Real Property (UK) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06486683 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2021

for

REAL PROPERTY (UK) LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTORS:

P S Million

Ms J Mortimer

REGISTERED OFFICE:

65 Duke Street

Darlington

Co. Durham

DL3 7SD

REGISTERED NUMBER:

06486683 (England and Wales)

ACCOUNTANTS:

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

FIXED ASSETS

Tangible assets

4

8,143

12,034

Investment property

5

406,424

406,424

414,567

418,458

CURRENT ASSETS

Debtors

79,113

69,517

Cash at bank and in hand

12,982

9,180

92,095

78,697

CREDITORS

Amounts falling due within one year

257,821

287,397

NET CURRENT LIABILITIES

(165,726

)

(208,700

)

TOTAL ASSETS LESS CURRENT LIABILITIES

248,841

209,758

CREDITORS

Amounts falling due after more than one year

6

(262,328

)

(222,375

)

PROVISIONS FOR LIABILITIES

(1,472

)

(1,304

)

NET LIABILITIES

(14,959

)

(13,921

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(15,159

)

(14,121

)

SHAREHOLDERS' FUNDS

(14,959

)

(13,921

)

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 March 2022 and were signed on its behalf by:

P S Million - Director

1.	STATUTORY INFORMATION

Real Property (UK) 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.	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.

The financial statements have been prepared on the going concern basis of accounting. At the balance sheet date the company's liabilities exceeded its assets by £14,959. Included within liabilities is an amount of £83,537 owed to the directors of the company. The directors have confirmed that repayment of the loan will not be sought if it proved to be prejudicial to the company.

Turnover

Turnover represents net invoiced rental income, 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.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

33% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2020

and 31 March 2021

15,207

DEPRECIATION

At 1 April 2020

3,173

Charge for year

3,891

At 31 March 2021

7,064

NET BOOK VALUE

At 31 March 2021

8,143

At 31 March 2020

12,034

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

and 31 March 2021

406,424

NET BOOK VALUE

At 31 March 2021

406,424

At 31 March 2020

406,424

Fair value at 31 March 2021 is represented by:

£

Valuation in 2018

50,000

Valuation in 2019

(50,000

)

Cost

406,424

406,424

Investment property was valued on a fair value basis on 31 March 2019 by the Directors .

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/3/21

31/3/20

£

£

Repayable by instalments

Bank loans

186,313

215,165

7.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/21

31/3/20

£

£

Bank loans

274,748

229,249

The bank loans are secured on the properties to which they relate.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Real Property (UK) Limited for the year ended 31 March 2021 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Real Property (UK) Limited, as a body, in accordance with the terms of our engagement letter dated 10 December 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Real Property (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Real Property (UK) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Real Property (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Real Property (UK) Limited. You consider that Real Property (UK) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Real Property (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mitchell Gordon LLP

43 Coniscliffe Road

Darlington

Co. Durham

DL3 7EH

16 March 2022