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REGISTERED NUMBER: 09487444 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 AUGUST 2024

FOR

R & C PROPERTIES MANAGEMENT LTD

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

STATEMENT OF FINANCIAL POSITION
28 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Property, plant and equipment 4 141 188
Investments 5 100 200
Investment property 6 347,959 347,959
348,200 348,347

CURRENT ASSETS
Debtors 7 682,044 706,714
Cash at bank and in hand 174 179
682,218 706,893
CREDITORS
Amounts falling due within one year 8 229,475 240,820
NET CURRENT ASSETS 452,743 466,073
TOTAL ASSETS LESS CURRENT
LIABILITIES

800,943

814,420

CREDITORS
Amounts falling due after more than one year 9 (35,994 ) (43,651 )

PROVISIONS FOR LIABILITIES 10 (35,824 ) (35,824 )
NET ASSETS 729,125 734,945

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 11 107,470 107,470
Retained earnings 621,455 627,275
729,125 734,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

STATEMENT OF FINANCIAL POSITION - continued
28 AUGUST 2024


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

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 8 May 2025 and were signed on its behalf by:





Mr S T Savage - Director


R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 AUGUST 2024

1. STATUTORY INFORMATION

R & C Properties Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09487444

Registered office: 1 Kings Avenue
London
N21 3NA

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 unless otherwise specified within these accounting policies.

Preparation of consolidated financial statements
The financial statements contain information about R & C Properties Management Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgement and estimates involved in the preparation of the financial statements.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance.

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Taxation
Taxation for the year 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 material 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 year 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 29 August 2023
and 28 August 2024 1,691
DEPRECIATION
At 29 August 2023 1,503
Charge for year 47
At 28 August 2024 1,550
NET BOOK VALUE
At 28 August 2024 141
At 28 August 2023 188

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 29 August 2023 200
Disposals (100 )
At 28 August 2024 100
NET BOOK VALUE
At 28 August 2024 100
At 28 August 2023 200

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 29 August 2023
and 28 August 2024 347,959
NET BOOK VALUE
At 28 August 2024 347,959
At 28 August 2023 347,959

Fair value at 28 August 2024 is represented by:
£   
Valuation in 2017 143,294
Cost 204,665
347,959

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

6. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 204,665 204,665

Investment property was valued on an open market basis on 28 August 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 664,673 634,798
Other debtors 17,371 71,916
682,044 706,714

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,798 6,320
Trade creditors 5,430 753
Amounts owed to group undertakings 10,252 8,150
Other creditors 206,995 225,597
229,475 240,820

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 35,994 43,651

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,800 18,373

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 35,824 35,824

Deferred
tax
£   
Balance at 29 August 2023 35,824
Balance at 28 August 2024 35,824

R & C PROPERTIES MANAGEMENT LTD (REGISTERED NUMBER: 09487444)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 AUGUST 2024

11. RESERVES
Fair
value
reserve
£   
At 29 August 2023
and 28 August 2024 107,470

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 '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.

Included in the other debtors due within a year is an amount of £17,371 (2023: £71,916) due from the connected companies under common directorship. The loans remain interest free and recoverable on demand.

Included in the other creditors due within a year is an amount of £24,193 (2023: £39,645) due to the connected companies with common directorship. Also,included is an amount of £1,588 (2023:£1,588) due to a connected entity in which the directors have a participating interest. Also, included is an amount of £178,869 (2023: £84,853) due to the directors of the company. The loans remain interest free and repayable on demand.