Rural Community Housing Limited - Limited company accounts 20.1

REGISTERED NUMBER: 06859217 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

Rural Community Housing ltd

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTORS:

A R Harding

J Harding

R C Harding

SECRETARY:

A R Harding

REGISTERED OFFICE:

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

REGISTERED NUMBER:

06859217 (England and Wales)

ACCOUNTANTS:

Mudd Partners LLP

Chartered Accountants

Lakeview House

4 Woodbrook Crescent

Billericay

Essex

CM12 0EQ

The directors present their report with the financial statements of the company for the year ended 31 March 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2020 to the date of this report.

A R Harding

J Harding

R C Harding

POLITICAL DONATIONS AND EXPENDITURE

During the company expended a total of £2,046 (2019: £1,818) in charitable donations.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

J Harding - Director

1 November 2021

TURNOVER

107,989

108,773

Cost of sales

53,670

47,873

GROSS PROFIT

54,319

60,900

Administrative expenses

27,082

26,680

27,237

34,220

Other operating income

4,750

-

OPERATING PROFIT

31,987

34,220

Interest receivable and similar income

17

31

PROFIT BEFORE TAXATION

32,004

34,251

Tax on profit

4

6,081

6,853

PROFIT FOR THE FINANCIAL YEAR

25,923

27,398

FIXED ASSETS

Investment property

5

1,107,080

1,107,080

CURRENT ASSETS

Stocks

1,867,579

1,818,401

Debtors

6

5,411

4,554

Cash at bank and in hand

142,031

218,160

2,015,021

2,041,115

CREDITORS

Amounts falling due within one year

7

398,036

398,808

NET CURRENT ASSETS

1,616,985

1,642,307

TOTAL ASSETS LESS CURRENT LIABILITIES

2,724,065

2,749,387

CREDITORS

Amounts falling due after more than one year

8

2,593,289

2,644,534

NET ASSETS

130,776

104,853

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

18,103

18,103

Retained earnings

112,573

86,650

SHAREHOLDERS' FUNDS

130,776

104,853

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 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 November 2021 and were signed on its behalf by:

J Harding - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2019

100

59,252

18,103

77,455

Changes in equity

Total comprehensive income

-

27,398

-

27,398

Balance at 31 March 2020

100

86,650

18,103

104,853

Changes in equity

Total comprehensive income

-

25,923

-

25,923

Balance at 31 March 2021

100

112,573

18,103

130,776

1.	STATUTORY INFORMATION

Rural Community Housing ltd 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.

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.

Turnover

Turnover represents the value of sales to customers, net of discounts, allowances, volume and promotional rebates and other payments to customers and excludes VAT. Sale of goods are recognised when the company has delivered product to the customer, the customer has accepted the products and collectability of the related receivable is reasonably assured.

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

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).

4.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.3.21

31.3.20

£

£

Current tax:

UK corporation tax

6,081

6,853

Tax on profit

6,081

6,853

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

1,107,080

NET BOOK VALUE

At 31 March 2021

1,107,080

At 31 March 2020

1,107,080

The directors consider that the valuations, determined by them, represents the fair value of the investment property as at 31 March 2021.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed by associates

5,411

4,554

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Amounts owed to associates

40,600

40,600

Taxation and social security

6,081

6,853

Other creditors

351,355

351,355

398,036

398,808

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

2,593,289

2,644,534

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Fair

value

reserve

£

At 1 April 2020

and 31 March 2021

18,103

11.	RELATED PARTY DISCLOSURES

The following balances are due from / (to) companies with common directors and shareholders. All loans are repayable on demand and interest free.

Detail

2021

2020

(£

)

(£

)

Deben Holdings Limited

(10,000

)

(10,000

)

Leigh Properties Limited

(6,800

)

(4,800

)

Pacmicro Limited

(23,800

)

(23,800

)

Ruskin Landscape Limited

875

875

G-Eco Systems Limited

579

330

Peterhouse Farms Limited

3,614

3,349

Ruskthorpe Limited

343

-

Totals

(35,189

)

(36,046

)