RMR Limited Company Accounts

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COMPANY REGISTRATION NUMBER: 04826171

RMR Limited

Filleted Unaudited Financial Statements

31 July 2017

RMR Limited

Financial Statements

Year ended 31 July 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

RMR Limited

Statement of Financial Position

31 July 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5	1,451	2,176
Investments	6	171,960	160,220
		-----------	-----------
		173,411	162,396

Current assets

Debtors	7	520,925	634,967
Cash at bank and in hand		4,036,505	3,769,089
		---------------	---------------
		4,557,430	4,404,056

Creditors: amounts falling due within one year	8	290,134		402,281
		---------------		---------------
Net current assets			4,267,296	4,001,775
			---------------	---------------
Total assets less current liabilities			4,440,707	4,164,171

Provisions

Taxation including deferred tax	3,576	1,626
	---------------	---------------
Net assets	4,437,131	4,162,545
	---------------	---------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	4,437,031	4,162,445
	---------------	---------------
Members funds	4,437,131	4,162,545
	---------------	---------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

RMR Limited

Statement of Financial Position (continued)

31 July 2017

For the year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 March 2018 , and are signed on behalf of the board by:

Dr R Jacobson
Director

Company registration number: 04826171

RMR Limited

Notes to the Financial Statements

Year ended 31 July 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Manor Way, Beckenham, Kent, BR3 3LJ.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, "The Financial Reporting Standard applicable in the UK and the Republic of Ireland", taking advantage of the disclosure exemptions available to small entities in Section 1A of the Standard.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

No cash flow statement has been presented for the company.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 August 2016 and 31 July 2017	2,901	2,901
	--------	--------
Depreciation
At 1 August 2016	725	725
Charge for the year	725	725
	--------	--------
At 31 July 2017	1,450	1,450
	--------	--------
Carrying amount
At 31 July 2017	1,451	1,451
	--------	--------
At 31 July 2016	2,176	2,176
	--------	--------

6. Investments

	Quoted investments
	£
Cost
At 1 August 2016	160,220
Revaluations	11,740
	-----------
At 31 July 2017	171,960
	-----------
Impairment
At 1 August 2016 and 31 July 2017	–
	-----------

Carrying amount
At 31 July 2017	171,960
	-----------
At 31 July 2016	160,220
	-----------

7. Debtors

	2017	2016
	£	£
Trade debtors	517,292	631,350
Other debtors	3,633	3,617
	-----------	-----------
	520,925	634,967
	-----------	-----------

8. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	62,675	119,481
Social security and other taxes	110,323	165,664
Other creditors	117,136	117,136
	-----------	-----------
	290,134	402,281
	-----------	-----------

9. Director's advances, credits and guarantees

At 31 July 2017 the company owed the director, Dr R Jacobson , £89,049 (2016 - £89,049). This amount is interest free, unsecured and repayable on demand.

10. Related party transactions

The director, Dr R R Jacobson, was paid dividends of £Nil in the year (2016 - £475,200).