 5 (747,109 ) (462,414 )
NET CURRENT LIABILITIES (738,171 ) (455,692 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

637,704

664,376

CREDITORS
Amounts falling due after more than one year 6 (692,897 ) (692,897 )
NET LIABILITIES (55,193 ) (28,521 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (55,195 ) (28,523 )
SHAREHOLDERS' FUNDS (55,193 ) (28,521 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Balance Sheet - continued
28 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




Dr R Khafaf - Director



Mrs L Khafaf - Director


RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

RLK Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13184810

Registered office: 77 The Ridings
London
W5 3DP

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Revenue represents the value of rental income chargeable in respect of the company's investment property.
Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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 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.


RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued
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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,120,068
Additions 255,807
At 28 February 2024 1,375,875
NET BOOK VALUE
At 28 February 2024 1,375,875
At 28 February 2023 1,120,068

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 28 February 2024 by the Directors. The valuation was made on an open market value basis by reference to rental yields and market conditions.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Other creditors 747,109 462,414

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.24 28.2.23
£    £   
Bank loans 692,897 692,897

RLK ESTATES LIMITED (REGISTERED NUMBER: 13184810)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

28.2.24 28.2.23
£    £   
Bank loans 692,897 692,897

The bank loan is secured by fixed charge against all property undertaking of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
2 Ordinary £1 2 2

9. RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £744,980 (2023: £456,560) owed to a company in which the directors have an interest.

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors by virtue of holding its entire issued ordinary share capital.