RECORD LEVEL LIMITED

RECORD LEVEL LIMITED

RECORD LEVEL LIMITED - Company Information

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Company Registration No. 04068054 (England and Wales)
RECORD LEVEL LIMITED Unaudited accounts for the year ended 30 September 2017
RECORD LEVEL LIMITED Unaudited accounts Contents
Page
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RECORD LEVEL LIMITED Company Information for the year ended 30 September 2017
Director
Mr Paul Newman
Company Number
04068054 (England and Wales)
Registered Office
25 Mountway Potters Bar Hertfordshire EN6 1ER
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RECORD LEVEL LIMITED Statement of financial position as at 30 September 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
- 
2,874,066 
Investment property
5
2,877,464 
- 
Investments
6
5,260 
5,260 
2,882,724 
2,879,326 
Current assets
Debtors
7
190,913 
190,659 
Creditors: amounts falling due within one year
8
(67,964)
(65,152)
Net current assets
122,949 
125,507 
Total assets less current liabilities
3,005,673 
3,004,833 
Creditors: amounts falling due after more than one year
9
(1,320,321)
(1,320,321)
Net assets
1,685,352 
1,684,512 
Capital and reserves
Called up share capital
10
2 
2 
Revaluation reserve
1,351,471 
1,351,471 
Profit and loss account
333,879 
333,039 
Shareholders' funds
1,685,352 
1,684,512 
For the year ending 30 September 2017 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.
Approved by the Board on 25 June 2018.
Mr Paul Newman Director Company Registration No. 04068054
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RECORD LEVEL LIMITED Notes to the Accounts for the year ended 30 September 2017
1
Statutory information
RECORD LEVEL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04068054. The registered office is 25 Mountway, Potters Bar, Hertfordshire, EN6 1ER.
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.
3
Accounting policies
These financial statements for the year ended 30 September 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover relates to gross rental receipts.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% reducing balance method.
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RECORD LEVEL LIMITED Notes to the Accounts for the year ended 30 September 2017
4
Tangible fixed assets
Land & buildings 
£ 
Cost or valuation
At cost 
At 1 October 2016
2,888,651 
Additions
6,898 
At 30 September 2017
2,895,549 
Depreciation
At 1 October 2016
14,585 
Charge for the year
3,500 
On transfers to investment property
2,877,464 
At 30 September 2017
2,895,549 
Net book value
At 30 September 2017
- 
At 30 September 2016
2,874,066 
5
Investment property
2017 
£ 
Transfers from tangible fixed assets
2,877,464 
At 30 September 2017
2,877,464 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 October 2016
5,260 
Valuation at 30 September 2017
5,260 
The company acquired a one third of the issued share capital of Park Avenue (29) Limited, a company incorporated in England.
7
Debtors
2017 
2016 
£ 
£ 
Trade debtors
78,300 
78,300 
Other debtors
112,613 
112,359 
190,913 
190,659 
8
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
7,024 
10,282 
Trade creditors
14,901 
14,153 
Taxes and social security
16,476 
11,488 
Other creditors
28,063 
28,563 
Loans from directors
- 
666 
Accruals
1,500 
- 
67,964 
65,152 
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RECORD LEVEL LIMITED Notes to the Accounts for the year ended 30 September 2017
9
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Bank loans
1,320,321 
1,320,321 
10
Share capital
2017 
2016 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
11
Controlling party
The company is controlled by the director by virtue of his shareholding in the company.
12
Average number of employees
During the year the average number of employees was 2 (2016: 2).
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