RS Residential Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11902428 (England and Wales)

RS Residential Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2021

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

V Sharma

Registered office:

Unit 3b Wentworth House

Maple Court

Tankersley

Barnsley

South Yorkshire

S75 3DP

Registered number:

11902428 (England and Wales)

Accountants:

Warr & Co Limited

Chartered Accountants

Mynshull House

78 Churchgate

Stockport

Cheshire

SK1 1YJ

Fixed assets

Investment property

4

1,390,000

1,063,416

Current assets

Debtors

5

257,115

158,997

Cash at bank

4,260

5,347

261,375

164,344

Creditors

Amounts falling due within one year

6

(827,036

)

(655,668

)

Net current liabilities

(565,661

)

(491,324

)

Total assets less current liabilities

824,339

572,092

Creditors

Amounts falling due after more than one year

7

(701,439

)

(582,956

)

Provisions for liabilities

9

(34,062

)

-

Net assets/(liabilities)

88,838

(10,864

)

Capital and reserves

Called up share capital

10

100

100

Fair value reserve

11

145,214

-

Retained earnings

(56,476

)

(10,964

)

Shareholders' funds

88,838

(10,864

)

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 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.

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 director and authorised for issue on 10 September 2021 and were signed by:

V Sharma - Director

1.	Statutory information

RS Residential 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 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.

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.

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 1 (2020 - 1 ) .

4.	Investment property

Total

£

Fair value

At 1 April 2020

1,063,416

Additions

147,308

Valuation changes

179,276

At 31 March 2021

1,390,000

Net book value

At 31 March 2021

1,390,000

At 31 March 2020

1,063,416

Fair value at 31 March 2021 is represented by:

£

Valuation in 2021

1,390,000

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

31.3.21

31.3.20

£

£

Cost

1,210,724

1,063,416

Investment property was valued on an open market basis on 31 March 2021 by the director .

5.

Debtors: amounts falling due within one year

31.3.21

31.3.20

£

£

PT RS Bali International Real

249,519

156,401

RS Prestige Cars Ltd

1,500

1,500

DK Commercial Property ltd

5,000

-

Damage deposit account

1,096

1,096

257,115

158,997

6.

Creditors: amounts falling due within one year

31.3.21

31.3.20

£

£

Bank loans and overdrafts

11,012

16,464

JMP Leeds & Liverpool

125,000

125,000

RS Group Companies Ltd Loan

350,000

15,000

DPRS Liverpool

15,000

15,000

South Yorkshire PI Loan

150,000

35,000

RSGD Leicester ltd

5,000

5,000

RS Commercial Ltd Loan

25,000

-

Directors' current accounts

144,073

442,833

Accrued expenses

1,951

1,371

827,036

655,668

7.

Creditors: amounts falling due after more than one year

31.3.21

31.3.20

£

£

Bank loans - 2-5 years

701,439

582,956

8.	Secured debts

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

712,451

599,420

9.	Provisions for liabilities

31.3.21

31.3.20

£

£

Deferred tax

34,062

-

Deferred

tax

£

Provided during year

34,062

Balance at 31 March 2021

34,062

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

100

Ordinary

£1

100

100

11.

Reserves

Fair

value

reserve

£

Transfer from retained earnings

145,214

At 31 March 2021

145,214