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REGISTERED NUMBER: 13366695 (England and Wales)



















RCEC UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RCEC UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Ms Wai Yu Catherine Chan





REGISTERED OFFICE: 27 Old Glouchester Street
London
WC1N 3AX





REGISTERED NUMBER: 13366695 (England and Wales)





ACCOUNTANTS: CW
Chartered Accountants
9 Royal Crescent
Glasgow
G3 7SP

RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,245 1,391
Investment property 5 595,461 574,751
596,706 576,142

CURRENT ASSETS
Debtors 6 4,622 5,134
Cash at bank 3,328 250
7,950 5,384
CREDITORS
Amounts falling due within one year 7 612,824 601,545
NET CURRENT LIABILITIES (604,874 ) (596,161 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,168

)

(20,019

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (8,268 ) (20,119 )
(8,168 ) (20,019 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2025 and were signed by:





Ms Wai Yu Catherine Chan - Director


RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

RCEC UK 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover shown in the profit and loss account represents the value of rental income receivable during the year. Income is recognised on the basis of rent due for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment and Fittings - 20% on cost

Investment property
Investment properties are shown at their fair value. The surplus or deficit arising from the annual revaluation is recognised in the Profit and Loss account for the period. The movement is subsequently transferred to the fair value reserve.

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in fair value reserve together with the fair value movement.

This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance.

Financial instruments
Basic financial instruments such as cash, debtors and creditors are measured at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Equipment
and
Fittings
£   
COST
At 1 May 2023 1,684
Additions 120
At 30 April 2024 1,804
DEPRECIATION
At 1 May 2023 293
Charge for year 266
At 30 April 2024 559
NET BOOK VALUE
At 30 April 2024 1,245
At 30 April 2023 1,391

RCEC UK LIMITED (REGISTERED NUMBER: 13366695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 574,751
Additions 20,710
At 30 April 2024 595,461
NET BOOK VALUE
At 30 April 2024 595,461
At 30 April 2023 574,751

The director considers the valuation of the property at the year end to be equivalent to the cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 78
Deferred tax asset 1,637 4,440
Prepayments 2,985 616
4,622 5,134

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Director's current accounts 608,866 596,370
Accrued expenses and prepaid income 3,958 5,175
612,824 601,545

The director's loan is interest free and repayable on demand.

8. RELATED PARTY DISCLOSURES

The loan balance due to the director amounted to £608,866 (2023: £596,370) at the year end.