RMF Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04354395 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

R.M.F. PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Foskett

Mrs J E Foskett

Ms L J Foskett

M A Foskett

Mrs J Ward

SECRETARY:

R J Foskett

REGISTERED OFFICE:

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

REGISTERED NUMBER:

04354395 (England and Wales)

BANKERS:

Handelsbanken

Suite 1

6 The Quadrant

Coventry

CV1 2EL

FIXED ASSETS

Tangible assets

4

24,772

38,153

Investment properties

5

6,328,093

6,328,093

6,352,865

6,366,246

CURRENT ASSETS

Debtors

1,946,048

1,231,229

Cash at bank

3,154,495

3,847,321

5,100,543

5,078,550

CREDITORS

Amounts falling due within one year

219,288

298,699

NET CURRENT ASSETS

4,881,255

4,779,851

TOTAL ASSETS LESS CURRENT LIABILITIES

11,234,120

11,146,097

CREDITORS

Amounts falling due after more than one year

-

(14,458

)

PROVISIONS FOR LIABILITIES

(20,301

)

(45,814

)

NET ASSETS

11,213,819

11,085,825

CAPITAL AND RESERVES

Called up share capital

7

9,000

9,000

Share premium

2,778,935

2,778,935

Revaluation reserve

8

1,338,835

1,315,864

Retained earnings

7,087,049

6,982,026

SHAREHOLDERS' FUNDS

11,213,819

11,085,825

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 February 2019 and were signed on its behalf by:

R J Foskett - Director

1.	STATUTORY INFORMATION

R.M.F. Properties Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded

to the nearest £1.

Turnover

Turnover comprises of rental income and services provided in the normal course of business.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures, fittings and equipment

-

Over 3 years

Office equipment

-

25% on cost

Motor vehicles

-

25% on reducing balance

Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2017

and 30 June 2018

54,373

DEPRECIATION

At 1 July 2017

16,220

Charge for year

13,381

At 30 June 2018

29,601

NET BOOK VALUE

At 30 June 2018

24,772

At 30 June 2017

38,153

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2017

and 30 June 2018

30,379

DEPRECIATION

At 1 July 2017

7,595

Charge for year

5,696

At 30 June 2018

13,291

NET BOOK VALUE

At 30 June 2018

17,088

At 30 June 2017

22,784

5.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 July 2017

and 30 June 2018

6,328,093

NET BOOK VALUE

At 30 June 2018

6,328,093

At 30 June 2017

6,328,093

Fair value at 30 June 2018 is represented by:

£

Valuation in 2010

2,132,326

Valuation in 2012

(1,336,336

)

Valuation in 2014

(500

)

Valuation in 2016

558,939

Cost

4,973,664

6,328,093

Investment properties were valued on an open market basis on 21 October 2015 by EHB Commercial .

In the opinion of the directors' there is no change in the fair value of the investment properties.

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Hire purchase contracts

14,458

21,353

The hire purchase is secured on the assets concerned.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2,340

"A" Ordinary

£1

2,340

2,340

2,220

"B" Ordinary

£1

2,220

2,220

2,220

"C" Ordinary

£1

2,220

2,220

2,220

Ordinary D

£1

2,220

2,220

9,000

9,000

8.

RESERVES

Revaluation

reserve

£

At 1 July 2017

1,315,864

Deferred tax on revaluation of

investment properties

22,971

At 30 June 2018

1,338,835