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

REGISTERED NUMBER: 04708825 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

for

Rees Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

FIXED ASSETS

Investment property

4

2,300,000

2,300,000

CURRENT ASSETS

Debtors

5

-

1,339

Cash at bank

33,452

7,994

33,452

9,333

CREDITORS

Amounts falling due within one year

6

234,692

209,974

NET CURRENT LIABILITIES

(201,240

)

(200,641

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,098,760

2,099,359

CREDITORS

Amounts falling due after more than one year

7

(436,459

)

(462,273

)

PROVISIONS FOR LIABILITIES

9

(66,684

)

(76,843

)

NET ASSETS

1,595,617

1,560,243

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

729,742

719,583

Retained earnings

865,775

840,560

SHAREHOLDERS' FUNDS

1,595,617

1,560,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 19 November 2018 and were signed by:

A J Henderson - Director

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 1 (2017 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

2,300,000

NET BOOK VALUE

At 31 March 2018

2,300,000

At 31 March 2017

2,300,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Other debtors

-

1,339

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

26,000

26,000

Trade creditors

7,035

8,006

Taxation and social security

10,932

19,748

Other creditors

190,725

156,220

234,692

209,974

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

436,459

462,273

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

332,459

358,273

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

462,459

488,273

The bank loans are secured over the investment property.

9.	PROVISIONS FOR LIABILITIES

31.3.18

31.3.17

£

£

Deferred tax

66,684

76,843

Deferred

tax

£

Balance at 1 April 2017

76,843

Fair value adjustments

(10,159

)

Balance at 31 March 2018

66,684

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.18

31.3.17

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

value

reserve

£

At 1 April 2017

719,583

Transfers

10,159

At 31 March 2018

729,742