Reynolds Property Developments Limited Filleted accounts for Companies House (small and micro)

Reynolds Property Developments Limited Filleted accounts for Companies House (small and micro)

REYNOLDS PROPERTY DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 13311362
Reynolds Property Developments Limited
Filleted Unaudited Financial Statements
31 March 2023
Reynolds Property Developments Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Reynolds Property Developments Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
£
Current assets
Stocks
692,243
–
Debtors
4
1,740
–
Cash at bank and in hand
200
8
----------
----
694,183
8
Creditors: amounts falling due within one year
5
695,188
–
----------
----
Net current (liabilities)/assets
( 1,005)
8
-------
----
Total assets less current liabilities
( 1,005)
8
-------
----
Net (liabilities)/assets
( 1,005)
8
-------
----
Capital and reserves
Called up share capital
6
8
8
Profit and loss account
( 1,013)
–
-------
----
Shareholders (deficit)/funds
( 1,005)
8
-------
----
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 Section 1A of 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.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Reynolds Property Developments Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 16 October 2023 , and are signed on behalf of the board by:
Mr P D Reynolds
Director
Company registration number: 13311362
Reynolds Property Developments Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The going concern basis has been used. The directors expect the major creditors, because of the nature of their relationship with the company, to continue with their support for at least twelve months from the date of approval of the financial statements. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of the assets to their recoverable amount and to provide for any further liabilities that might arise.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2023
2022
£
£
Other debtors
1,740
–
-------
----
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,980
–
Accruals and deferred income
1,000
–
Other creditors
692,208
–
----------
----
695,188
–
----------
----
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
4
4
4
4
Ordinary 'B' shares of £ 1 each
1
1
1
1
Ordinary 'C' shares of £ 1 each
1
1
1
1
Ordinary 'D' shares of £ 1 each
1
1
1
1
Ordinary 'E' shares of £ 1 each
1
1
1
1
----
----
----
----
8
8
8
8
----
----
----
----
The shares rank pari passu in all respects except that the Ordinary 'B', 'C', 'D' and 'E' shares have no voting rights.
7. Related party transactions
Transactions with related parties, such as are required to be disclosed under FRS 102 were as follows:
20232022
££
Other related parties:
Balances owed by/(owed to):(346,452)–
--------------
The amounts owed to related parties are in respect of short-term interest free loans.