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Registration number: 00683115

R R Consultants Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

R R Consultants Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

R R Consultants Limited

Company Information

Director

Ms HJ Bailey

Registered office

9A Burroughs Gardens
London
NW4 4AU

Registered number

00683115

Accountants

Ripe LLP
Chartered accountants
9A Burroughs Gardens
London
NW4 4AU

 

R R Consultants Limited

(Registration number: 00683115)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,011,004

1,945,243

Investment property

5

560,000

550,000

 

2,571,004

2,495,243

Current assets

 

Debtors

6

15,157

27,482

Cash at bank and in hand

 

29,172

57,613

 

44,329

85,095

Creditors: Amounts falling due within one year

7

(39,500)

(37,318)

Net current assets

 

4,829

47,777

Total assets less current liabilities

 

2,575,833

2,543,020

Creditors: Amounts falling due after more than one year

7

(530,498)

(404,665)

Net assets

 

2,045,335

2,138,355

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

1,286,070

1,276,070

Retained earnings

759,165

862,185

Shareholders' funds

 

2,045,335

2,138,355

 

R R Consultants Limited

(Registration number: 00683115)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 December 2024
 

Ms HJ Bailey
Director

   
     
 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9A Burroughs Gardens
London
NW4 4AU
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Turnover

Turnover represents amounts receivable for rental and management income net of VAT.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

The freehold property is reviewed by the directors regularly, who make any adjustments for impairments and revaluations accordingly.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings & equipment

15% reducing balance

 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Office equipment

33% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,900,000

75,321

37,854

2,013,175

Additions

70,286

-

4,214

74,500

At 31 March 2024

1,970,286

75,321

42,068

2,087,675

Depreciation

At 1 April 2023

-

38,925

29,007

67,932

Charge for the year

-

5,460

3,279

8,739

At 31 March 2024

-

44,385

32,286

76,671

Carrying amount

At 31 March 2024

1,970,286

30,936

9,782

2,011,004

At 31 March 2023

1,900,000

36,396

8,847

1,945,243

5

Investment properties

2024
£

At 1 April

550,000

Fair value adjustments

10,000

At 31 March

560,000

There has been no valuation of investment property by an independent valuer.

The investment property was valued at £560,000 in March 2024 by the director H J Bailey.

 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

8,823

14,065

Prepayments

2,334

2,693

Other debtors

4,000

10,724

 

15,157

27,482

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Loans and borrowings

9

10,000

10,000

Taxation and social security

 

437

-

Other creditors

 

29,063

27,318

 

39,500

37,318

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

9

13,333

22,500

Director's loan account

11

517,165

382,165

 

530,498

404,665

 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,333

22,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000




Bank Borrowing
The company received a Bounce Back Loan balance of £50,000 from Barclays Bank, repayable in 60 equal monthly instalments, commencing June 2021 and having an interest rate of 2.50% per annum.

10

Dividends

2024
 £

2023
 £

Ordinary shares of £1 each
Final

40,000

38,000

 

R R Consultants Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

11

Related party transactions


Transactions with directors
Included in creditors amounts falling due after one year is balance of £517,165 (2023: £382,165) due to Mrs H J Bailey, a director of the company.