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REGISTERED NUMBER: 11821802 (England and Wales)











RS Commercial Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024






RS Commercial Ltd (Registered number: 11821802)






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


RS Commercial Ltd

Company Information
for the Year Ended 29 February 2024







Director: V Sharma





Registered office: Unit 3b Wentworth House
Maple Court
Tankersley
Barnsley
South Yorkshire
S75 3DP





Registered number: 11821802 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

RS Commercial Ltd (Registered number: 11821802)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
Fixed assets
Tangible assets 4 15,786 19,734
Investment property 5 5,283,509 5,212,108
5,299,295 5,231,842

Current assets
Debtors 6 119,537 203,525
Cash at bank 394,490 309,647
514,027 513,172
Creditors
Amounts falling due within one year 7 (289,537 ) (237,431 )
Net current assets 224,490 275,741
Total assets less current liabilities 5,523,785 5,507,583

Creditors
Amounts falling due after more than one
year

8

(3,847,469

)

(3,883,330

)

Provisions for liabilities 10 (315,577 ) (315,577 )
Net assets 1,360,739 1,308,676

RS Commercial Ltd (Registered number: 11821802)

Balance Sheet - continued
29 February 2024

29.2.24 28.2.23
Notes £    £   
Capital and reserves
Called up share capital 11 100 100
Fair value reserve 12 1,345,357 1,345,357
Retained earnings 15,282 (36,781 )
Shareholders' funds 1,360,739 1,308,676

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.

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 director and authorised for issue on 15 April 2024 and were signed by:





V Sharma - Director


RS Commercial Ltd (Registered number: 11821802)

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

1. Statutory information

RS Commercial 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 as modified by the revaluation of certain assets.

Despite this being a challenging year due to Covid-19 the company still has the support of the director. In the director's opinion the business is not affected and continues to be a going concern.

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.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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.


RS Commercial Ltd (Registered number: 11821802)

Notes to the Financial Statements - continued
for the Year Ended 29 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 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 March 2023
and 29 February 2024 44,285
Depreciation
At 1 March 2023 24,551
Charge for year 3,948
At 29 February 2024 28,499
Net book value
At 29 February 2024 15,786
At 28 February 2023 19,734

RS Commercial Ltd (Registered number: 11821802)

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

5. Investment property
Total
£   
Fair value
At 1 March 2023 5,212,108
Additions 71,401
At 29 February 2024 5,283,509
Net book value
At 29 February 2024 5,283,509
At 28 February 2023 5,212,108

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 5,283,509

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 3,622,575 3,551,574

Investment property was valued on an open market basis on 29 February 2024 by the director .

6. Debtors: amounts falling due within one year
29.2.24 28.2.23
£    £   
Trade debtors 117,849 105,099
Other debtors 1,688 98,426
119,537 203,525

7. Creditors: amounts falling due within one year
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 123,686 123,686
VAT 38,647 -
Directors' current accounts 8 8
Accruals and deferred income 127,196 113,737
289,537 237,431

RS Commercial Ltd (Registered number: 11821802)

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 - 1-2 years 123,686 123,686
Bank loans - 2-5 years 1,998,020 1,989,249
Bank loans repayable after more than
five years

550,000

250,000
RS Group investments Ltd loan 866,368 1,211,000
Rent deposit 309,395 309,395
3,847,469 3,883,330

Amounts falling due in more than five years:

Repayable by instalments
Bank loans repayable after more than
five years

550,000

250,000

9. Secured debts

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank loans 2,795,392 2,486,621

10. Provisions for liabilities
29.2.24 28.2.23
£    £   
Deferred tax 315,577 315,577

Deferred
tax
£   
Balance at 1 March 2023 315,577
Balance at 29 February 2024 315,577

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

RS Commercial Ltd (Registered number: 11821802)

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

12. Reserves
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 1,345,357