REWD RESI 1 LIMITED - Accounts to registrar (filleted)

REGISTERED NUMBER: SC595501 (Scotland)

Unaudited Financial Statements

For The Year Ended 31 March 2022

for

REWD RESI 1 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

L Duncan

A Robertson

REGISTERED OFFICE:

REWD GROUP HQ

Unit 4 Barons Court

Grangemouth

FK3 8BH

REGISTERED NUMBER:

SC595501 (Scotland)

ACCOUNTANTS:

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

FIXED ASSETS

Investment property

4

75,000

-

CURRENT ASSETS

Stocks

121,768

-

Debtors

5

42,578

153,797

Cash at bank

888

3,013

165,234

156,810

CREDITORS

Amounts falling due within one year

6

290,510

256,035

NET CURRENT LIABILITIES

(125,276

)

(99,225

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,276

)

(99,225

)

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

8

17,176

-

Retained earnings

(67,552

)

(99,325

)

(50,276

)

(99,225

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 22 November 2022 and were signed on its behalf by:

L Duncan - Director

1.	STATUTORY INFORMATION

REWD RESI 1 LIMITED is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

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

Cash and Bank Balances

Cash and bank balances are measured at the transaction price.

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.

Going concern

These accounts have been prepared on the going concern basis, on the understanding that the directors will continue to financially support the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

57,824

Revaluations

17,176

At 31 March 2022

75,000

NET BOOK VALUE

At 31 March 2022

75,000

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

75,000

If following historical cost had not been revalued it would have been included at the following historical cost:

31.3.22

31.3.21

£

Cost

57,824

-

Investment property was valued on an open market basis on 31 January 2022 by Graham + Sibbald .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

Other debtors

42,578

153,797

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

Bank loans and overdrafts

41,625

-

Trade creditors

5,000

910

Other creditors

243,885

255,125

290,510

256,035

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

Bank loans

41,625

-

Other creditors

48,603

-

90,228

-

The bank loan is secured against 42C North Methven Street.

The private investor loan is secured against 188 Oldcroft Place.

8.

RESERVES

Fair

value

reserve

£

Transfer to fair value reserve

17,176

At 31 March 2022

17,176

9.	RELATED PARTY DISCLOSURES

At 31/03/2022 REWD Resi 1 Ltd was owed £2368 by Dunrobb SSAS, a SSAS held in the name of both directors.

At 31/03/2022 REWD Resi 1 Ltd was owed £43,476 by Real Estate Wealth Development Limited. The companies share directors.

At 31/03/2022 REWD Resi 1 Ltd owed £26,031 to REWD Developments Ltd. The companies share directors.

At 31/03/2022 REWD Resi 1 Ltd owed £56,500 to REWD Manors Ltd. The companies share directors.

At 31/03/2022 REWD Resi 1 Ltd owed £10,000 to REWD Training Ltd. The companies share directors.

At 31/03/2022 REWD Resi 1 Ltd owed £11,000 to Real Estate Wealth Development Holdings Ltd. The companies share directors.

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 REWD RESI 1 LIMITED for the year ended 31 March 2022 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of REWD RESI 1 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 REWD RESI 1 LIMITED and state those matters that we have agreed to state to the Board of Directors of REWD RESI 1 LIMITED, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. 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 REWD RESI 1 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 REWD RESI 1 LIMITED. You consider that REWD RESI 1 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 REWD RESI 1 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.

Atkinson Donnelly LLP

1 Cambuslang Court

Cambuslang

Glasgow

Strathclyde

G32 8FH

22 November 2022

REWD RESI 1 LIMITED - Accounts to registrar (filleted) - small 18.2

REWD RESI 1 LIMITED - Accounts to registrar (filleted) - small 18.2