RV Apartments Limited
for the Period from 1 October 2023 to 31 March 2025
RV Apartments Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
RV Apartments Limited
Company Information
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Directors |
P Oliphant S K Oliphant S M Davidson K A Davidson |
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Registered office |
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Registered Number |
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Accountants |
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RV Apartments Limited
(Registration number: 14357434)
Balance Sheet as at 31 March 2025
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2025 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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RV Apartments Limited
(Registration number: 14357434)
Balance Sheet as at 31 March 2025
For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 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 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. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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;
- the entity no longer retains effective control over the services provided;
- the cost incurred or to be incurred in respect of the transaction can be reliably measured;
- and specific criteria have been met for each of the company's activities.
RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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.
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:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
20% on cost |
Investment property
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 merchandise sold or 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.
RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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.
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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Tangible assets |
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Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Additions |
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At 31 March 2025 |
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Depreciation |
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At 1 October 2023 |
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Charge for the period |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 30 September 2023 |
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Investment properties |
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2025 |
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At 1 October |
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Impairment |
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At 31 March |
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The fair value of the properties at 31 March 2025 have been arrived at on the basis of a valuation carried out at that date by the directors. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their locations.
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Debtors |
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2025 |
2023 |
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Trade debtors |
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- |
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Prepayments |
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Other debtors |
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- |
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RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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Creditors |
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2025 |
2023 |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Amounts due to related parties |
1,392,888 |
1,597,574 |
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Other creditors |
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2025 |
2023 |
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Due after one year |
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Bank borrowings |
4,304,390 |
4,304,390 |
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Amounts due to related parties |
226,864 |
274,678 |
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The bank loans are secured via a fixed charge over the investment properties held by the company and a personal guarantee by the directors. The carrying amount at period end is £4,304,390 (2023 - £4,304,390).
RV Apartments Limited
Notes to the Unaudited Financial Statements for the Period from 1 October 2023 to 31 March 2025
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Related party transactions |
Loans from related parties
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2025 |
Key management |
Other related parties |
Total |
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At start of period |
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Advanced |
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- |
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Repaid |
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At end of period |
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- |
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2023 |
Key management |
Other related parties |
Total |
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Advanced |
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Repaid |
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At end of period |
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Terms of loans from related parties
Of the total loans from key management, £226,864 is repayable after one year, the remaining balance of £1,392,888 is repayable on demand.