Railings Property Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11959290 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 23 APRIL 2019 TO 31 MARCH 2020

FOR

RAILINGS PROPERTY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

J R Earl-Wright

Mrs H Earl-Wright

REGISTERED OFFICE:

Georgian House

34 Thoroughfare

Halesworth

Suffolk

IP19 8AP

REGISTERED NUMBER:

11959290 (England and Wales)

ACCOUNTANTS:

van Dijk Accountants Limited

Georgian House

34 Thoroughfare

Halesworth

Suffolk

IP19 8AP

FIXED ASSETS

Tangible assets

4

179,150

CURRENT ASSETS

Cash at bank

1,423

CREDITORS

Amounts falling due within one year

5

60,968

NET CURRENT LIABILITIES

(59,545

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,605

CREDITORS

Amounts falling due after more than one year

6

130,419

NET LIABILITIES

(10,814

)

CAPITAL AND RESERVES

Called up share capital

102

Retained earnings

(10,916

)

(10,814

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2020 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 and authorised for issue on 23 November 2020 and were signed on its behalf by:

J R Earl-Wright - Director

Mrs H Earl-Wright - Director

1.	STATUTORY INFORMATION

Railings Property 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.

Turnover

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

Additions

179,150

At 31 March 2020

179,150

NET BOOK VALUE

At 31 March 2020

179,150

Investment property is included at fair value. Gains are recognised in the fair value reserve. Deferred taxation is provided on these gains at current rates.

At the accounting reference date the fair value of the investment properties was estimated at £179,150 by the directors.

Total fair value adjustments shown in the income statement amounted to £0.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Directors' current accounts

60,128

Accrued expenses

840

60,968

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

130,419

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

130,419

7.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

130,419

The bank loan is secured against land and buildings owned by the company.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the period ended 31 March 2020 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

van Dijk Accountants Limited

Georgian House

34 Thoroughfare

Halesworth

Suffolk

IP19 8AP

23 November 2020