Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31160000296494falsetrue2023-04-01falseNo description of principal activity32trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02307776 2023-04-01 2024-03-31 02307776 2022-04-01 2023-03-31 02307776 2024-03-31 02307776 2023-03-31 02307776 2022-04-01 02307776 2 2023-04-01 2024-03-31 02307776 6 2023-04-01 2024-03-31 02307776 6 2022-04-01 2023-03-31 02307776 d:Director1 2023-04-01 2024-03-31 02307776 e:FreeholdInvestmentProperty 2023-04-01 2024-03-31 02307776 e:FreeholdInvestmentProperty 2024-03-31 02307776 e:FreeholdInvestmentProperty 2023-03-31 02307776 e:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 02307776 e:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 02307776 e:LeaseholdInvestmentProperty 2024-03-31 02307776 e:LeaseholdInvestmentProperty 2023-03-31 02307776 e:LeaseholdInvestmentProperty 2 2023-04-01 2024-03-31 02307776 e:CurrentFinancialInstruments 2024-03-31 02307776 e:CurrentFinancialInstruments 2023-03-31 02307776 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 02307776 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 02307776 e:ShareCapital 2023-04-01 2024-03-31 02307776 e:ShareCapital 2024-03-31 02307776 e:ShareCapital 2022-04-01 2023-03-31 02307776 e:ShareCapital 2023-03-31 02307776 e:ShareCapital 2022-04-01 02307776 e:RevaluationReserve 2023-04-01 2024-03-31 02307776 e:RevaluationReserve 2024-03-31 02307776 e:RevaluationReserve 6 2023-04-01 2024-03-31 02307776 e:RevaluationReserve 2022-04-01 2023-03-31 02307776 e:RevaluationReserve 2023-03-31 02307776 e:RevaluationReserve 2022-04-01 02307776 e:RevaluationReserve 6 2022-04-01 2023-03-31 02307776 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 02307776 e:RetainedEarningsAccumulatedLosses 2024-03-31 02307776 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 02307776 e:RetainedEarningsAccumulatedLosses 2023-03-31 02307776 e:RetainedEarningsAccumulatedLosses 2022-04-01 02307776 d:FRS102 2023-04-01 2024-03-31 02307776 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02307776 d:AbridgedAccounts 2023-04-01 2024-03-31 02307776 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02307776 e:OtherDeferredTax 2024-03-31 02307776 e:OtherDeferredTax 2023-03-31 02307776 5 2023-04-01 2024-03-31 02307776 f:PoundSterling 2023-04-01 2024-03-31 02307776 e:RetainedEarningsAccumulatedLosses 6 2023-04-01 2024-03-31 02307776 e:RetainedEarningsAccumulatedLosses 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 02307776









KENNETH RICE & SONS RENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KENNETH RICE & SONS RENTS LIMITED
REGISTERED NUMBER: 02307776

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
80,000
148,247

  
80,000
148,247

Current assets
  

Debtors: amounts falling due within one year
 5 
438
303

Cash at bank and in hand
 6 
657,584
419,570

  
658,022
419,873

Creditors: amounts falling due within one year
 7 
(43,817)
(35,721)

Net current assets
  
 
 
614,205
 
 
384,152

Total assets less current liabilities
  
694,205
532,399

Provisions for liabilities
  

Deferred tax
 8 
(12,580)
-

  
 
 
(12,580)
 
 
-

Net assets
  
681,625
532,399


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
74,431
-

Profit and loss account
  
607,094
532,299

  
681,625
532,399


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 statement of income and retained earnings 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 3 June 2024.
Page 1

 
KENNETH RICE & SONS RENTS LIMITED
REGISTERED NUMBER: 02307776
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024



P J Rice
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
KENNETH RICE & SONS RENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Fair value reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
100
148,000
391,105
539,205


Comprehensive income for the year

Profit for the year
-
-
201,194
201,194

Deficit on revaluation of leasehold property
-
(148,000)
-
(148,000)
Total comprehensive income for the year
-
(148,000)
201,194
53,194


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(60,000)
(60,000)


Total transactions with owners
-
-
(60,000)
(60,000)



At 1 April 2023
100
-
532,299
532,399


Comprehensive income for the year

Profit for the year
-
-
74,795
74,795

Surplus on revaluation of freehold property
-
74,431
-
74,431
Total comprehensive income for the year
-
74,431
74,795
149,226


Total transactions with owners
-
-
-
-


At 31 March 2024
100
74,431
607,094
681,625


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
KENNETH RICE & SONS RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Kenneth Rice and Sons Rents Limited 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

 
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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 
2.3

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.

Page 4

 
KENNETH RICE & SONS RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revaluation of investment property

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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 profit or loss.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
5,963
5,253

5,963
5,253


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Administration
3
2

Page 5

 
KENNETH RICE & SONS RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 April 2023
148,247
-
148,247


Additions at cost
144,485
-
144,485


Disposals
(287,163)
-
(287,163)


Surplus on revaluation
74,431
-
74,431



At 31 March 2024
80,000
-
80,000


Comprising


The 2024 valuations were made by  LP and M Chartered Surveyors.  All properties are included at current values, on an open market value for existing use basis.



At 31 March 2024





5.


Debtors

2024
2023
£
£


Prepayments and accrued income
438
303

438
303



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
657,584
419,570

657,584
419,570


Page 6

 
KENNETH RICE & SONS RENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
27,417
16,338

Accruals and deferred income
16,400
19,383

43,817
35,721



8.


Deferred taxation




2024


£






Charged to profit or loss
(12,580)



At end of year
(12,580)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation of investment properties
(12,580)
-

(12,580)
-

 
Page 7