REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 July 2024 |
for |
RELEASING HOUSES LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 July 2024 |
for |
RELEASING HOUSES LTD |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RELEASING HOUSES LTD |
Company Information |
for the Year Ended 31 July 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
143 Station Road |
Hampton |
Middlesex |
TW12 2AL |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Balance Sheet |
31 July 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges his 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. |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Balance Sheet - continued |
31 July 2024 |
The financial statements were approved by the director and authorised for issue on |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | STATUTORY INFORMATION |
Releasing Houses Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2023 |
Revaluations | 79,210 |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
Fair value at 31 July 2024 is represented by: |
£ |
Valuation in 2018 | 13,137 |
Valuation in 2021 | (41,847 | ) |
Valuation in 2024 | 79,210 |
Cost | 344,500 |
395,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.24 | 31.7.23 |
£ | £ |
Bank loans |
The mortgages provided by Gatehouse Bank PLC are secured against the freehold interests in the property known as 8 Raglan Road and 53 Woodlands Street by way of a fixed charge and a negative pledge. |
RELEASING HOUSES LTD (REGISTERED NUMBER: 10508629) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.24 | 31.7.23 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 August 2023 | ( |
) |
Profit for the year |
At 31 July 2024 |
Reserves include £40,905 which is not distributable. This relates to the unrealised revaluation of investment properties less the deferred tax effects. |
11. | GOING CONCERN |
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements. |