RSA Developments Limited Filleted accounts for Companies House (small and micro)

RSA DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 12431203

RSA Developments Limited

Filleted Unaudited Financial Statements

31 January 2021

RSA Developments Limited

Statement of Financial Position

31 January 2021

	2021
Note	£

Fixed assets

Tangible assets	4	730,000

Current assets

Debtors	5	29,145
Cash at bank and in hand		100
		---------
		29,245

Creditors: amounts falling due within one year	6	317,048
		---------
Net current liabilities		287,803
		---------
Total assets less current liabilities		442,197

Creditors: amounts falling due after more than one year	7	455,000
		---------
Net liabilities		( 12,803)
		---------

Capital and reserves

Called up share capital	100
Profit and loss account	( 12,903)
	---------
Shareholders deficit	( 12,803)
	---------

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 Section 1A of 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 statement of comprehensive income has not been delivered.

For the period ending 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

RSA Developments Limited

Statement of Financial Position (continued)

31 January 2021

These financial statements were approved by the board of directors and authorised for issue on 14 June 2022 , and are signed on behalf of the board by:

Mr R Dale

Director

Company registration number: 12431203

RSA Developments Limited

Notes to the Financial Statements

Period ended 31 January 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Waterloo Road, Wolverhampton, WV1 4DJ.

2. Statement of compliance

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

3. Accounting policies

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.

Revenue recognition

Turnover represents the interest on the loan recharged during the period.

Tangible assets

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 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 February 2020	–
Additions	730,000
	---------
At 31 January 2021	730,000
	---------
Depreciation
At 1 February 2020 and 31 January 2021	–
	---------
Carrying amount
At 31 January 2021	730,000
	---------

5. Debtors

	2021
	£
Other debtors	29,145
	---------

6. Creditors: amounts falling due within one year

	2021
	£
Accruals and deferred income	1,200
Amounts owed to related parties	315,848
	---------
	317,048
	---------

7. Creditors: amounts falling due after more than one year

	2021
	£
Loans	455,000
	---------

8. Related party transactions

The company was under the control of the directors for the current period. At the period end, the company owed the following amounts to the companies who together own 100% of the issued share capital of the company. The outstanding amounts relate to loans and various expenses paid on behalf of the company: Hornglen Ltd £304,145 3R Capital Ltd £11,703 The company has taken advantage of the related party disclosure exemption in respect of transactions entered into between members of the group.