R & R Properties (Essex) Limited Filleted accounts for Companies House (small and micro)
R & R Properties (Essex) Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08690253
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STATEMENT OF FINANCIAL POSITION |
2018 |
2017 |
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Note |
£ |
£ |
£ |
FIXED ASSETS
Investments |
6 |
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CURRENT ASSETS
Debtors |
7 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
8 |
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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 |
9 |
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PROVISIONS
Taxation including deferred tax |
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NET ASSETS |
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STATEMENT OF FINANCIAL POSITION (continued) |
2018 |
2017 |
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Note |
£ |
£ |
£ |
CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
4 April 2019
, and are signed on behalf of the board by:
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Director |
Company registration number:
08690253
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 30 SEPTEMBER 2018
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
STATEMENT OF COMPLIANCE
3.
ACCOUNTING POLICIES
Basis of preparation
Investment properties
No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015). Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market value at the balance sheet date.
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
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings |
- |
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Equipment |
- |
25% straight line |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
4.
TAX ON PROFIT
Major components of tax expense
2018 |
2017 |
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£ |
£ |
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Deferred tax:
Origination and reversal of timing differences |
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Tax on profit |
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5.
TANGIBLE ASSETS
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 October 2017 and 30 September 2018 |
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2,500 |
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Depreciation |
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At 1 October 2017 and 30 September 2018 |
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2,500 |
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-------- |
-------- |
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Carrying amount |
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At 30 September 2018 |
– |
– |
– |
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At 30 September 2017 |
– |
– |
– |
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6.
INVESTMENTS
Investment properties |
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£ |
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Cost |
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At 1 October 2017 |
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Additions |
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Fair value movement |
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At 30 September 2018 |
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Impairment |
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At 1 October 2017 and 30 September 2018 |
– |
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Carrying amount |
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At 30 September 2018 |
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At 30 September 2017 |
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7.
DEBTORS
2018 |
2017 |
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£ |
£ |
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Other debtors |
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8.
CREDITORS:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Trade creditors |
– |
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Other creditors |
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9.
CREDITORS:
amounts falling due after more than one year
2018 |
2017 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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10.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the director did not enter into any advances, credits or guarantees with the company.