R & S Properties Retford Limited Filleted accounts for Companies House (small and micro)

R & S PROPERTIES RETFORD LIMITED - Company Information

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R & S Properties Retford Limited

Unaudited financial statements

31 December 2019

Company Registration Number 10484008

R & S Properties Retford Limited

Financial statements

year ended 31 December 2019

Contents	Page

Balance sheet 1

Notes to the financial statements 3

R & S Properties Retford Limited

Balance sheet

31 December 2019

		2018
Note	£		£

Fixed assets

Tangible assets	3		184,319		184,008

Current assets

Cash at bank and in hand	6,486		8,035

Creditors: amounts falling due within one year	4	( 177,006)		( 184,183)
		---------		---------
Net current liabilities			( 170,520)		( 176,148)
			---------		---------
Total assets less current liabilities			13,799		7,860
			--------		-------
Net assets			13,799		7,860
			--------		-------

R & S Properties Retford Limited

Balance sheet (continued)

31 December 2019

		2018
Note	£		£

Capital and reserves

Called up share capital	100	100
Profit and loss account	13,699	7,760
	--------	-------
Shareholders funds	13,799	7,860
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account and director's report have not been delivered.

For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 ;

- The director acknowledges his 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 8 January 2020 , and are signed on behalf of the board by:

Mr S C Sooriah
Director

Company registration number: 10484008

R & S Properties Retford Limited

Notes to the financial statements

year ended 31 December 2019

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

2.1 Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2 Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

2.3 Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

2.4 Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

2.5 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:

	Equipment	-	15% reducing balance

2.6 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.

3. Tangible assets

	Land and buildings	Equipment	Total

Cost
At 1 January 2019	184,008	–	184,008
Additions	–	319	319
	---------	----	---------
At 31 December 2019	184,008	319	184,327
	---------	----	---------
Depreciation
At 1 January 2019	–	–	–
Charge for the year	–	8	8
	---------	----	---------
At 31 December 2019	–	8	8
	---------	----	---------
Carrying amount
At 31 December 2019	184,008	311	184,319
	---------	----	---------
At 31 December 2018	184,008	–	184,008
	---------	----	---------

4. Creditors: amounts falling due within one year

		2018
	£	£

Corporation tax	1,320	1,347
Other creditors	175,686	182,836
	---------	---------
	177,006	184,183
	---------	---------

5. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 92 London Road, Retford, Nottinghamshire, DN22 7DX.