Rexmill Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10071186 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

REXMILL PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs E Endzweig

REGISTERED OFFICE:

Side Entrance

121-123 Clapton Common

London

E5 9AB

REGISTERED NUMBER:

10071186 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

5

4,252

5,002

Investment property

6

3,372,687

3,372,687

3,376,939

3,377,689

CURRENT ASSETS

Debtors

7

115,078

37,543

Cash at bank

14,661

49,280

129,739

86,823

CREDITORS

Amounts falling due within one year

8

(1,567,665

)

(1,537,751

)

NET CURRENT LIABILITIES

(1,437,926

)

(1,450,928

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,939,013

1,926,761

CREDITORS

Amounts falling due after more than one year

9

(1,725,222

)

(1,753,270

)

NET ASSETS

213,791

173,491

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

13

213,790

173,490

SHAREHOLDERS' FUNDS

213,791

173,491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 and authorized for issue by the director and authorised for issue on 31 March 2022 and were signed by:

Mrs E Endzweig - Director

1.	STATUTORY INFORMATION

Rexmill Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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 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.

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 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 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

and 31 March 2021

7,064

DEPRECIATION

At 1 April 2020

2,062

Charge for year

750

At 31 March 2021

2,812

NET BOOK VALUE

At 31 March 2021

4,252

At 31 March 2020

5,002

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

3,372,687

NET BOOK VALUE

At 31 March 2021

3,372,687

At 31 March 2020

3,372,687

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other debtors

115,078

37,543

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade creditors

14,779

-

Taxation and social security

9,629

19,021

Other creditors

1,543,257

1,518,730

1,567,665

1,537,751

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans (see note 10)

1,675,222

1,753,270

Other creditors

50,000

-

1,725,222

1,753,270

31.3.21

31.3.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,675,222

1,753,270

Other loans more 5yrs instal

50,000

-

1,725,222

1,753,270

Other creditors include £50,000 received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.21

31.3.20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,675,222

1,753,270

Other loans more 5yrs instal

50,000

-

1,725,222

1,753,270

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

1,675,222

1,753,270

Bank loan is secured by first charge over investment properties of the company.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

1

Ordinary

£1

1

1

13.

RESERVES

Retained

earnings

£

At 1 April 2020

173,490

Profit for the year

40,300

At 31 March 2021

213,790

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs E Endzweig.