Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10651073 2023-04-01 2024-03-31 10651073 2022-04-01 2023-03-31 10651073 2024-03-31 10651073 2023-03-31 10651073 c:Director1 2023-04-01 2024-03-31 10651073 d:FreeholdInvestmentProperty 2024-03-31 10651073 d:FreeholdInvestmentProperty 2023-03-31 10651073 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 10651073 d:CurrentFinancialInstruments 2024-03-31 10651073 d:CurrentFinancialInstruments 2023-03-31 10651073 d:Non-currentFinancialInstruments 2024-03-31 10651073 d:Non-currentFinancialInstruments 2023-03-31 10651073 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10651073 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10651073 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10651073 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10651073 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 10651073 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10651073 d:ShareCapital 2024-03-31 10651073 d:ShareCapital 2023-03-31 10651073 d:SharePremium 2024-03-31 10651073 d:SharePremium 2023-03-31 10651073 d:InvestmentPropertiesRevaluationReserve 2023-04-01 2024-03-31 10651073 d:InvestmentPropertiesRevaluationReserve 2024-03-31 10651073 d:InvestmentPropertiesRevaluationReserve 2023-03-31 10651073 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10651073 d:RetainedEarningsAccumulatedLosses 2024-03-31 10651073 d:RetainedEarningsAccumulatedLosses 2023-03-31 10651073 c:FRS102 2023-04-01 2024-03-31 10651073 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10651073 c:FullAccounts 2023-04-01 2024-03-31 10651073 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10651073 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10651073 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10651073 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 10651073









RANELAGH PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RANELAGH PROPERTIES LTD
REGISTERED NUMBER: 10651073

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,630,000
1,530,000

  
1,630,000
1,530,000

Current assets
  

Debtors: amounts falling due within one year
 5 
2,713
-

Cash at bank and in hand
 6 
706
1,843

  
3,419
1,843

Creditors: amounts falling due within one year
 7 
(246,441)
(217,912)

Net current liabilities
  
 
 
(243,022)
 
 
(216,069)

Total assets less current liabilities
  
1,386,978
1,313,931

Creditors: amounts falling due after more than one year
 8 
(770,765)
(768,890)

Provisions for liabilities
  

Deferred tax
 10 
(186,250)
(161,250)

  
 
 
(186,250)
 
 
(161,250)

Net assets
  
429,963
383,791


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Share premium account
 12 
110,138
110,138

Investment property reserve
 12 
558,750
483,750

Profit and loss account
 12 
(248,925)
(220,097)

  
429,963
383,791


Page 1

 
RANELAGH PROPERTIES LTD
REGISTERED NUMBER: 10651073
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 November 2024.




T G Drummond
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ranelagh Properties Limited is a private company, limited by shares, domiciled in England and Wales, registration number is 10651073. The registered office is 71 Ramsgate Road, Margate, Kent, United Kingdom, CT9 5SA. The principal activity of the company is property investment. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.



The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rent receivable and sale of properties.

 
2.3

Finance cost

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors 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. Changes in fair value are recognised in the Profit and Loss Account.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term 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.

Page 4

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 



If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted
Page 5

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

where the effect of discounting is immaterial.

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

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

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees



The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 6

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,530,000


Surplus on revaluation
100,000



At 31 March 2024
1,630,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 April 2023
483,750
435,000

Net surplus/(deficit) in movement properties
75,000
48,750

At 31 March 2024
558,750
483,750





5.


Debtors

2024
2023
£
£


Trade debtors
275
-

Other debtors
2,016
-

Prepayments and accrued income
422
-

2,713
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
706
1,843

Less: bank overdrafts
(1,986)
(984)

(1,280)
859


Page 7

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,986
984

Trade creditors
232
2,236

Other taxation and social security
13,891
16,270

Other creditors
226,109
195,640

Accruals and deferred income
4,223
2,782

246,441
217,912



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
770,765
768,890

770,765
768,890



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
770,765
768,890

770,765
768,890

770,765
768,890


The above loans are secured against the properties to which they relate.

Page 8

 
RANELAGH PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
(186,250)



At end of year
(186,250)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movements
(186,250)
(161,250)

(186,250)
(161,250)


11.

Related party transactions

At the year end the following amounts were due from/(to) the related parties:

2024
2023
2023
2023
        £
        £
        £
        £
Other related parties

(220,707)

(186,156)

(186,156)
 
(161,996)
 

(220,707)

(186,156)

(186,156)
 
(161,996)
 


12.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve represents cumulative effects of fair value adjustments on investment properties net of deferred tax and other adjustments.

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.


13.


Controlling party

The ultimate controlling party is G Drummond by virtue of her majority shareholding.

 
Page 9