Rees Homes Limited - Accounts to registrar (filleted) - small 18.2

Rees Homes Limited - Accounts to registrar (filleted) - small 18.2

REES HOMES LIMITED - Company Information

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REGISTERED NUMBER: 04708825 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2019

for

Rees Homes Limited
Rees Homes Limited (Registered number: 04708825)

Contents of the Financial Statements
for the Year Ended 31 March 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rees Homes Limited

Company Information
for the Year Ended 31 March 2019







DIRECTOR: A J Henderson





REGISTERED OFFICE: 38 Camp Road
North Camp
Farnborough
Hampshire
GU14 6EW





REGISTERED NUMBER: 04708825 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL
1
Rees Homes Limited (Registered number: 04708825)

Balance Sheet
31 March 2019

31.3.19 31.3.18
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,300,000 2,300,000

CURRENT ASSETS
Cash at bank 53,147 33,452

CREDITORS
Amounts falling due within one year 5 192,897 234,692
NET CURRENT LIABILITIES (139,750 ) (201,240 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,160,250
2,098,760

CREDITORS
Amounts falling due after more than one
year
6
(411,135
)
(436,459
)

PROVISIONS FOR LIABILITIES 8 (66,684 ) (66,684 )
NET ASSETS 1,682,431 1,595,617

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 729,742 729,742
Retained earnings 952,589 865,775
SHAREHOLDERS' FUNDS 1,682,431 1,595,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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

2
Rees Homes Limited (Registered number: 04708825)

Balance Sheet - continued
31 March 2019


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 16 December 2019 and were signed by:





A J Henderson - Director


The notes form part of these financial statements

3
Rees Homes Limited (Registered number: 04708825)

Notes to the Financial Statements
for the Year Ended 31 March 2019


1. STATUTORY INFORMATION

Rees Homes 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.

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.

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

Investment property
Investment property is initially recorded at cost and then held at fair value through the income
statement.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss
account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs.
Subsequently they are measured at amortised cost using the effective interest rate method, less
impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at
each balance sheet date. The directors review the carrying amount of the relevant assets and compare
them to their market values and recoverable amounts. Where the carrying amount exceeds this, an
impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where
the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2018
and 31 March 2019 2,300,000
NET BOOK VALUE
At 31 March 2019 2,300,000
At 31 March 2018 2,300,000

4
Rees Homes Limited (Registered number: 04708825)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.19 31.3.18
£    £   
Bank loans and overdrafts 26,000 26,000
Trade creditors 2,124 7,035
Taxation and social security 20,909 10,932
Other creditors 143,864 190,725
192,897 234,692

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.19 31.3.18
£    £   
Bank loans 411,135 436,459

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 307,135 332,459

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.19 31.3.18
£    £   
Bank loans 437,135 462,459

The bank loans are secured over the investment property.

8. PROVISIONS FOR LIABILITIES
31.3.19 31.3.18
£    £   
Deferred tax 66,684 66,684

Deferred
tax
£   
Balance at 1 April 2018 66,684
Fair value adjustments
Balance at 31 March 2019 66,684

5
Rees Homes Limited (Registered number: 04708825)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2019


9. RESERVES
Fair
value
reserve
£   
At 1 April 2018
and 31 March 2019 729,742

6