COMPANY REGISTRATION NUMBER:
12698686
|
Filleted Unaudited Accounts |
|
|
Statement of Financial Position |
|
31 December 2024
|
31 Dec 24 |
30 Jun 23 |
|
Note |
£ |
£ |
£ |
|
|
|
|
Current assets
|
Debtors |
4 |
36,191 |
|
– |
|
Cash at bank and in hand |
359,974 |
|
218 |
|
--------- |
|
---- |
|
396,165 |
|
218 |
|
--------- |
|
---- |
|
Net current assets |
|
396,165 |
218 |
|
|
--------- |
---- |
|
Total assets less current liabilities |
|
396,165 |
218 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
5 |
|
(
894,219) |
– |
|
|
--------- |
---- |
|
Net (liabilities)/assets |
|
(
498,054) |
218 |
|
|
--------- |
---- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
(
498,154) |
118 |
|
|
--------- |
---- |
|
Shareholders (deficit)/funds |
|
(
498,054) |
218 |
|
|
--------- |
---- |
|
|
|
|
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 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 period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
30 September 2025
, and are signed on behalf of the board by:
Company registration number:
12698686
Period from 1 July 2023 to 31 December 2024
1.
General information
The company changed it name from Lets Save Limited to
RW Residential Limited
on the 16 April 2024 and it accounting reference date to 31 December 2024, therefore the results are for a 18 month period. With effect from 1 April 2024 the company changed its activities to lending to experienced developers who primarily buy or expand residential or holiday parks, transforming them into luxury gated communities. This activity is characterised by the high level of profits and value gains available compared to other segments of the property sector. The developers harness planning opportunities and modular construction technology to increase profitability while reducing development timeline and risk. All developer loans by the company are secured against property assets and approved by an experienced lending manager. These accounts should be read in conjunction with the accounts of Rudolf Wolff Residential Parks Fund (the "Fund") of which the company is a fully owned subsidiary. As at the same date as these accounts, the Fund had positive net assets of £502,151.
2.
Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have undertaken to ensure that the parent undertaking and the directors will provide support to the company for the next 12 months. Therefore, the going concern have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Debtors
|
31 Dec 24 |
30 Jun 23 |
|
£ |
£ |
|
Other debtors |
36,191 |
– |
|
-------- |
---- |
|
|
|
5.
Creditors:
amounts falling due after more than one year
|
31 Dec 24 |
30 Jun 23 |
|
£ |
£ |
|
Amounts owed to group undertakings |
429,531 |
– |
|
Other creditors |
464,688 |
– |
|
--------- |
---- |
|
894,219 |
– |
|
--------- |
---- |
|
|
|
6.
Related party transactions
During the year expense totalling £43,840 were paid to companies related to the ultimate controllingly parties and directors.
7.
Controlling party
R W Residential Limited is a 100% subsidiary of
Rudolf Wolff Investment Limited - Residential Parks Fund Segregated Account.
The overall controlling parties are the two directors P N Phelps
and J H Colvin.