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Company No: 11399955 (England and Wales)

RHR PROPERTY (DEVON) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

RHR PROPERTY (DEVON) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

RHR PROPERTY (DEVON) LIMITED

BALANCE SHEET

As at 30 June 2024
RHR PROPERTY (DEVON) LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 227 587
Investment property 4 158,082 158,082
158,309 158,669
Current assets
Debtors 5 301,719 286,186
Cash at bank and in hand 6,984 22,007
308,703 308,193
Creditors: amounts falling due within one year 6 ( 359,811) ( 364,967)
Net current liabilities (51,108) (56,774)
Total assets less current liabilities 107,201 101,895
Net assets 107,201 101,895
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 107,101 101,795
Total shareholder's funds 107,201 101,895

For the financial year ending 30 June 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 financial statements of RHR Property (Devon) Limited (registered number: 11399955) were approved and authorised for issue by the Director on 02 January 2025. They were signed on its behalf by:

Ms J M Horth
Director
RHR PROPERTY (DEVON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
RHR PROPERTY (DEVON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RHR Property (Devon) Limited (the Company) is a private company, limited by shares, incorporated in England and Wales under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office;
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE

The principal place of business is:
Otter House
61 Fore Street
OTTERTON
EX9 7HB

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of rental income receivable in the ordinary course of the company's activities. The company recognises revenue in the period to which it relates with accrued and deferred income being adjusted as necessary.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 July 2023 1,800 1,800
Disposals ( 545) ( 545)
At 30 June 2024 1,255 1,255
Accumulated depreciation
At 01 July 2023 1,213 1,213
Charge for the financial year 142 142
Disposals ( 327) ( 327)
At 30 June 2024 1,028 1,028
Net book value
At 30 June 2024 227 227
At 30 June 2023 587 587

4. Investment property

Investment property
£
Valuation
As at 01 July 2023 158,082
As at 30 June 2024 158,082

Valuation

The property was valued at the year end by the director on an open market basis. The fair value was deemed to be materially equal to the existing carrying value.

5. Debtors

2024 2023
£ £
Prepayments and accrued income 1,719 1,186
Other debtors 300,000 285,000
301,719 286,186

6. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 1,374 4,800
Other creditors 358,437 360,167
359,811 364,967

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Loan due to director, interest free and repayable on demand 356,422 358,277