Company registration number 09527026 (England and Wales)
RF PROPERTY GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
RF PROPERTY GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RF PROPERTY GROUP LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
6,339,000
6,584,000
Current assets
Debtors
5
4,295
27,096
Cash at bank and in hand
289,252
298,900
293,547
325,996
Creditors: amounts falling due within one year
6
(310,082)
(430,378)
Net current liabilities
(16,535)
(104,382)
Total assets less current liabilities
6,322,465
6,479,618
Creditors: amounts falling due after more than one year
7
(3,326,009)
(3,534,459)
Net assets
2,996,456
2,945,159
Capital and reserves
Called up share capital
200
200
Share premium account
2,486,489
2,486,489
Profit and loss reserves
509,767
458,470
Total equity
2,996,456
2,945,159
RF PROPERTY GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
Mr R W Fowler
Director
Company registration number 09527026 (England and Wales)
RF PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

RF Property Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Brunswick Place, Southampton, Hampshire, SO15 2AQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover represents rental amounts received during the period.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only enters into Basic financial instrument transactions.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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.

RF PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

 

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

RF PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 May 2023
6,584,000
Disposals
(245,000)
At 30 April 2024
6,339,000

Investment property comprises of 43 properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 April 2019. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,637
17,015
Other debtors
(342)
10,081
4,295
27,096
RF PROPERTY GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,354
4,004
Corporation tax
24,782
16,636
Deferred income
20,950
22,764
Other creditors
259,556
385,654
Accruals and deferred income
1,440
1,320
310,082
430,378
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
3,326,009
3,534,459
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
191,789
202,602
Other related parties
33,660
156,298
2024-04-302023-05-01false31 January 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr R W Fowlerfalsefalse095270262023-05-012024-04-30095270262024-04-30095270262023-04-3009527026core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3009527026core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3009527026core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3009527026core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3009527026core:CurrentFinancialInstruments2024-04-3009527026core:CurrentFinancialInstruments2023-04-3009527026core:ShareCapital2024-04-3009527026core:ShareCapital2023-04-3009527026core:SharePremium2024-04-3009527026core:SharePremium2023-04-3009527026core:RetainedEarningsAccumulatedLosses2024-04-3009527026core:RetainedEarningsAccumulatedLosses2023-04-3009527026bus:Director12023-05-012024-04-30095270262022-05-012023-04-30095270262023-04-3009527026core:Non-currentFinancialInstruments2024-04-3009527026core:Non-currentFinancialInstruments2023-04-3009527026core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity2024-04-3009527026bus:PrivateLimitedCompanyLtd2023-05-012024-04-3009527026bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3009527026bus:FRS1022023-05-012024-04-3009527026bus:AuditExemptWithAccountantsReport2023-05-012024-04-3009527026bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP