Rex Campbell Properties Limited
|
Registered number: |
04161476
|
|
Balance Sheet |
as at 31 March 2021
|
|
31st March |
31st March |
Notes |
|
|
2021 |
|
|
2020 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
740,477 |
|
|
728,597 |
|
Current assets |
Debtors |
4 |
|
5,999 |
|
|
5,973 |
Cash at bank and in hand |
|
|
59,926 |
|
|
76,665 |
|
|
|
65,925 |
|
|
82,638 |
|
Creditors: amounts falling due within one year |
5 |
|
(71,081) |
|
|
(81,603) |
|
Net current (liabilities)/assets |
|
|
|
(5,156) |
|
|
1,035 |
|
|
Total assets less current liabilities |
|
|
|
735,321 |
|
|
729,632 |
|
Provisions for liabilities |
6 |
|
|
(26,156) |
|
|
(26,156) |
|
Net assets |
|
|
|
709,165 |
|
|
703,476 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
709,163 |
|
|
703,474 |
|
Shareholders' funds |
|
|
|
709,165 |
|
|
703,476 |
|
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
Mr P Campbell |
Director |
Approved by the board on 10 November 2021
|
|
Rex Campbell Properties Limited
|
|
Notes to the Accounts |
for the year ended 31 March 2021
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover includes revenue earned from the rendering of services and rental income. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated costs. Rental income represents the invoiced value of rents receivable during the year.
|
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
|
Motor vehicles |
25% straight line |
|
Plant and machinery |
20% straight line |
|
|
Investments |
|
Investments in land and buildings are measured at fair value. Changes in fair value are recognised in the profit or loss account. Fair value is estimated by the director using a valuation technique. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price).
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current period. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and are expected to apply to the sale of the investment property.
|
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate.
|
|
31st March |
31st March |
2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery |
|
Motor vehicles |
|
Total |
|
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2020 |
700,000 |
|
1,493 |
|
58,465 |
|
759,958 |
|
Additions |
- |
|
- |
|
23,620 |
|
23,620 |
|
Disposals |
- |
|
(749) |
|
(17,641) |
|
(18,390) |
|
At 31 March 2021 |
700,000 |
|
744 |
|
64,444 |
|
765,188 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2020 |
- |
|
1,023 |
|
30,338 |
|
31,361 |
|
Charge for the year |
- |
|
248 |
|
10,852 |
|
11,100 |
|
On disposals |
- |
|
(749) |
|
(17,001) |
|
(17,750) |
|
At 31 March 2021 |
- |
|
522 |
|
24,189 |
|
24,711 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2021 |
700,000 |
|
222 |
|
40,255 |
|
740,477 |
|
At 31 March 2020 |
700,000 |
|
470 |
|
28,127 |
|
728,597 |
|
|
|
|
|
|
|
|
|
|
31st March |
31st March |
4 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Trade debtors |
5,997 |
|
5,971 |
|
Other debtors |
2 |
|
2 |
|
|
|
|
|
|
5,999 |
|
5,973 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
|
|
Director's loan accounts |
56,573 |
|
62,535 |
|
Corporation tax |
8,719 |
|
8,081 |
|
Other taxes and social security |
3,094 |
|
4,392 |
|
Other creditors |
2,695 |
|
6,595 |
|
|
|
|
|
|
71,081 |
|
81,603 |
|
|
|
|
|
|
|
|
|
|
6 |
Provision for liabilities |
|
|
Deferred taxation |
|
At 1 April 2020 |
26,156 |
|
26,156 |
|
|
At 31 March 2021 |
26,156 |
|
26,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
31st March |
31st March |
7 |
Related party transactions |
2021 |
|
2020 |
£ |
£ |
|
|
Mr P Campbell |
|
Director
|
|
Monies loaned to the company at the year end |
56,573 |
|
62,535 |
|
|
Total monies owed to the director |
56,573 |
|
62,535 |
|
|
|
|
|
|
|
|
|
|
|
|
|
8 |
Other information |
|
|
Rex Campbell Properties Limited is a private company limited by shares and incorporated in England. The registered office is: |
|
50 Langdale Road |
|
Leyland |
|
Preston |
|
Lancashire |
|
PR25 3AS |