Right Property Solutions Ltd Filleted Accounts Cover
Right Property Solutions Ltd
Company No. 13359978
Information for Filing with The Registrar
31 March 2024
Right Property Solutions Ltd Directors Report Registrar
The Director presents his report and the accounts for the year ended 31 March 2024.
Principal activities
The principal activity of the company during the year under review was property management and development .
Director
The Director who served at any time during the year was as follows:
Zain Khan
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Zain Khan
Director
31 March 2024
Right Property Solutions Ltd Balance Sheet Registrar
at
31 March 2024
Company No.
13359978
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
594779
594779
Current assets
Debtors
5
18,04922,194
Cash at bank and in hand
3,9132,635
21,96224,829
Creditors: Amount falling due within one year
6
(12,311)
(25,205)
Net current assets/(liabilities)
9,651
(376)
Total assets less current liabilities
10,245403
Net assets
10,245403
Capital and reserves
Called up share capital
100100
Profit and loss account
8
10,145303
Total equity
10,245403
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit 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 accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 31 March 2024 and signed on its behalf by:
Zain Khan
Director
31 March 2024
Right Property Solutions Ltd Notes to the Accounts Registrar
for the year ended 31 March 2024
1
General information
Right Property Solutions Ltd is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 13359978
Its registered office is:
36 Mayo Road
Nottingham
NG5 1BL
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director is not aware of any material threats to the ability of the company to continue to trade for the foreseeable future.
2
Accounting policies
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage completion at the year end.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% Straight line
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other 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.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 April 2023
932932
At 31 March 2024
932932
Depreciation
At 1 April 2023
153153
Charge for the year
185185
At 31 March 2024
338338
Net book values
At 31 March 2024
594594
At 31 March 2023
779
779
5
Debtors
2024
2023
£
£
Loans to directors
-10,894
Other debtors
18,04911,300
18,04922,194
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Taxes and social security
8,639
6,236
Other creditors
1,63817,743
Accruals and deferred income
2,0341,226
12,31125,205
7
Share Capital
Share Capital consists of 100 Ordinary Shares of £1 each, which are all fully paid.
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
9
Related party transactions
The company made a management charge of £17,250 (2023 £17,250) to another company in which the director serves as a director.
As at 31 March 2024 the company owed £1,637 (2023 £17,743) to this company.
In addition, at 31 March the company was owed £14,750 (2023 £8,000) by another company in which the director serves as a director.
10
Dividends
2024
2023
£
£
Dividends for the period:
Dividends paid in the period
-
9,000
-
9,000
Dividends by type:
Equity dividends
-9,000
-
9,000
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