RD Melvin Property Limited Filleted accounts for Companies House (small and micro)

RD MELVIN PROPERTY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09997909

RD Melvin Property Limited

Filleted Unaudited Financial Statements

31 March 2018

RD Melvin Property Limited

Financial Statements

Year ended 31 March 2018

Contents	Page

Statement of financial position	1

Notes to the financial statements	2

RD Melvin Property Limited

Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Fixed assets

Tangible assets	4	158,665	–

Current assets

Cash at bank and in hand	97,993	168,758

Creditors: amounts falling due within one year	5	256,138	169,589
		---------	---------
Net current liabilities		158,145	831
		---------	----
Total assets less current liabilities		520	( 831)
		----	----
Net assets/(liabilities)		520	( 831)
		----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	518	( 833)
	----	----
Shareholders funds/(deficit)	520	( 831)
	----	----

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 comprehensive income has not been delivered.

For the year ending 31 March 2018 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 .

These financial statements were approved by the board of directors and authorised for issue on 3 December 2018 , and are signed on behalf of the board by:

Miss AL Butler

Director

Company registration number: 09997909

RD Melvin Property Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 10-12, County End Business Centre, Jackson Street, Oldham, Lancashire, OL4 4TZ, United Kingdom.

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 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered. Revenue from the services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. The amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangment, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Freehold property
	£
Cost
At 1 April 2017	–
Additions	158,665
	---------
At 31 March 2018	158,665
	---------
Depreciation
At 1 April 2017 and 31 March 2018	–
	---------
Carrying amount
At 31 March 2018	158,665
	---------
At 31 March 2017	–
	---------

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	121	–
Amounts due to related company	255,100	169,100
Other creditors	917	489
	---------	---------
	256,138	169,589
	---------	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr RD Melvin	( 57)	( 320)	( 377)
	----	----	----

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr RD Melvin	–	( 57)	( 57)
	----	----	----

7. Related party transactions

At the year end date there was an amount due to Melvin Technical Services Limited in the sum of £255,100. Melvin Technical Services Limited is a related party of RD Melvin Property Limited due to common directors and owners. All transactions were carried out at arms length. No interest was charged on the outstanding amount.