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Company No: 00083484 (England and Wales)

R.E.P. ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

R.E.P. ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

R.E.P. ESTATES LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2024
R.E.P. ESTATES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024
DIRECTORS Jane Pattinson
Richard Edward Pattinson
SECRETARY Jane Pattinson
REGISTERED OFFICE The Spinney
Leasingham
Sleaford
NG34 8JT
United Kingdom
COMPANY NUMBER 00083484 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
18 Northgate
Sleaford
Lincolnshire
NG34 7BJ
R.E.P. ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
R.E.P. ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 778 395
Investment property 4 2,480,000 2,480,000
2,480,778 2,480,395
Current assets
Debtors 5 148,973 89,608
Cash at bank and in hand 52,780 100,353
201,753 189,961
Creditors: amounts falling due within one year 6 ( 352,610) ( 388,198)
Net current liabilities (150,857) (198,237)
Total assets less current liabilities 2,329,921 2,282,158
Provision for liabilities ( 171,407) ( 171,178)
Net assets 2,158,514 2,110,980
Capital and reserves
Called-up share capital 7 60,000 60,000
Profit and loss account 2,098,514 2,050,980
Total shareholders' funds 2,158,514 2,110,980

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of R.E.P. Estates Limited (registered number: 00083484) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

Jane Pattinson
Director
R.E.P. ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
R.E.P. ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R.E.P. Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Spinney, Leasingham, Sleaford, NG34 8JT, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 January 2024 4,016 4,016
Additions 478 478
At 31 December 2024 4,494 4,494
Accumulated depreciation
At 01 January 2024 3,621 3,621
Charge for the financial year 95 95
At 31 December 2024 3,716 3,716
Net book value
At 31 December 2024 778 778
At 31 December 2023 395 395

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 2,480,000
As at 31 December 2024 2,480,000

Valuation

Investment property was valued on an open market basis on 31 December 2020 by Banks Long & Co.

The Directors consider this still reflects the fair value of the property at 31 December 2024.

Historic cost

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

2024 2023
£ £
Historic cost 1,732,642 1,732,642

5. Debtors

2024 2023
£ £
Other debtors 148,973 89,608

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 273,742 318,753
Trade creditors 1,103 5,393
Taxation and social security 34,485 31,501
Other creditors 43,280 32,551
352,610 388,198

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
30,000 Ordinary shares of £ 1.00 each 30,000 30,000
20,000 A Ordinary shares of £ 1.00 each 20,000 20,000
10,000 B Ordinary shares of £ 1.00 each 10,000 10,000
60,000 60,000

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Balance outstanding at start of year 37,776 (1,422)
Amounts advanced 111,564 104,498
Amounts repaid (63,268) (65,414)
Balance outstanding at end of year 86,072 37,776

Interest on overdrawn directors' loan account is charged in the accounts at the official rate. The loan to the directors is unsecured and repayable on demand.