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REGISTERED NUMBER: 14170624 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2024

for

RM Property Rentals Limited

RM Property Rentals Limited (Registered number: 14170624)

Contents of the Financial Statements
for the Year Ended 30th June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RM Property Rentals Limited

Company Information
for the Year Ended 30th June 2024







DIRECTORS: R M Miller
Mrs R L Miller





REGISTERED OFFICE: The Lodge
93 Normanston Drive
Oulton Broad
Lowestoft
Suffolk
NR32 2PX





REGISTERED NUMBER: 14170624 (England and Wales)





ACCOUNTANTS: N.C.N.M. Accountancy Limited
Chartered Accountants
The Lodge
93 Normanston Drive
Oulton Broad
Lowestoft
Suffolk
NR32 2PX

RM Property Rentals Limited (Registered number: 14170624)

Balance Sheet
30th June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 122,000 131,122

CURRENT ASSETS
Cash at bank 4,758 2,207

CREDITORS
Amounts falling due within one year 5 44,477 44,159
NET CURRENT LIABILITIES (39,719 ) (41,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,281

89,170

CREDITORS
Amounts falling due after more than one
year

6

91,670

89,000
NET (LIABILITIES)/ASSETS (9,389 ) 170

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (9,409 ) 150
(9,389 ) 170

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

RM Property Rentals Limited (Registered number: 14170624)

Balance Sheet - continued
30th June 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27th March 2025 and were signed on its behalf by:





R M Miller - Director


RM Property Rentals Limited (Registered number: 14170624)

Notes to the Financial Statements
for the Year Ended 30th June 2024


1. STATUTORY INFORMATION

RM Property Rentals 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received during the period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern
The balance sheet shows a net liability position at the end of the year following the revaluation of investment properties. The Directors have confirmed their continued support for the company through the Directors' current account balances included within Other Creditors totalling £42,700 at the end of the year. The Directors have confirmed they will not seek repayment of these balances until the company is financially able to do so. In consideration of the above, the Directors consider that it is appropriate to prepare these financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

RM Property Rentals Limited (Registered number: 14170624)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2023 131,122
Revaluations (9,122 )
At 30th June 2024 122,000
NET BOOK VALUE
At 30th June 2024 122,000
At 30th June 2023 131,122

The property was valued at the end of the year by the Directors using open market data for properties in the area.

Fair value at 30th June 2024 is represented by:
£   
Valuation in 2024 122,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 59
Other creditors 44,477 44,100
44,477 44,159

Other creditors includes 42,700 (2023: £42,450) of monies advanced by the Directors. There are no fixed repayment terms and the advances are interest free.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 91,670 89,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 91,670 89,000

Bank loans represent an interest only mortgage. The term is 30 years from the date of draw down which was 7th March 2023. The mortgage is secured by way of a fixed charge over the property together with a director / shareholder guarantee over the amount outstanding at any given time.