R & B Properties (Nottingham) Limited 08227624 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is property investment and letting Digita Accounts Production Advanced 6.30.9574.0 true 08227624 2023-10-01 2024-09-30 08227624 2024-09-30 08227624 core:CurrentFinancialInstruments 2024-09-30 08227624 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08227624 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 08227624 bus:SmallEntities 2023-10-01 2024-09-30 08227624 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08227624 bus:FilletedAccounts 2023-10-01 2024-09-30 08227624 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08227624 bus:RegisteredOffice 2023-10-01 2024-09-30 08227624 bus:Director1 2023-10-01 2024-09-30 08227624 bus:Director2 2023-10-01 2024-09-30 08227624 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08227624 bus:Agent1 2023-10-01 2024-09-30 08227624 core:ComputerEquipment 2023-10-01 2024-09-30 08227624 core:PlantMachinery 2023-10-01 2024-09-30 08227624 countries:EnglandWales 2023-10-01 2024-09-30 08227624 2022-10-01 2023-09-30 08227624 2023-09-30 08227624 core:CurrentFinancialInstruments 2023-09-30 08227624 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08227624 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 08227624

R & B Properties (Nottingham) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

R & B Properties (Nottingham) Limited

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 7

 

R & B Properties (Nottingham) Limited

Company Information

Directors

R Glover

BE Glover

Registered office

76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

Accountants

9ine
Chartered Accountants76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R & B Properties (Nottingham) Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R & B Properties (Nottingham) Limited for the year ended 30 September 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of R & B Properties (Nottingham) Limited, as a body, in accordance with the terms of our engagement letter dated 17 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of R & B Properties (Nottingham) Limited and state those matters that we have agreed to state to the Board of Directors of R & B Properties (Nottingham) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R & B Properties (Nottingham) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R & B Properties (Nottingham) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R & B Properties (Nottingham) Limited. You consider that R & B Properties (Nottingham) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of R & B Properties (Nottingham) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

9ine
Chartered Accountants
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

10 June 2025

 

R & B Properties (Nottingham) Limited

(Registration number: 08227624)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

400,000

400,000

Current assets

 

Debtors

13,195

8,870

Cash at bank and in hand

 

4,138

6,238

 

17,333

15,108

Prepayments and accrued income

 

1,625

1,590

Creditors: Amounts falling due within one year

4

(71,671)

(64,782)

Net current liabilities

 

(52,713)

(48,084)

Total assets less current liabilities

 

347,287

351,916

Creditors: Amounts falling due after more than one year

4

(243,094)

(254,716)

Provisions for liabilities

(2,968)

(2,968)

Accruals and deferred income

 

(13,769)

(12,995)

Net assets

 

87,456

81,237

Capital and reserves

 

Called up share capital

2

2

Other reserves

40,347

40,347

Retained earnings

47,107

40,888

Shareholders' funds

 

87,456

81,237

 

R & B Properties (Nottingham) Limited

(Registration number: 08227624)
Abridged Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 10 June 2025 and signed on its behalf by:



 

.........................................
BE Glover
Director

   
     
 

R & B Properties (Nottingham) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
76 Bridgford Road
West Bridgford
Nottingham
NG2 6AX

These financial statements were authorised for issue by the Board on 10 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental income and the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

R & B Properties (Nottingham) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

33% straight line

Other tangible assets

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

R & B Properties (Nottingham) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans which are secured of £25,500 (2023 - £25,500).

Creditors: amounts falling due after more than one year

Creditors include bank loans which are secured of £159,594 (2023 - £167,716).

Creditors include bank loans repayable by instalments of £ 57,594 (2023 - £65,716) due after more than five years.