REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
Rayarels Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st May 2024 |
for |
Rayarels Properties Limited |
Rayarels Properties Limited (Registered number: 14117469) |
Contents of the Financial Statements |
for the Year Ended 31st May 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Rayarels Properties Limited (Registered number: 14117469) |
Balance Sheet |
31st May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
Rayarels Properties Limited (Registered number: 14117469) |
Notes to the Financial Statements |
for the Year Ended 31st May 2024 |
1. | COMPANY INFORMATION |
Rayarels Properties Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the provision of professional services is recognised on delivery of the service. |
Tangible fixed assets |
Tangible fixed assets are included at cost less depreciation and impairment. Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful life. |
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. |
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. |
Going concern |
The company expects to make a profit in the next financial year as each property is let out. In the meantime, the director has committed to support the company financially until the rental income is sufficient to meet costs. |
Rayarels Properties Limited (Registered number: 14117469) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Motor |
vehicles |
£ |
COST |
Additions |
At 31st May 2024 |
DEPRECIATION |
Charge for year |
At 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st June 2023 |
and 31st May 2024 |
NET BOOK VALUE |
At 31st May 2024 |
At 31st May 2023 |
Investment property: |
Purchased on 3 March 2023 - 102 Cherrycroft, Skelmersdale, WN8 9DH |
Purchased on 21 March 2023 - 68 Frederick Street, Widnes, WA8 6PF |
Purchased on 6 April 2023 - 2 Edwin Street Widnes WA8 6QJ |
Purchased on 6 April 2023 - 119 Mersey Road Widnes WA8 0DT |
Purcahsed on 24 May 2023 - 6 Deacon Road Widnes Cheshire WA8 6ED |
Held at cost on acquisition, and no change in fair value at year end. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade creditors | ( |
) |
Tax |
Directors' current accounts | 757,632 | 662,556 |
Accrued expenses |
Rayarels Properties Limited (Registered number: 14117469) |
Notes to the Financial Statements - continued |
for the Year Ended 31st May 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary A | 100 | 100 | 100 |
Ordinary B | 100 | 100 | 100 |
200 | 200 |
On incorporation 100 Ordinary A shares each of £1 were allotted, called up and fully paid at par. |
On incorporation 100 Ordinary B shares each of £1 were allotted, called up and fully paid at par. |
Both share classes have equal voting, dividend and capital distribution rights. |
The A and B Shares rank pari passu in respect of dividend and capital distribution rights. |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the year ended 31st May 2024 and the period ended 31st May 2023: |
31.5.24 | 31.5.23 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan is repayable on demand and no interest was charged during the year. |
9. | CONTROLLING PARTIES |
Mr A Rayarel and Mrs S Rayarel |