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Registration number: 11642197

R&R (Greenford) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

R&R (Greenford) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

R&R (Greenford) Ltd

Company Information

Directors

Lady R Ranger

Lord RS Ranger CBE

Registered office

Sun House
428 Long Drive
Greenford
Middlesex
UB6 8UH

Accountants

Xeinadin London Ltd
26 High Street
Rickmansworth
Herts
WD3 1ER

 

R&R (Greenford) Ltd

(Registration number: 11642197)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,587

4,108

Investment property

5

45,819,693

43,364,350

 

45,823,280

43,368,458

Current assets

 

Debtors

6

1,492,249

1,785,507

Cash at bank and in hand

 

536,983

565,821

 

2,029,232

2,351,328

Creditors: Amounts falling due within one year

7

(22,071,274)

(12,757,445)

Net current liabilities

 

(20,042,042)

(10,406,117)

Total assets less current liabilities

 

25,781,238

32,962,341

Creditors: Amounts falling due after more than one year

7

-

(7,851,765)

Provisions for liabilities

(4,388,430)

(4,388,430)

Net assets

 

21,392,808

20,722,146

Capital and reserves

 

Called up share capital

8

1

1

Revaluation reserve

18,708,573

18,708,573

Retained earnings

2,684,234

2,013,572

Shareholders' funds

 

21,392,808

20,722,146

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

R&R (Greenford) Ltd

(Registration number: 11642197)
Balance Sheet as at 31 August 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
Lady R Ranger
Director

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sun House
428 Long Drive
Greenford
Middlesex
UB6 8UH
United Kingdom

These financial statements were authorised for issue by the Board on 29 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

15% Reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

4,833

4,833

Additions

240

240

At 31 August 2024

5,073

5,073

Depreciation

At 1 September 2023

725

725

Charge for the year

761

761

At 31 August 2024

1,486

1,486

Carrying amount

At 31 August 2024

3,587

3,587

At 31 August 2023

4,108

4,108

5

Investment properties

2024
£

At 1 September

43,364,350

Additions

2,455,343

At 31 August

45,819,693


Properties are revalued on the basis of independent valuations carried out by Colliers International Property consultants Ltd in January 2022 on separate properties.

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

86,125

107,164

Amounts owed by related parties

879,275

1,593,102

Prepayments

 

88,006

80,411

Other debtors

 

438,843

4,830

   

1,492,249

1,785,507

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

322,500

Trade creditors

 

1,216,031

499,240

Amounts owed to group undertakings and undertakings in which the company has a participating interest

20,001,338

10,217,738

Taxation and social security

 

209,896

400,400

Accruals and deferred income

 

139,526

736,335

Other creditors

 

504,483

581,232

 

22,071,274

12,757,445

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

7,851,765

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

7,851,765

Current loans and borrowings

 

R&R (Greenford) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

2024
£

2023
£

Bank borrowings

-

322,500

The bank loan is secured by a fixed charge on the company's properties.