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Registered Number: 09781389
England and Wales

 

 

 

RT74 LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2024. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts for the period ended 31st March 2022.



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
Cambs
PE1 2DU
04 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 126,845    127,261 
Investments 4 8,606    8,605 
135,451    135,866 
Current assets      
Debtors: amounts falling due within one year 2,519,341    1,630,020 
Debtors: amounts falling due after one year 5,113,836    6,244,461 
Cash at bank and in hand 54,715    155,484 
7,687,892    8,029,965 
Creditors: amount falling due within one year (174,258)   (231,067)
Net current assets 7,513,634    7,798,898 
 
Total assets less current liabilities 7,649,085    7,934,764 
Creditors: amount falling due after more than one year (3,589,890)   (3,828,648)
Provisions for liabilities (7,840)   (7,840)
Net assets 4,051,355    4,098,276 
 

Capital and reserves
     
Called up share capital 5 203    203 
Reserves 6 41,265    41,265 
Profit and loss account 4,009,887    4,056,808 
Shareholders' funds 4,051,355    4,098,276 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 February 2025 and were signed by:


-------------------------------
Rakesh Thakrar
Director
2
General Information
RT74 Limited is a private company, limited by shares, registered in England and Wales, registration number 09781389 , registration address Fenlake House, Fenlake Business Centre, Peterborough, PE1 5BQ.
The presentation currency is GBP.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Office Equipment   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 April 2023 764    3,852    125,000    129,616 
Additions   457      457 
Disposals      
At 31 March 2024 764    4,309    125,000    130,073 
Depreciation
At 01 April 2023 370    1,985      2,355 
Charge for year 99    774      873 
On disposals      
At 31 March 2024 469    2,759      3,228 
Net book values
Closing balance as at 31 March 2024 295    1,550    125,000    126,845 
Opening balance as at 01 April 2023 394    1,867    125,000    127,261 

The director revalued the investment property using a comparison to other similar local properties.  The last valuation was carried out 31/3/2022 

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2023 8,605    8,605 
Additions 1    1 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2024 8,606    8,606 
Included in investments above are the following:

The company owns 1 ordinary E share of £0.01 in E-Recruiter Ltd.  This equates to 0.01% of the total shares issued in this company.

The company owns 1 ordinary share of £1 in RT1 Investments Ltd.  This equates to 100% of the total shares issued in the company.

The company owns 49 ordinary A shares in Bwarehouse Ltd.  This equates to 49% of the total shares issued in the company.

The company owns 50 ordinary shares in RA London Road Ltd.  This equates to 50% of the total shares issued in the company.

The company owns 5 ordinary B shares in RA Chester Road Ltd.  This equates to 50% of the total shares issued in the company.

The company acquired 1 ordinary H share in Coe Group Ltd on the 29th November 2023.
This equates to 0.5% of the total shares issued in the company.




5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
203 Ordinary shares of £1.00 each 203    203 
203    203 
95 Ordinary A shares of £1 each
5 Ordinary B shares of £1 each
1 Ordinary C shares of £1 each
1 Ordinary D shares of £1 each
1 Ordinary E shares of £1 each
100 Ordinary F shares of £1 each

6.

Related Party Transactions

During the year the company entered into the following transactions:

During the year the company was repaid £5,312 from HJE Properties Limited, which is a company controlled by Mr R Thakrar, a director of RT74 Limited.  The balance outstanding at the 31st March 2024 was £36,883 (2023: £42,195).

At the 31st March 2024 the company was owed £5,000 by HJE Holding Limited (2023: £5,000. This company is controlled by Mr R Thakrar, a director of RT74 Ltd.

During the year the company was repaid £401,000 by Bwarehouse Ltd, which is a company managed by the same director, Mr R Thakrar.  The balance outstanding at the 31st March 2024 was £444,036 (2023: £845,036)

Mrs K Thakrar, who is the wife of the director, has a loan outstanding at the 31st March 2024 of £30,311 (2023: £27,025).

Mr K Thakrar, who is the son of the director, has a loan outstanding at the 31st March 2024 of £68,328 (2023: £40,374.

No interest has been charged on these loans.
3