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REGISTERED NUMBER: SC281638 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

REAL RENTS LTD.

REAL RENTS LTD. (REGISTERED NUMBER: SC281638)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


REAL RENTS LTD.

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S S Panesar





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC281638 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

REAL RENTS LTD. (REGISTERED NUMBER: SC281638)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 50,000 100,000

CURRENT ASSETS
Cash in hand 188 188

CREDITORS
Amounts falling due within one year (21,663 ) (19,124 )
NET CURRENT LIABILITIES (21,475 ) (18,936 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,525

81,064

CREDITORS
Amounts falling due after more than one
year

5

(95,000

)

(158,751

)
NET LIABILITIES (66,475 ) (77,687 )

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (66,477 ) (77,689 )
SHAREHOLDERS' FUNDS (66,475 ) (77,687 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 May 2025 and were signed by:





S S Panesar - Director


REAL RENTS LTD. (REGISTERED NUMBER: SC281638)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Real Rents Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements have been prepared on a going concern basis, despite the adverse balance sheet position, as the director is confident that with the continued support of the company's creditors, the company will continue into the foreseeable future.

Turnover
Turnover is measured at the fair value of rents receivable from investment properties.

Investment property
Investment properties are shown in the balance sheet at fair value. Any change in fair value is taken to the profit and loss account each year.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 100,000
Disposals (50,000 )
At 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 50,000
At 31 March 2023 100,000

The assets noted above are held for the use in operating leases.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 50,000

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank Loans - 63,751

Repayable by instalments
Other loans more 5yrs instal 95,000 95,000

REAL RENTS LTD. (REGISTERED NUMBER: SC281638)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Northern Rock Plc loans - 63,751

Northern Rock Plc holds standard securities over the individual properties and a bond and floating charge over the whole assets of the company.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Retained
earnings
£   

At 1 April 2023 (77,689 )
Profit for the year 11,212
At 31 March 2024 (66,477 )

9. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed an amount of £5,420 (2023: 6,470) to Pan5r Properties Ltd, a company under common control.

At the balance sheet date, the company owed an amount of £11,823 (2023: £8,323) to the director.