R.B.C. Exports Limited - Accounts to registrar (filleted) - small 18.2
R.B.C. Exports Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2021 |
| for |
| R.B.C. Exports Limited |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2021 |
| Page |
| Company Information | 1 |
| Chartered Certified Accountants' Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| R.B.C. Exports Limited |
| Company Information |
| for the Year Ended 31 October 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| DVS House |
| Suite 1, First Floor |
| 4 Spring Villa Road |
| Edgware |
| Middlesex |
| HA8 7EB |
| Chartered Certified Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| R.B.C. Exports Limited |
| 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 Balance Sheet. 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. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R.B.C. Exports Limited for the year ended 31 October 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
| This report is made solely to the Board of Directors of R.B.C. Exports Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R.B.C. Exports Limited and state those matters that we have agreed to state to the Board of Directors of R.B.C. Exports Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that R.B.C. Exports Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R.B.C. Exports Limited. You consider that R.B.C. Exports Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of R.B.C. Exports Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Certified Accountants |
| DVS House |
| Suite 1, First Floor |
| 4 Spring Villa Road |
| Edgware |
| Middlesex |
| HA8 7EB |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Balance Sheet |
| 31 October 2021 |
| 31.10.21 | 31.10.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | 8 |
| SHAREHOLDERS' FUNDS |
| 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. |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Balance Sheet - continued |
| 31 October 2021 |
| 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 |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2021 |
| 1. | STATUTORY INFORMATION |
| R.B.C. Exports Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income receivable. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Investment properties |
| All investment properties are revalued annually. Any surplus or deficit on revaluation is transferred to the investment revaluation reserve, except that deficits below original cost, which are expected to be permanent, are charged to the profit and loss account. |
| In accordance with Financial Reporting Standard for Smaller Entities, no depreciation is provided in respect of the freehold investment property. This is a departure from Companies Act 2006, which requires all properties to be depreciated. Such properties are not held for consumption, but for investment, and the directors consider that to depreciate them would not give a true and fair view. The directors consider that this policy results in the accounts giving a true and fair view. |
| Taxation |
| Taxation for the year 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 November 2020 |
| and 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2020 |
| Disposals | ( |
) |
| At 31 October 2021 |
| NET BOOK VALUE |
| At 31 October 2021 |
| At 31 October 2020 |
| Fair value at 31 October 2021 is represented by: |
| £ |
| Valuation in 2005 | 394,655 |
| Valuation in 2010 | 150,000 |
| Valuation in 2011 | 150,000 |
| Cost | 105,345 |
| 800,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Cost | 105,345 | 506,849 |
| Investment properties were valued on an open market basis on 31 October 2011 by the directors. . |
| R.B.C. Exports Limited (Registered number: 01557036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2021 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.21 | 31.10.20 |
| £ | £ |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 November 2020 | 1,020,644 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 October 2021 | 1,071,243 |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr G.A.A.E. Boccardo by virtue of his controlling interest in the company. |