Company No:
Contents
Note | 30.09.2024 | 30.09.2023 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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320,000 | 310,000 | |||
Current assets | ||||
Debtors | 4 |
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390 | 4,221 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (99,222) | (105,976) | ||
Total assets less current liabilities | 220,778 | 204,024 | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds/(deficit) |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rezidenz Holdings Ltd (registered number:
Edward Graham Evan Lovewell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Rezidenz Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 65 Trafford Road, Norwich, NR1 2QR, United Kingdom.
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 £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Finance costs are charged to the Income Statement over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The fair value is determined annually by the director, on an open market value for existing use basis.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Year ended 30.09.2024 |
Period from 04.09.2022 to 30.09.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Investment property | |
£ | |
Valuation | |
As at 01 October 2023 |
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Fair value movement | 10,000 |
As at 30 September 2024 |
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Valuation
The 2024 valuations were made by the directors, on an open market value for existing use basis.
30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Prepayments |
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Deferred tax asset |
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30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Amounts owed to director |
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Accruals |
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Taxation and social security |
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30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Other loans (secured) |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Other loans (secured) |
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30.09.2024 | 30.09.2023 | ||
£ | £ | ||
At the beginning of financial year/period |
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(Charged)/credited to the Income Statement | (
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At the end of financial year/period |
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The deferred taxation balance is made up as follows:
30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Revaluation of investment property |
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Tax losses carry forward |
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Transactions with the entity's director
30.09.2024 | 30.09.2023 | ||
£ | £ | ||
Owed to the director | 96,221 | 107,697 |
The company has an interest-free loan from a director. The loan is repayable on demand.