R & R Properties (Essex) Limited Filleted accounts for Companies House (small and micro)
R & R Properties (Essex) Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08690253
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FINANCIAL STATEMENTS |
YEAR ENDED 30 SEPTEMBER 2020
CONTENTS |
PAGE |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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STATEMENT OF FINANCIAL POSITION |
2020 |
2019 |
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Note |
£ |
£ |
FIXED ASSETS
Investments |
5 |
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CURRENT ASSETS
Debtors |
6 |
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Cash at bank and in hand |
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CREDITORS: amounts falling due within one year |
7 |
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NET CURRENT LIABILITIES |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: amounts falling due after more than one year |
8 |
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PROVISIONS |
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NET ASSETS |
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STATEMENT OF FINANCIAL POSITION (continued) |
2020 |
2019 |
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Note |
£ |
£ |
CAPITAL AND RESERVES
Called up share capital |
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Profit and loss account |
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SHAREHOLDERS FUNDS |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
11 May 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
08690253
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NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 30 SEPTEMBER 2020
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Onega House, 112 Main Road, Sidcup, Kent, DA14 6NE, United Kingdom.
2.
ACCOUNTING POLICIES
Basis of preparation
Investment properties
No depreciation is provided for in respect of investment properties in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2015). Such properties are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all properties to be depreciated and the directors consider that to depreciate them would not enable the financial statements to give a true and fair view. Investment properties are stated at their market value at the balance sheet date.
Judgements and key sources of estimation uncertainty
Revenue recognition
Taxation
Tangible assets
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:
Fixtures and Fittings |
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Equipment |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
Provisions
Financial instruments
3.
TAX ON PROFIT/(LOSS)
Major components of tax expense/(income)
2020 |
2019 |
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£ |
£ |
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Current tax:
UK current tax expense |
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Deferred tax:
Origination and reversal of timing differences |
– |
(
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Tax on profit/(loss) |
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(
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4.
TANGIBLE ASSETS
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 October 2019 and 30 September 2020 |
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Depreciation |
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At 1 October 2019 and 30 September 2020 |
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Carrying amount |
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At 30 September 2020 |
– |
– |
– |
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At 30 September 2019 |
– |
– |
– |
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5.
INVESTMENTS
Investment properties |
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£ |
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Cost |
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At 1 October 2019 and 30 September 2020 |
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Impairment |
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At 1 October 2019 and 30 September 2020 |
– |
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Carrying amount |
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At 30 September 2020 |
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At 30 September 2019 |
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6.
DEBTORS
2020 |
2019 |
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£ |
£ |
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Other debtors |
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7.
CREDITORS:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Trade creditors |
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– |
Corporation tax |
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Other creditors |
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8.
CREDITORS:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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9.
DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2020 |
2019 |
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£ |
£ |
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Included in provisions |
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10.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the director did not enter into any advances, credits or guarantees with the company.