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REGISTERED NUMBER: 11313358 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024

FOR

RMG PROPERTIES (SOLIHULL) LIMITED

RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RMG PROPERTIES (SOLIHULL) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTORS: J McGarry
R McGarry





REGISTERED OFFICE: Arrowfield Barn
Grange Lane
Alvechurch
Birmingham
B48 7DJ





REGISTERED NUMBER: 11313358 (England and Wales)





ACCOUNTANTS: Askews Chartered Certified Accountants
5 The Quadrant
Coventry
West Midlands
CV1 2EL

RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,802,561 4,800,598

CURRENT ASSETS
Debtors 5 18,363 17,313
Cash at bank and in hand 1,840 10,918
20,203 28,231
CREDITORS
Amounts falling due within one year 6 811,365 713,088
NET CURRENT LIABILITIES (791,162 ) (684,857 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,011,399

4,115,741

CREDITORS
Amounts falling due after more than one
year

7

1,788,003

1,889,687
NET ASSETS 2,223,396 2,226,054

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 2,222,417 2,222,417
Retained earnings 879 3,537
SHAREHOLDERS' FUNDS 2,223,396 2,226,054

RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

BALANCE SHEET - continued
30 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





R McGarry - Director


RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024


1. STATUTORY INFORMATION

RMG Properties (Solihull) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% per annum of cost

Freehold property is reviewed annually for any increases or impairments to ensure the properties, in the opinion of the Directors, is disclosed in a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 31 March 2023 4,799,707 1,715 4,801,422
Additions 2,402 - 2,402
At 30 March 2024 4,802,109 1,715 4,803,824
DEPRECIATION
At 31 March 2023 - 824 824
Charge for year - 439 439
At 30 March 2024 - 1,263 1,263
NET BOOK VALUE
At 30 March 2024 4,802,109 452 4,802,561
At 30 March 2023 4,799,707 891 4,800,598

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,050 -
Other debtors 17,313 17,313
18,363 17,313

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 93,641 70,376
Trade creditors 2,700 -
Taxation and social security 4,640 8,894
Other creditors 710,384 633,818
811,365 713,088

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,788,003 1,889,687

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,788,003 1,889,687

RMG PROPERTIES (SOLIHULL) LIMITED (REGISTERED NUMBER: 11313358)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 1,881,644 1,960,063

The mortgages are secured against the company's freehold properties.