Company Registration No. 00620305 (England and Wales)
RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,480
7,631
Current assets
Debtors
5
41,852
41,074
Cash at bank and in hand
164,051
229,649
205,903
270,723
Creditors: amounts falling due within one year
6
(2,790)
(42,787)
Net current assets
203,113
227,936
Total assets less current liabilities
213,593
235,567
Provisions for liabilities
(2,620)
(1,791)
Net assets
210,973
233,776
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
209,973
232,776
Total equity
210,973
233,776

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

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

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

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

The financial statements were approved by the board of directors and authorised for issue on 26 February 2025 and are signed on its behalf by:
J S D Page
Director
Company Registration No. 00620305
RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Retailers' Mortgage & Finance Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yew Tree Cottage, Edge View Lane, Alderley Edge, Cheshire, United Kingdom, SK9 7SU.

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, being investment properties, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil on investment properties.
Fixtures, fittings & equipment
15% pa on reducing balance.
Computer equipment
3 years on straight line

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.

1.4
Cash at bank and in hand

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
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

 

Management have deemed there to be no key accounting estimates present within the financial statements.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 3

2024
2023
Number
Number
Total
3
3
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 July 2023
7,631
466
8,097
Additions
-
0
3,537
3,537
At 30 June 2024
7,631
4,003
11,634
Depreciation and impairment
At 1 July 2023
-
0
466
466
Depreciation charged in the year
-
0
688
688
At 30 June 2024
-
0
1,154
1,154
Carrying amount
At 30 June 2024
7,631
2,849
10,480
At 30 June 2023
7,631
-
0
7,631
RETAILERS' MORTGAGE & FINANCE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
41,852
41,074
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
123
-
0
Taxation and social security
1,167
37,491
Other creditors
1,500
5,296
2,790
42,787
7
Directors' transactions

Dividends totalling £30,000 (2023 - £15,000) were paid in the year in respect of shares held by the company's directors.

2024-06-302023-07-01falsefalsefalse26 February 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityB D PageJ S D PageJ MacMillanMrs B Dougherty-Page006203052023-07-012024-06-30006203052024-06-30006203052023-06-3000620305core:LandBuildings2024-06-3000620305core:OtherPropertyPlantEquipment2024-06-3000620305core:LandBuildings2023-06-3000620305core:OtherPropertyPlantEquipment2023-06-3000620305core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3000620305core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3000620305core:CurrentFinancialInstruments2024-06-3000620305core:CurrentFinancialInstruments2023-06-3000620305core:ShareCapital2024-06-3000620305core:ShareCapital2023-06-3000620305core:RetainedEarningsAccumulatedLosses2024-06-3000620305core:RetainedEarningsAccumulatedLosses2023-06-3000620305bus:Director12023-07-012024-06-3000620305core:LandBuildingscore:OwnedOrFreeholdAssets2023-07-012024-06-3000620305core:FurnitureFittings2023-07-012024-06-3000620305core:ComputerEquipment2023-07-012024-06-30006203052022-07-012023-06-3000620305core:LandBuildings2023-06-3000620305core:OtherPropertyPlantEquipment2023-06-30006203052023-06-3000620305core:LandBuildings2023-07-012024-06-3000620305core:OtherPropertyPlantEquipment2023-07-012024-06-3000620305core:WithinOneYear2024-06-3000620305core:WithinOneYear2023-06-3000620305bus:PrivateLimitedCompanyLtd2023-07-012024-06-3000620305bus:FRS1022023-07-012024-06-3000620305bus:AuditExemptWithAccountantsReport2023-07-012024-06-3000620305bus:Director22023-07-012024-06-3000620305bus:Director32023-07-012024-06-3000620305bus:CompanySecretary12023-07-012024-06-3000620305bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3000620305bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP