Company Registration No. 10256730 (England and Wales)
Rescap Investments Ltd
Filleted accounts
for the year ended 30 June 2019
Rescap Investments Ltd
Filleted accounts
Contents
Rescap Investments Ltd
Company Information
for the year ended 30 June 2019
Director
William Durrell McKenna
Company Number
10256730 (England and Wales)
Registered Office
38 Sheffield Terrace
London
W8 7NA
Accountants
YP Finance
Hawthorne House
17A Hawthorne Drive
Leicester
Leicestershire
LE5 6DL
Rescap Investments Ltd
Statement of financial position
as at 30 June 2019
Inventories
265,379
467,052
Cash at bank and in hand
13,640
168,690
Creditors: amounts falling due within one year
(14,142)
(480)
Net current assets
433,202
635,278
Total assets less current liabilities
433,202
635,278
Creditors: amounts falling due after more than one year
(386,340)
(665,737)
Net assets/(liabilities)
46,862
(30,459)
Called up share capital
100
100
Profit and loss account
46,762
(30,559)
Shareholders' funds
46,862
(30,459)
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 June 2020 and were signed on its behalf by
William Durrell McKenna
Director
Company Registration No. 10256730
Rescap Investments Ltd
Notes to the Accounts
for the year ended 30 June 2019
Rescap Investments Ltd is a private company, limited by shares, registered in England and Wales, registration number 10256730. The registered office is 38 Sheffield Terrace, London, W8 7NA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Work in progress
265,379
467,052
Rescap Investments Ltd
Notes to the Accounts
for the year ended 30 June 2019
Amounts due from group undertakings etc.
167,500
-
Accrued income and prepayments
825
-
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
10,969
-
7
Creditors: amounts falling due after more than one year
2019
2018
Bank loans
184,616
514,000
Amounts owed to group undertakings and other participating interests
201,724
151,737
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
During the year Rescap Investments had the following balances outstanding to and from related parties where the Director, William Durrell McKenna is an Office Holder and/or a controlling shareholder.
Amounts due from:
Luxgrove Investments Ltd - £1,724 (2018 - £1,737)
ResCap Partners Ltd - £200,000 (2018 - £150,000)
Amounts due to:
ER183 LLP - £167,500 (2018 - Nil)
10
Average number of employees
During the year the average number of employees was 1 (2018: 1).
