RMZ Property Limited
Unaudited Abbreviated Accounts
For the year ended 31 October 2015
Company Registration No. 04877654 (England and Wales)
RMZ Property Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
RMZ Property Limited
Abbreviated Balance Sheet
As at 31 October 2015
Page 1
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
1
73
504
Current assets
Debtors
-
1,137
Cash at bank and in hand
481
5,400
481
6,537
Creditors: amounts falling due within one year
(8,298)
(3,150)
Net current (liabilities)/assets
(7,817)
3,387
Total assets less current liabilities
(7,744)
3,891
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(7,844)
3,791
Shareholders' funds
(7,744)
3,891
For the financial year ended 31 October 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit.
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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 July 2016
M Zieleznik
Director
Company Registration No. 04877654
RMZ Property Limited
Abbreviated Balance Sheet (Continued)
As at 31 October 2015
31 October 2015
Page 2
1
Fixed assets
Tangible assets
£
Cost
At 1 November 2014 & at 31 October 2015
3,171
Depreciation
At 1 November 2014
2,667
Charge for the year
431
At 31 October 2015
3,098
Net book value
At 31 October 2015
73
At 31 October 2014
504
2
Accounting policies
2.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2
Going concern
As at the balance sheet date the company had net liabilities of £7,744 (2014: net assets of £3,891). It is the view of the directors that based on future financial and cashflow projections that the company will continue to trade for at least 12 months from the signing of the accounts and as such the accounts should be prepared on a going concern basis.
2.3
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
2.4
Turnover
Turnover represents the rent receivable from investment properties and proceeds from sale of property classified as held for sale, net of value added tax. In 2012, the company started a secondary trade in which turnover represents monies receivable for fancy dress hire.
2.5
Tangible fixed assets and depreciation
Depreciation on fixed assets is provided at rates estimated to write off the cost or valuation, less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% straight line
Fancy dress hire assets
33.33% straight line
RMZ Property Limited
Notes to the Abbreviated Accounts
For the year ended 31 October 2015
2
Accounting policies
(Continued)
Page 3
2.6
Deferred taxation
In accordance with the Financial Reporting Standard for Smaller Entities, deferred tax is recognised as a liability or asset if transactions or events that give the company the obligation to pay more tax in future or a right to pay less tax in future have occurred by the balance sheet date.
2.7
Stock
Stock consists of property held for sale in the ordinary course of business or in the process of construction or development for such sale. Stock is held at the lower of cost and net realisable value.
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
4
Control
The company is controlled by the two directors by virtue of their 100% joint interest in the issued share capital of the company.
5
Related party relationships and transactions
Other transactions
Included within other creditors is £5,322 (2014: within other debtors: £1,137) owed to M and R Zieleznik, directors of the company. No interest was paid on the directors loan account during the year (2014: £Nil). The maximum overdrawn loan account in the year was £1,137 (2014: £1,137).