Raglan Castle Properties Limited - Accounts to registrar (filleted) - small 18.2
Raglan Castle Properties Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2021 |
for |
Raglan Castle Properties Limited |
Raglan Castle Properties Limited (Registered number: 02835055) |
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Raglan Castle Properties Limited |
Company Information |
for the Year Ended 31 March 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
21 Gold Tops |
Newport |
South Wales |
NP20 4PG |
SOLICITORS: |
Wentwood House |
Langstone Business Village |
Priory Drive |
Newport |
NP18 2HJ |
Raglan Castle Properties Limited (Registered number: 02835055) |
Balance Sheet |
31 March 2021 |
31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Raglan Castle Properties Limited (Registered number: 02835055) |
Balance Sheet - continued |
31 March 2021 |
31.3.21 | 31.3.20 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Fair value reserve | 12 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
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 |
Raglan Castle Properties Limited (Registered number: 02835055) |
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
1. | STATUTORY INFORMATION |
Raglan Castle Properties Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of accounting |
The financial statements have been prepared on the going concern basis as the directors believe that the company will be able to obtain sufficient funding to secure the continued financing of the company's activities for the foreseeable future. |
The significant accounting policies applied in the presentation of these financial statements are set out |
below. These policies have been consistently applied to all periods presented unless otherwise stated. |
Tangible fixed assets |
Plant and machinery etc | - |
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 balance sheet date. |
Raglan Castle Properties Limited (Registered number: 02835055) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
3. | ACCOUNTING POLICIES - continued |
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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2020 |
and 31 March 2021 |
DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
Raglan Castle Properties Limited (Registered number: 02835055) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2020 |
Revaluations | 125,000 |
At 31 March 2021 |
NET BOOK VALUE |
At 31 March 2021 |
At 31 March 2020 |
Fair value at 31 March 2021 is represented by: |
£ |
Valuation in 2011 | 367,947 |
Valuation in 2017 | (100,000 | ) |
Valuation in 2021 | 125,000 |
Cost | 507,053 |
900,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
31.3.21 | 31.3.20 |
£ | £ |
Cost | 507,053 | 507,053 |
The investment property was valued on an open market basis on 31 March 2021 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
Raglan Castle Properties Limited (Registered number: 02835055) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 127,815 | 123,530 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans |
The bank loan and overdraft are secured by a first legal charge dated 10th December 1993, over the freehold property and by a first legal charge, dated 15th February 2000 over the freehold land. |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.21 | 31.3.20 |
value: | £ | £ |
Ordinary | £1 | 334,300 | 334,300 |
Raglan Castle Properties Limited (Registered number: 02835055) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
12. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2020 |
Investment property revaluation | 125,000 |
At 31 March 2021 |
13. | RELATED PARTY DISCLOSURES |
Included within Other Creditors are loans from shareholders as follows: |
Shareholder pledges (directors) £ 8,800 |
Shareholder pledges (other) £ 31,350 |
The loans are repayable on demand and do not attract interest. |
14. | POST BALANCE SHEET EVENTS |
The Directors are in the process of negotiating the sale of 100% of the shares in the Raglan Castle Properties Ltd to a third party. |