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

REGISTERED NUMBER: 05817751 (England and Wales)

RPH Properties Limited

Financial Statements

for the Year Ended 31 May 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R P Hodson

Mr R W Ibbotson

SECRETARY:

Mr R P Hodson

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

05817751 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

250,000

400,000

250,000

400,000

CURRENT ASSETS

Debtors

6

1,879

62,000

Cash at bank

8,723

659

10,602

62,659

CREDITORS

Amounts falling due within one year

7

140,498

135,711

NET CURRENT LIABILITIES

(129,896

)

(73,052

)

TOTAL ASSETS LESS CURRENT LIABILITIES

120,104

326,948

CREDITORS

Amounts falling due after more than one year

8

-

(45,988

)

PROVISIONS FOR LIABILITIES

-

(27,940

)

NET ASSETS

120,104

253,020

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

120,004

252,920

SHAREHOLDERS' FUNDS

120,104

253,020

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 Board of Directors and authorised for issue on 30 November 2021 and were signed on its behalf by:

Mr R P Hodson - Director

1.	STATUTORY INFORMATION

RPH 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 company's business address is Manor Farm House, 75 George Lane, Notton, Wakefield WF4 2NQ.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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.

Going concern - Coronavirus Pandemic

The directors have considered the risks and uncertainties arising from the coronavirus pandemic which began to take effect on a global scale from February 2020 onwards. The company's portfolio of investment properties are all connected to the hospitality sector and consequently the company hasn't received any trading income during this accounting period and is therefore dependent on the continued support of the directors and shareholders. Whilst the ultimate outcome of the coronavirus pandemic is beyond any normal range of predictability, the directors believe that whilst ever this support continues the company should be able to operate within the level of its financial facilities. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis in preparing these financial statements.

Turnover

Turnover represents rents receivable, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Fixed assets are initially recorded at cost.

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.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2020

and 31 May 2021

13,224

DEPRECIATION

At 1 June 2020

and 31 May 2021

13,224

NET BOOK VALUE

At 31 May 2021

-

At 31 May 2020

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2020

400,000

Additions

1,080

Revaluations

(151,080

)

At 31 May 2021

250,000

NET BOOK VALUE

At 31 May 2021

250,000

At 31 May 2020

400,000

The investment property has been stated at its fair value as determined by the directors.

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Prepayments and accrued income

1,879

-

Amounts falling due after more than one year:

Other debtors

-

62,000

Aggregate amounts

1,879

62,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

32,545

Tax

-

2,347

Other creditors

-

64,000

Directors' current accounts

139,225

29,225

Accruals and deferred income

1,273

7,594

140,498

135,711

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - More then 1 Year

-

45,988

9.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

-

78,533

The bank borrowings are secured by way of a fixed and floating charge over the company and all property and assets, present and future.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Included within retained earnings is £nil (2020: £114,407) which is non-distributable as it is in respect of the cumulative fair value gains on the investment properties of the company.