RMS Property Management Limited - Accounts to registrar (filleted) - small 18.2

RMS Property Management Limited - Accounts to registrar (filleted) - small 18.2

RMS PROPERTY MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 07523943 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2019

FOR

RMS PROPERTY MANAGEMENT LIMITED
The Carley Partnership
St James's House
8 Overcliffe
Gravesend
Kent
DA11 0HJ








RMS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 07523943)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RMS PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2019







DIRECTORS: S A Mahmood
S F Ramos





SECRETARY: S A Mahmood





REGISTERED OFFICE: Queens Court
9-17 Eastern Road
Romford
RM1 3NH





REGISTERED NUMBER: 07523943 (England and Wales)





ACCOUNTANTS: The Carley Partnership
St James's House
8 Overcliffe
Gravesend
Kent
DA11 0HJ
Page 1
RMS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 07523943)

BALANCE SHEET
28 FEBRUARY 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 69,400 104,100
Tangible assets 5 3,528 16,092
72,928 120,192

CURRENT ASSETS
Debtors 6 674,892 540,486
Cash at bank and in hand 19,413 60,367
694,305 600,853
CREDITORS
Amounts falling due within one year 7 1,300,282 1,173,074
NET CURRENT LIABILITIES (605,977 ) (572,221 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(533,049
)
(452,029
)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (533,149 ) (452,129 )
SHAREHOLDERS' FUNDS (533,049 ) (452,029 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2019 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 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 Board of Directors on 6 February 2020 and were signed on its behalf by:





S A Mahmood - Director


The notes form part of these financial statements

Page 2
RMS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 07523943)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2019


1. STATUTORY INFORMATION

RMS Property Management 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 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.

The company meets its day to day working capital requirements with the assistance of the directors by way of
their loan accounts. The directors have indicated that they will not be withdrawing money from their loan
accounts until such time as the company becomes solvent.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 5 years

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 7 ) .

Page 3 continued...
RMS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 07523943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2019


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2018
and 28 February 2019 347,000
AMORTISATION
At 1 March 2018 242,900
Charge for year 34,700
At 28 February 2019 277,600
NET BOOK VALUE
At 28 February 2019 69,400
At 28 February 2018 104,100

5. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 March 2018 373,220
Disposals (14,400 )
At 28 February 2019 358,820
DEPRECIATION
At 1 March 2018 357,128
Charge for year 12,564
Eliminated on disposal (14,400 )
At 28 February 2019 355,292
NET BOOK VALUE
At 28 February 2019 3,528
At 28 February 2018 16,092

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Trade debtors 32,255 73,391
Other debtors 642,637 467,095
674,892 540,486

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£    £   
Bank loans and overdrafts 937 -
Trade creditors 46,285 -
Taxation and social security 99,512 90,034
Other creditors 1,153,548 1,083,040
1,300,282 1,173,074

Page 4 continued...
RMS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 07523943)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2019


8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2019 2018
value: £    £   
100 Ordinary 1 100 100

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £357,000 (2018 : £561,000 )
in respect of land and buildings.

Page 5