Residential Freeholds Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05413818 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2018 TO 30 DECEMBER 2018

FOR

RESIDENTIAL FREEHOLDS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

L C Freilich

SECRETARY:

E Freilich

REGISTERED OFFICE:

5 Sentinel Square

Hendon

London

NW4 2EL

REGISTERED NUMBER:

05413818 (England and Wales)

ACCOUNTANTS:

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

FIXED ASSETS

Investments

4

12,084

12,084

Investment property

5

1,330,630

708,290

1,342,714

720,374

CURRENT ASSETS

Debtors

6

167,575

194,484

Cash at bank

323

9

167,898

194,493

CREDITORS

Amounts falling due within one year

7

(792,384

)

(163,315

)

NET CURRENT (LIABILITIES)/ASSETS

(624,486

)

31,178

TOTAL ASSETS LESS CURRENT LIABILITIES

718,228

751,552

CREDITORS

Amounts falling due after more than one year

8

(174,375

)

(201,584

)

PROVISIONS FOR LIABILITIES

(82,734

)

(82,734

)

NET ASSETS

461,119

467,234

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

345,224

345,224

Retained earnings

11

115,795

121,910

SHAREHOLDERS' FUNDS

461,119

467,234

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

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

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director on 19 December 2019 and were signed by:

L C Freilich - Director

1.	STATUTORY INFORMATION

Residential Freeholds 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.

Turnover

Turnover represents invoiced ground rents on investment properties and insurance commissions.

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 period 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent

Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid

investments with original maturities of three months or less.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 (2017 - 9 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2018

and 30 December 2018

12,084

NET BOOK VALUE

At 30 December 2018

12,084

At 31 December 2017

12,084

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2018

708,290

Additions

622,340

At 30 December 2018

1,330,630

NET BOOK VALUE

At 30 December 2018

1,330,630

At 31 December 2017

708,290

Fair value at 30 December 2018 is represented by:

£

Valuation in 2014

451,098

Cost

879,532

1,330,630

If Investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

272,846

272,846

Investment property was valued on an open market basis on 31 December 2014 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

14,724

2,292

Amounts owed by group undertakings

6,944

6,944

Other debtors

145,907

185,248

167,575

194,484

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

30,471

3,262

Trade creditors

2,006

2,006

Taxation and social security

12,899

12,532

Other creditors

747,008

145,515

792,384

163,315

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

174,375

201,584

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

174,375

174,375

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

204,846

204,846

The bank loans are secured against the investment property's held by the company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2018

121,910

345,224

467,134

Deficit for the period

(6,115

)

(6,115

)

At 30 December 2018

115,795

345,224

461,019

12.	RELATED PARTY DISCLOSURES

Moreland Estate Property Management Limited

A company under common control

The amount is repayable on demand.

2018

2017

£

£

Amount due to related party at the balance sheet date

675,305

108,598

MW Freeholds Limited

A company under common control

The amount is repayable on demand.

2018

2017

£

£

Amount due to related party at the balance sheet date

18,245

18,245

Robshaw South West Ltd

A company under the control of Residential Freeholds Ltd

The amount is repayable on demand.

2018

2017

£

£

Amount due from related party at the balance sheet date

324

324

Edmund Kirby Ltd

A company under common control

The amount is repayable on demand.

2018

2017

£

£

Amount due from related party at the balance sheet date

6,620

6,620

Ground Rent Investment Ltd

A company under common control

The amount is repayable on demand.

2018

2017

£

£

Amount due from related party at the balance sheet date

144,864

144,864

Ground Rent Trading Ltd

A company under common control

The amounts are repayable on demand.

2018

2017

£

£

Amount due (to)/from related party at the balance sheet date

(38,805

)

40,000

13.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Residential Freeholds Limited for the period ended 30 December 2018 which comprise the

Income Statement, Statement of Financial Position and the related notes from the company's accounting records and

from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Residential Freeholds Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Residential Freeholds Limited and state those matters that we have agreed to state to the director of Residential Freeholds Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Residential Freeholds Limited and its director for our work or for this report.

It is your duty to ensure that Residential Freeholds Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Residential Freeholds Limited. You consider that Residential Freeholds Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Residential Freeholds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

The Paris Partnership LLP

Chartered Accountants

Russell House

140 High Street

Edgware

Middlesex

HA8 7LW

19 December 2019