| RE Properties Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Investment property |
|
In accordance with SSAP 19, investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve and no depreciation is provided in respect of freehold properties. The directors consider that this accounting policy results in the financial statements giving a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which otherwise might have been shown cannot be separately identified or quantified. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Number of Employees |
2025 |
|
2024 |
| No |
No |
|
|
|
|
|
|
|
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2024 |
430,000 |
|
At 31 March 2025 |
430,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
430,000 |
|
At 31 March 2024 |
430,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
657,433 |
|
657,433 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
657,433 |
|
657,433 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,579 |
|
4,226 |
|
Other debtors |
96,160 |
|
96,160 |
|
|
|
|
|
|
97,739 |
|
100,386 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Corporation tax |
1,190 |
|
5,016 |
|
Other creditors |
57,128 |
|
59,554 |
|
|
|
|
|
|
58,318 |
|
64,570 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
249,625 |
|
272,710 |
|
Released on disposal of properties |
- |
|
(23,085) |
|
|
At 31 March 2025 |
249,625 |
|
249,625 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
Mr R W Emanuel |
|
Directors loan account |
(26,000) |
|
248 |
|
(3,197) |
|
(28,949) |
|
|
| 8 |
Other information |
|
|
RE Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
6 Ty Nant Court |
|
Morganstown |
|
Cardiff |
|
CF15 8LW |