Residential Freeholds Limited - Accounts to registrar (filleted) - small 22.3
Residential Freeholds Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| FOR |
| RESIDENTIAL FREEHOLDS LIMITED |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| RESIDENTIAL FREEHOLDS LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Russell House |
| 140 High Street |
| Edgware |
| Middlesex |
| HA8 7LW |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| STATEMENT OF FINANCIAL POSITION |
| 30 DECEMBER 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Fair value reserve | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| 1. | STATUTORY INFORMATION |
| Residential Freeholds Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents invoiced ground rents on investment properties and insurance commissions. |
| 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. |
| Taxation |
| Taxation for the period 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Cash and cash equivalent |
| Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2020 - |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 January 2021 |
| and 30 December 2021 |
| NET BOOK VALUE |
| At 30 December 2021 |
| At 31 December 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2021 |
| Additions |
| At 30 December 2021 |
| NET BOOK VALUE |
| At 30 December 2021 |
| At 31 December 2020 |
| Fair value at 30 December 2021 is represented by: |
| £ |
| Valuation in 2020 | 2,783,724 |
| Valuation in 2021 | 11,136 |
| 2,794,860 |
| Investment property was valued on an open market basis on 31 December 2021 by the director . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 January 2021 | 352,738 |
| Profit for the period |
| Dividends | ( |
) | ( |
) |
| At 30 December 2021 | 381,715 |
| 10. | CONTINGENT LIABILITIES |
| The company joined a "VAT Group" during the year and as such is jointly and severally liable for the VAT liabilities of the whole group. |
| 11. | RELATED PARTY DISCLOSURES |
| MP Group Services Ltd |
| A company under common control |
| This amount is payable on demand. |
| 2021 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 1,534,610 | 1,671,202 |
| Moreland Property Group Ltd |
| The parent company |
| This amount is payable on demand. |
| 2021 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 1,612,980 | 1,516,480 |
| Freehold Reversions 4 Ltd |
| A company under common control |
| This amount is payable on demand. |
| 2021 | 2020 |
| £ | £ |
| Amount due from related party at the balance sheet date | 771,888 | 771,889 |
| RESIDENTIAL FREEHOLDS LIMITED (REGISTERED NUMBER: 05413818) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 JANUARY 2021 TO 30 DECEMBER 2021 |
| 11. | RELATED PARTY DISCLOSURES - continued |
| L C Freilich |
| Director |
| 2021 | 2020 |
| £ | £ |
| Amount due from related party at the balance sheet date | - | 3,500 |
| Reelstone Properties Holdings Ltd |
| A company under common control |
| 2021 | 2020 |
| £ | £ |
| Amount due to related party at the balance sheet date | 12,500 | - |
| 12. | ULTIMATE CONTROLLING PARENT |
| The controlling party is Moreland Property Group Ltd. |