Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-052024-04-05The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-04-06falseNo description of principal activity22truetrue 00537207 2023-04-06 2024-04-05 00537207 2022-04-06 2023-04-05 00537207 2024-04-05 00537207 2023-04-05 00537207 c:Director1 2023-04-06 2024-04-05 00537207 d:FreeholdInvestmentProperty 2024-04-05 00537207 d:FreeholdInvestmentProperty 2023-04-05 00537207 d:CurrentFinancialInstruments 2024-04-05 00537207 d:CurrentFinancialInstruments 2023-04-05 00537207 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-05 00537207 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-05 00537207 d:ShareCapital 2024-04-05 00537207 d:ShareCapital 2023-04-05 00537207 d:OtherMiscellaneousReserve 2024-04-05 00537207 d:OtherMiscellaneousReserve 2023-04-05 00537207 d:RetainedEarningsAccumulatedLosses 2024-04-05 00537207 d:RetainedEarningsAccumulatedLosses 2023-04-05 00537207 c:FRS102 2023-04-06 2024-04-05 00537207 c:AuditExempt-NoAccountantsReport 2023-04-06 2024-04-05 00537207 c:FullAccounts 2023-04-06 2024-04-05 00537207 c:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00537207 d:OtherDeferredTax 2024-04-05 00537207 d:OtherDeferredTax 2023-04-05 00537207 2 2023-04-06 2024-04-05 00537207 e:PoundSterling 2023-04-06 2024-04-05 iso4217:GBP xbrli:pure

Registered number: 00537207









ROYEL PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 5 APRIL 2024

 
ROYEL PROPERTIES LIMITED
REGISTERED NUMBER: 00537207

STATEMENT OF FINANCIAL POSITION
AS AT 5 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
500,000
500,000

  
500,000
500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
81,612
74,155

Cash at bank and in hand
 6 
921
921

  
82,533
75,076

Creditors: amounts falling due within one year
 7 
(44,058)
(42,455)

Net current assets
  
 
 
38,475
 
 
32,621

Total assets less current liabilities
  
538,475
532,621

Provisions for liabilities
  

Deferred tax
 8 
(109,221)
(109,221)

  
 
 
(109,221)
 
 
(109,221)

Net assets
  
429,254
423,400


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Other reserves
  
327,661
327,661

Profit and loss account
  
100,593
94,739

  
429,254
423,400


Page 1

 
ROYEL PROPERTIES LIMITED
REGISTERED NUMBER: 00537207
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 5 APRIL 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 




C W Lewis
Director

Date: 17 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ROYEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

1.


General information

Royel Properties Limited is a private company limited by shares and incorporated in England & Wales. (registered number: 00537207). The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.
The financial statements are presented in Sterling, which is the functional currency of the Company.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net asset position the directors consider it appropriate to prepare the financial statements on a going concern basis.
Accordingly the directors have continued to prepare the financial statements on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
ROYEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
ROYEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
ROYEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

4.


Investment property


Freehold investment property

£



Valuation


At 6 April 2023
500,000



At 5 April 2024
500,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
63,118
63,118

63,118
63,118


5.


Debtors

2024
2023
£
£


Trade debtors
49,445
41,684

Other debtors
27,730
29,247

Prepayments and accrued income
4,437
3,224

81,612
74,155



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
921
921

921
921


Page 6

 
ROYEL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,623
2,592

Other creditors
22,411
21,701

Accruals and deferred income
16,024
18,162

44,058
42,455



8.


Deferred taxation




2024


£






At beginning of year
(109,221)



At end of year
(109,221)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Arising on revaluation of investment property
109,221
109,221

 
Page 7