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REGISTERED NUMBER: 10675493 (England and Wales)












FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

RESIDENTIAL LAND 2 LIMITED

RESIDENTIAL LAND 2 LIMITED (REGISTERED NUMBER: 10675493)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 31 December 2022 to 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


RESIDENTIAL LAND 2 LIMITED

COMPANY INFORMATION
for the period 31 December 2022 to 31 December 2023







DIRECTORS: Mr B W Ritchie
Mr J S D A Rust



REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD



REGISTERED NUMBER: 10675493 (England and Wales)



SENIOR STATUTORY AUDITOR: Mr John Lee BA FCA



AUDITORS: Xeinadin Audit Limited, Statutory Auditor
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

RESIDENTIAL LAND 2 LIMITED (REGISTERED NUMBER: 10675493)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £   
FIXED ASSETS
Investments 4 1,291,876 3,587,188

CURRENT ASSETS
Debtors 44,180,452 41,922,705
Cash at bank 56,154 763
44,236,606 41,923,468
CREDITORS
Amounts falling due within one year 49,359,812 48,297,022
NET CURRENT LIABILITIES (5,123,206 ) (6,373,554 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,831,330

)

(2,786,366

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,831,430 ) (2,786,466 )
SHAREHOLDERS' FUNDS (3,831,330 ) (2,786,366 )

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 Income Statement and an abridged Statement of Financial Position for the period ended 31 December 2023 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 Board of Directors and authorised for issue on 14 May 2025 and were signed on its behalf by:





Mr J S D A Rust - Director


RESIDENTIAL LAND 2 LIMITED (REGISTERED NUMBER: 10675493)

NOTES TO THE FINANCIAL STATEMENTS
for the period 31 December 2022 to 31 December 2023

1. STATUTORY INFORMATION

Residential Land 2 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going concern
The financial statements have been prepared on a going concern basis even though the company's current liabilities exceed its current assets. The directors have acknowledged the latest FRC guidance on going concern during the current economic conditions. The company has prepared forecasts, taking into account reasonably possible changes, which have been reviewed by the directors, based on estimates and judgements about the economic environment in which the company operates. After making enquiries, the directors have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has access to adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements due to the continued support of the director, Mr B W Ritchie, and other group companies.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Fixed asset investments
Fixed asset investments are held at cost less amounts provided for permanent diminution in value. The carrying value of fixed asset investments is reviewed for impairment where events or changes in circumstances indicate the carrying value may not be recoverable.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

RESIDENTIAL LAND 2 LIMITED (REGISTERED NUMBER: 10675493)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 31 December 2022 to 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 31 December 2022
and 31 December 2023 8,736,358
PROVISIONS
At 31 December 2022 5,149,170
Charge for period 2,340,775
Reversal of impairments (45,463 )
At 31 December 2023 7,444,482
NET BOOK VALUE
At 31 December 2023 1,291,876
At 30 December 2022 3,587,188

Cost or valuation at 31 December 2023 is represented by:
Totals
£   
Cost 8,736,358

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr John Lee BA FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited, Statutory Auditor

6. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

7. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

8. POST BALANCE SHEET EVENTS

The company is in the process of carrying out a detailed review of its historical income and expenditure which may lead to further adjustments.