RS Sumal Properties Ltd

RS Sumal Properties Ltd

RS SUMAL PROPERTIES LTD - Company Information

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1 July 2021 false No description of principal activity Taxfiler 2022.11.1 09511685business:PrivateLimitedCompanyLtd2021-07-012022-06-30 095116852021-06-30 095116852021-07-012022-06-30 09511685business:AuditExemptWithAccountantsReport2021-07-012022-06-30 09511685business:FullAccounts2021-07-012022-06-30 095116852022-06-30 095116852021-06-30 09511685core:WithinOneYear2022-06-30 09511685core:WithinOneYear2021-06-30 09511685core:ShareCapital2022-06-30 09511685core:ShareCapital2021-06-30 09511685core:RetainedEarningsAccumulatedLosses2022-06-30 09511685core:RetainedEarningsAccumulatedLosses2021-06-30 09511685business:SmallEntities2021-07-012022-06-30 09511685business:Director12021-07-012022-06-30 09511685countries:EnglandWales2021-07-012022-06-30 09511685business:RegisteredOffice2021-07-012022-06-30 09511685core:FurnitureFittings2021-07-012022-06-30 09511685core:ComputerEquipment2021-07-012022-06-30 09511685core:FurnitureFittings2021-06-30 09511685core:ComputerEquipment2021-06-30 09511685core:FurnitureFittings2022-06-30 09511685core:ComputerEquipment2022-06-30 095116852020-07-012021-06-30 iso4217:GBP xbrli:pure
Company Registration No. 09511685 (England and Wales)
RS Sumal Properties Ltd Unaudited accounts for the year ended 30 June 2022
RS Sumal Properties Ltd Unaudited accounts Contents
Page
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RS Sumal Properties Ltd Statement of financial position as at 30 June 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
113 
150 
Investment property
5
1,112,927 
1,157,882 
1,113,040 
1,158,032 
Current assets
Debtors
6
- 
64 
Cash at bank and in hand
157,062 
46,611 
157,062 
46,675 
Creditors: amounts falling due within one year
7
(924,387)
(925,544)
Net current liabilities
(767,325)
(878,869)
Net assets
345,715 
279,163 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
345,615 
279,063 
Shareholders' funds
345,715 
279,163 
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2022 and were signed on its behalf by
Ranjit Singh Director Company Registration No. 09511685
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RS Sumal Properties Ltd Notes to the Accounts for the year ended 30 June 2022
1
Statutory information
RS Sumal Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 09511685. The registered office is 74 Pix Road, Letchworth Garden City, SG6 1PY .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
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RS Sumal Properties Ltd Notes to the Accounts for the year ended 30 June 2022
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2021
300 
550 
850 
At 30 June 2022
300 
550 
850 
Depreciation
At 1 July 2021
247 
453 
700 
Charge for the year
13 
24 
37 
At 30 June 2022
260 
477 
737 
Net book value
At 30 June 2022
40 
73 
113 
At 30 June 2021
53 
97 
150 
5
Investment property
2022 
£ 
Fair value at 1 July 2021
1,157,882 
Disposals
(44,955)
At 30 June 2022
1,112,927 
The director has given his opinion that there have been no significant changes to the values of the properties.
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
64 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
- 
19,624 
VAT
2,085 
- 
Trade creditors
63 
- 
Taxes and social security
15,630 
9,245 
Other creditors
12,550 
8,350 
Loans from directors
883,046 
877,969 
Accruals
11,013 
10,356 
924,387 
925,544 
8
Transactions with related parties
During the year the directors paid £5,078 (2021: £4,622), for expenses on behalf of the Company. This loan is interest free and repayable on demand. At the balance sheet date the Company owed the director £883,047 (2021: £877,969).
9
Controlling party
During the year the entire share capital was under the control of Mr RS Sumal and close family.
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RS Sumal Properties Ltd Notes to the Accounts for the year ended 30 June 2022
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).
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