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REGISTERED NUMBER: SC244580 (Scotland)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

REAL LETTING LTD.

REAL LETTING LTD. (REGISTERED NUMBER: SC244580)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


REAL LETTING LTD.

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S S Panesar





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC244580 (Scotland)





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

REAL LETTING LTD. (REGISTERED NUMBER: SC244580)

Abridged Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 157
Investment property 5 430,000 595,000
430,000 595,157

CURRENT ASSETS
Debtors - 22,924
Cash at bank 3,860 702
3,860 23,626
CREDITORS
Amounts falling due within one year (223,569 ) (187,425 )
NET CURRENT LIABILITIES (219,709 ) (163,799 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

210,291

431,358

CREDITORS
Amounts falling due after more than one
year

6

(127,136

)

(283,085

)
NET ASSETS 83,155 148,273

CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium 9 129,950 129,950
Retained earnings 9 (46,895 ) 18,223
SHAREHOLDERS' FUNDS 83,155 148,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

REAL LETTING LTD. (REGISTERED NUMBER: SC244580)

Abridged Balance Sheet - continued
29 February 2024


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 29 February 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 LETTING LTD. (REGISTERED NUMBER: SC244580)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Real Letting 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 2,350
Disposals (2,350 )
At 29 February 2024 -
DEPRECIATION
At 1 March 2023 2,193
Charge for year 157
Eliminated on disposal (2,350 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 157

5. INVESTMENT PROPERTY

The assets held above are used for the purpose of generating rental income.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 595,000

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Northern Rock-due within 1 yr - 283,085

REAL LETTING LTD. (REGISTERED NUMBER: SC244580)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 171,428 283,085

The company bankers hold standard securities over the properties owned by the company and have bonds and floating charges over the whole of the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 March 2023 18,223 129,950 148,173
Deficit for the year (65,118 ) (65,118 )
At 29 February 2024 (46,895 ) 129,950 83,055

10. RELATED PARTY DISCLOSURES

On 1st March 2019, the shareholders as a body agreed with the Director that they would transfer all their shares to another company, Real Letting 2 Limited, that has the same shareholders and who hold the shares with the same ownership structure as Real Letting Ltd. Since then the shares have been held in Trust by the sitting shareholders for Real Letting 2 Limited. Real Letting Ltd. has been treated by the Director and shareholders as the wholly owned subsidiary company of Real Letting 2 Limited since that date. The shares were transferred to Real Letting 2 Limited on 15th September 2023

At the balance sheet date, the company owed an amount of £12,446 to Real Letting 2 Limited a company under common control of the Director of Real Letting Ltd.In 2023 the company was owed £22,924.

At the balance sheet date, the company owed an amount of £6,510 (2023: £26,510) to Panesar Properties Ltd, a company under common control of the Director of Real Letting Ltd.

At the balance sheet date, the company owed an amount of £27,050 (2023: £27,050) to Pan5r Properties Ltd, a company under common control of the Director of Real Letting Ltd.