| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2024 |
| for |
| REAL RENTS LTD. |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| CURRENT ASSETS |
| Cash in hand |
| CREDITORS |
| Amounts falling due within one year | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | 8 | ( |
) | ( |
) |
| 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. |
| 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 |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Disposals | ( |
) |
| At 31 March 2024 |
| NET BOOK VALUE |
| At 31 March 2024 |
| At 31 March 2023 |
| 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 |
| 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: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 April 2023 | ( |
) |
| Profit for the year |
| At 31 March 2024 | ( |
) |
| 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. |