Company registration number 01198868 (England and Wales)
RESHAW PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RESHAW PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
RESHAW PROPERTIES LIMITED (REGISTERED NUMBER: 01198868)
BALANCE SHEET
AS AT 30 DECEMBER 2024
30 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,842
2,488
Investment property
4
6,664,620
6,941,312
6,667,462
6,943,800
Current assets
Debtors
6
32,072
38,153
Investments
7
274,386
270,000
Cash at bank and in hand
1,429,310
1,288,311
1,735,768
1,596,464
Creditors: amounts falling due within one year
8
(120,293)
(120,948)
Net current assets
1,615,475
1,475,516
Total assets less current liabilities
8,282,937
8,419,316
Provisions for liabilities
(630,262)
(703,853)
Net assets
7,652,675
7,715,463
Capital and reserves
Called up share capital
396
396
Non-distributable profits reserve
9
2,408,735
2,630,456
Distributable profit and loss reserves
5,243,544
5,084,611
Total equity
7,652,675
7,715,463
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
RESHAW PROPERTIES LIMITED (REGISTERED NUMBER: 01198868)
BALANCE SHEET (CONTINUED)
AS AT 30 DECEMBER 2024
30 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 June 2025 and are signed on its behalf by:
Mr C Armour
Director
RESHAW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Reshaw Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 399-401 Strand, London, United Kingdom, WC2R 0LT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” FRS 102 and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable relating to rental income provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, 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 end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
RESHAW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
RESHAW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 31 December 2023
18,805
2,453
21,258
Additions
1,225
1,225
At 30 December 2024
20,030
2,453
22,483
Depreciation and impairment
At 31 December 2023
18,314
456
18,770
Depreciation charged in the year
371
500
871
At 30 December 2024
18,685
956
19,641
Carrying amount
At 30 December 2024
1,345
1,497
2,842
At 30 December 2023
491
1,997
2,488
4
Investment property
2024
£
Fair value
At 31 December 2023
6,941,312
Additions
17,988
Revaluations
(294,680)
At 30 December 2024
6,664,620
Investment property comprises £6,664,620. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
274,386
270,000
RESHAW PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 DECEMBER 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
27,636
34,664
Other debtors
4,436
3,489
32,072
38,153
7
Current asset investments
2024
2023
£
£
Other investments
274,386
270,000
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,795
26,795
Taxation and social security
52,961
38,662
Other creditors
40,537
55,491
120,293
120,948
9
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
2,630,456
2,536,836
Non distributable profits in the year
(221,721)
93,620
At the end of the year
2,408,735
2,630,456