Rada Property One Limited - Accounts to registrar (filleted) - small 22.3

Rada Property One Limited - Accounts to registrar (filleted) - small 22.3

RADA PROPERTY ONE LIMITED - Company Information

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REGISTERED NUMBER: 12157635 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2022

for

RADA PROPERTY ONE LIMITED
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)






Contents of the Financial Statements
for the Year Ended 31 August 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

RADA PROPERTY ONE LIMITED

Company Information
for the Year Ended 31 August 2022







DIRECTORS: D J Kitchen
R V Kitchen





REGISTERED OFFICE: Razorblue House
Battalion Court
Colburn Business Park
Catterick Garrison
DL9 4QN





REGISTERED NUMBER: 12157635 (England and Wales)





ACCOUNTANTS: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH
Page 1
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)

Abridged Balance Sheet
31 August 2022

31/8/22 31/8/21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 355,000 353,000

CURRENT ASSETS
Debtors - 547
Cash at bank and in hand 32,232 17,189
32,232 17,736
CREDITORS
Amounts falling due within one year 14,745 8,578
NET CURRENT ASSETS 17,487 9,158
TOTAL ASSETS LESS CURRENT
LIABILITIES
372,487
362,158

CREDITORS
Amounts falling due after more than one
year
(251,104
)
(249,094
)

PROVISIONS FOR LIABILITIES (4,040 ) (3,660 )
NET ASSETS 117,343 109,404

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Share premium 63,586 63,586
Revaluation reserve 6 27,170 25,550
Retained earnings 25,586 19,267
117,343 109,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 notes form part of these financial statements

Page 2 continued...
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)

Abridged Balance Sheet - continued
31 August 2022


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 August 2022 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 24 February 2023 and were signed on its behalf by:





D J Kitchen - Director


The notes form part of these financial statements

Page 3
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)

Notes to the Financial Statements
for the Year Ended 31 August 2022

1. STATUTORY INFORMATION

Rada Property One 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 under the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

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 2 (2021 - 2 ) .

Page 4 continued...
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021 363,337
Revaluations (8,337 )
At 31 August 2022 355,000
DEPRECIATION
At 1 September 2021 10,337
Revaluation adjustments (10,337 )
At 31 August 2022 -
NET BOOK VALUE
At 31 August 2022 355,000
At 31 August 2021 353,000

Fair value at 31 August 2022 is represented by:
£   
Valuation in 2020 16,265
Valuation in 2021 3,000
Valuation in 2022 2,000
Cost 333,735
355,000

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

31/8/22 31/8/21
£    £   
Cost 333,735 333,735
Aggregate depreciation (10,011 ) (10,011 )

Investment property was valued on an open market basis on 31 August 2022 by the directors .

5. SECURED DEBTS

The following secured debts are included within creditors:

31/8/22 31/8/21
£    £   
Loans - 249,094

Page 5 continued...
RADA PROPERTY ONE LIMITED (REGISTERED NUMBER: 12157635)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2022

6. RESERVES
Revaluation
reserve
£   
At 1 September 2021 25,550
Transfer 1,620

At 31 August 2022 27,170

Page 6
Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Rada Property One Limited

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 Rada Property One Limited for the year ended 31 August 2022 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 Rada Property One Limited, as a body, in accordance with the terms of our engagement letter dated 24 September 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Rada Property One Limited and state those matters that we have agreed to state to the Board of Directors of Rada Property One 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 Rada Property One 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 profit of Rada Property One Limited. You consider that Rada Property One 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 Rada Property One 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


24 February 2023

This page does not form part of the statutory financial statements

Page 7