Company Registration No. 09511685 (England and Wales)
RS Sumal Properties Ltd
Unaudited accounts
for the year ended 30 June 2023
RS Sumal Properties Ltd
Unaudited accounts
Contents
RS Sumal Properties Ltd
Statement of financial position
as at 30 June 2023
Investment property
1,112,927
1,112,927
Cash at bank and in hand
173,068
157,062
Creditors: amounts falling due within one year
(903,921)
(924,387)
Net current liabilities
(710,677)
(767,325)
Net assets
402,250
345,715
Called up share capital
100
100
Profit and loss account
402,150
345,615
Shareholders' funds
402,250
345,715
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 March 2024 and were signed on its behalf by
Ranjit Singh
Director
Company Registration No. 09511685
RS Sumal Properties Ltd
Notes to the Accounts
for the year ended 30 June 2023
RS Sumal Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 09511685. The registered office is 74 Pix Road, Letchworth Garden City, SG6 1PY .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance basis
Computer equipment
25% reducing balance basis
RS Sumal Properties Ltd
Notes to the Accounts
for the year ended 30 June 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2022
300
550
850
At 30 June 2023
300
550
850
At 1 July 2022
260
477
737
Charge for the year
40
73
113
At 30 June 2023
300
550
850
Fair value at 1 July 2022
1,112,927
The director has given his opinion that there have been no significant changes to the values of the properties.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
14,379
15,630
Other creditors
8,350
12,550
Loans from directors
867,610
883,046
During the year the entire share capital was under the control of Mr RS Sumal and close family.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).
