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

REGISTERED NUMBER: 03675106 (England and Wales)

RTR (PROPERTIES) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

C.J. Rate

Mrs C.A.M. Rate

REGISTERED OFFICE:

Rates Ford

Hogg Lane

Grays

Essex

RM17 5QL

REGISTERED NUMBER:

03675106 (England and Wales)

AUDITORS:

Bland Baker

Chartered Accountants and

Registered Auditor

21 Lodge Lane

Grays

Essex

RM17 5RY

FIXED ASSETS

Investment property

3

1,250,000

1,250,000

CURRENT ASSETS

Debtors

4

15,701

520

Cash at bank

20,511

40,030

36,212

40,550

CREDITORS

Amounts falling due within one year

5

35,734

39,566

NET CURRENT ASSETS

478

984

TOTAL ASSETS LESS CURRENT LIABILITIES

1,250,478

1,250,984

PROVISIONS FOR LIABILITIES

225,340

225,340

NET ASSETS

1,025,138

1,025,644

CAPITAL AND RESERVES

Called up share capital

6,666

6,666

Share premium - non distributable

1,593,434

1,593,434

Fair value reserve - non distributable

(575,340

)

(575,340

)

Retained earnings

378

884

SHAREHOLDERS' FUNDS

1,025,138

1,025,644

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.

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

The financial statements were approved by the Board of Directors on 30 May 2019 and were signed on its behalf by:

C.J. Rate - Director

1.	STATUTORY INFORMATION

RTR (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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property

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 statement of financial position date.

Deferred tax

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

the statement of financial position 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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

and 31 December 2018

1,250,000

NET BOOK VALUE

At 31 December 2018

1,250,000

At 31 December 2017

1,250,000

Fair value at 31 December 2018 is represented by:

£

Valuation in 1999

680,000

Valuation in 2014

500,000

Valuation in 2015

400,000

Valuation in 2017

(350,000

)

Cost

20,000

1,250,000

If the investment property had not been revalued it would have been included at the following

historical cost:

2018

2017

£

£

Cost

20,000

20,000

Aggregate depreciation

(14,000

)

(13,600

)

The investment property was valued on an open market basis on 26 September 2017 by Kemsley LLP

.

The valuation methodology included the capitalisation of the rental value at an appropriate yield

together with judgement of the valuer in respect of comparable properties.

The directors are of the opinion that valuation continues to apply at the balance sheet date and

therefore the carrying value of investment property is fairly stated.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

15,701

520

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

14,900

15,120

Other creditors

20,834

24,446

35,734

39,566

6.	SECURED DEBTS

National Westminster Bank Plc have a fixed charge over the freehold property of the company.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

D.M. Baker (Senior Statutory Auditor)

for and on behalf of Bland Baker

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018

and 31 December 2017:

2018

2017

£

£

C.J. Rate and Mrs C.A.M. Rate

Balance outstanding at start of year

(913

)

-

Amounts advanced

40,214

94,322

Amounts repaid

(24,120

)

(95,235

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,181

(913

)

The loan in unsecured, interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C.J. Rate.