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Registered number: 15130967









47 RW LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 11 MONTHS ENDED 31 JULY 2024

 
47 RW LIMITED
REGISTERED NUMBER: 15130967

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
Note
£

  

Current assets
  

Stocks
  
2,263,251

Debtors: amounts falling due within one year
 4 
782

  
2,264,033

Creditors: amounts falling due within one year
 5 
(1,348,132)

Net current assets
  
 
 
915,901

Total assets less current liabilities
  
915,901

Creditors: amounts falling due after more than one year
 6 
(926,082)

  

Net (liabilities)/assets
  
(10,181)


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
(10,281)

  
(10,181)


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 comprehensive income 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 by: 






R B Gershon
Director

Date: 24 January 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 1

 
47 RW LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE 11 MONTHS ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the 11 months

Loss for the 11 months
-
(10,281)
(10,281)
Total comprehensive income for the 11 months
-
(10,281)
(10,281)


Contributions by and distributions to owners

Shares issued during the 11 months
100
-
100


Total transactions with owners
100
-
100


At 31 July 2024
100
(10,281)
(10,181)

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
47 RW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 JULY 2024

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The principal activity of the Company is that of property development.
The Registered Office address is 35 Ballards Lane, London, N3 1XW.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company will generate future income sufficient to cover the liabilities of the company.
The company has made a loss in the year and relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve months from the date of signing of the accounts.

 
2.3

Stocks

Stock comprises development land and property stated at the lower of cost and selling price less costs to complete and sell. Cost is based on the cost of purchase.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.



 
Page 3

 
47 RW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
Financial instruments (continued)


Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously


3.


Employees




The average monthly number of employees, including directors, during the 11 months was 4.


4.


Debtors

2024
£


Other debtors
49

Prepayments and accrued income
733

782


Page 4

 
47 RW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 JULY 2024

5.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
2,800

Amounts owed to group undertakings
1,321,544

Accruals and deferred income
23,788

1,348,132


Amounts due from group companies contains a charge on the property held in stock, bears interest at 13% per annum and is repayable on demand. The interest expense is capitalised to stock.


6.


Creditors: Amounts falling due after more than one year

2024
£

Other loans
926,082


The loan is secured by a charge on the property held in stock, a personal guarantee to provided by B W Thwaites, a debenture over the Company's assets and bears interest at 8% per annum. This loan is repayable in January 2026.


7.


Share capital

2024
£
Allotted, called up and fully paid


51 Ordinary A shares of £1.00 each
51
23 Ordinary B shares of £1.00 each
23
1 Ordinary C share of £1.00
1
1 Ordinary D share of £1.00
1
1 Ordinary E share of £1.00
1
23 Ordinary F shares of £1.00 each
23

100


100 Ordinary shares of £1 each were issued for a consideration of £100 during the period.
All classes of shares have the same rights.

Page 5

 
47 RW LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTHS ENDED 31 JULY 2024

8.


Related party transactions

Included in other debtors is £49 receivable from shareholders.
Included in amounts owed to group companies is £1,321,544 due to a shareholder at year end. Interest of £102,317 was paid on this loan during the year and capitalised to stock. Management recharges of £6,334 was paid to this shareholder during the year.


9.


Controlling party

The parent undertaking is Tranos (UK) Limited, a company registered in England & Wales.
The registered office is 35 Ballards Lane, London, N3 1XW.


10.


Auditors' information

The auditors' report on the financial statements for the 11 months ended 31 July 2024 was unqualified.

The audit report was signed on 24 January 2025 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 6