ACCOUNTS - Final Accounts preparation

REMI ESTATES 2020 LIMITED - Company Information

Registered number: 12326056

REMI ESTATES 2020 LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD FROM 21 NOVEMBER 2019 TO 31 MARCH 2020


REMI ESTATES 2020 LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 4


REMI ESTATES 2020 LIMITED REGISTERED NUMBER:12326056

BALANCE SHEET

AS AT 31 MARCH 2020

		2020
Note		£

Fixed assets
Investments	4		2,900,962
			2,900,962
Current assets
Cash at bank and in hand	5	1
		1
Creditors: amounts falling due within one year	6	(522,120)
Net current (liabilities)/assets			(522,119)
Total assets less current liabilities			2,378,843

Net assets			2,378,843

Capital and reserves
Called up share capital	7	450,001
Profit and loss account		1,928,842
		2,378,843

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

A J Goldin

Director

Date: 30 March 2021

The notes on pages 2 to 4 form part of these financial statements.


REMI ESTATES 2020 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

1.	General information

Remi Estates 2020 Limited is a private company, limited by shares, registered in England and Wales, registration number 12326056. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
The principal activity of the company is provision of real estate agency services.
The company was incorporated on 21 November 2019 and has not commenced trading.
During the period, the company shortened its accounting reference date from 30 November 2020 to 31 March 2020.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

2.2

Going concern

The director is assessing, on a daily basis, the impact of the significant uncertainty arising from the COVID-19 virus. Whilst the director appreciates there is a significant uncertainty surrounding the future economic climate, the company is well placed to address these impacts. The director is satisfied that the company will be able to satisfy its financial obligations for at least 12 months from the date of signature of the financial statements, which have been prepared on the going concern basis.

2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


REMI ESTATES 2020 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the period was 1.

4.	Fixed asset investments

		Investments in subsidiary company
		£
	Cost or valuation
	Additions	2,900,962
	At 31 March 2020	2,900,962

Subsidiary undertaking
The following was a subsidiary undertaking of the company:
Name	Registered office	Principal activity	Class of shares	Holding

Alan Goldin Estates Limited

United Kingdom

Real estate agency services

Ordinary

100%

On 6 March 2020, the company acquired 100% shares in Alan Goldin Estates Limited.

5.	Cash and cash equivalents
		2020
		£

	Cash at bank and in hand	1


REMI ESTATES 2020 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2020

6.	Creditors: Amounts falling due within one year
		2020
		£

	Other creditors	514,440
	Accruals	7,680
		522,120

7.	Share capital
		2020
		£

		Allotted, called up and fully paid

		1 Ordinary share of £1.00	1
		450,000 Preference shares of £1.00 each	450,000

			450,001

1 ordinary share of £1 was issued on incorporation on 21 November 2019 at a nominal value of £1.
On 10 March 2020, 450,000 redeemable preference shares were issued at an average share price of £1 with an aggregate nominal value of £450,000.

8.	Related party transactions
	No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35, as the company is itself a parent of Alan Goldin Estates Limited.