Registered number |
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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2019 | 2018 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 4 |
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Investment property | 5 |
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Current assets | |||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 7 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 8 | ( |
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Provisions for liabilities | ( |
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Net assets/(liabilities) |
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Capital and reserves | |||||||
Called up share capital |
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Revaluation reserve | 10 |
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Profit and loss account | ( |
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Shareholders' funds |
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Mr I W L Morris | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
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Tangible fixed assets | ||||||||
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Motor vehicles | over 4 years | |||||||
Investment property | ||||||||
Investment property is property held either to earn rental income or for capital appreciation or both, but not for sale in the ordinary course of business, use in the production or supply of goods or services or for administrative purposes. Investment property is initially measured at cost and subsequently at fair value with any change recognised in the statement of comprehensive income. Deferred tax is provided on gains arising on revaluations at the rate expected to apply when the property is sold. | ||||||||
Stocks | ||||||||
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Debtors | ||||||||
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Creditors | ||||||||
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Taxation | ||||||||
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Leased assets | ||||||||
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Pensions | ||||||||
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2 | Determination of fair value | |||||||
Investment property | ||||||||
The company's investment properties are valued annually by the directors who are experienced in the acquisition and management of investment properties. The fair values are based on market values, being the estimated amount for which a property could be exchanged on the date of the valuation between a willing buyer and a willing seller in an arm's length transaction after proper marketing wherein the parties had each acted knowledgeably. In the absence of current prices in an active market, the valuations are prepared by considering the estimated rental value of the property. A market yield is applied to the estimated rental value to arrive at the gross property valuation. When actual rents differ materially from the estimated rental value, adjustments are made to reflect actual returns. Valuations reflect, when appropriate, the type of the tenants actually in occupation or responsible for meeting lease commitments or likely to be in occupation after letting vacant accommodation, the allocation of maintenance and insurance obligations between the company and the lessee, and the remaining economic life of the property. When rent reviews or lease renewals are pending with anticipated reversionary increases, it is assumed that all notices, and when appropriate, counter-notices, have been served validly and within the appropriate time. |
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3 | Employees | 2019 | 2018 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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- | ||||||
4 | Tangible fixed assets | |||||||
Plant and machinery etc | Motor vehicles | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 April 2018 | - |
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Additions |
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- |
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At 31 March 2019 |
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Depreciation | ||||||||
At 1 April 2018 | - |
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Charge for the year |
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At 31 March 2019 |
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Net book value | ||||||||
At 31 March 2019 |
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At 31 March 2018 | - |
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5 | Investment property | |||||||
Investment | ||||||||
Property | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 April 2018 |
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Revaluation |
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At 31 March 2019 |
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Historical cost | ||||||||
At 1 April 2018 | 272,950 | |||||||
At 31 March 2019 | 272,950 | |||||||
Investment properties comprise a number of commercial properties that are leased to third parties. Each of the leases contains an initial non-cancellable period with periodic rent reviews. Subsequent renewals are negotiated with the lessee. The properties are measured at fair value and changes in fair value are recognised in the statement of comprehensive income.. Fair value is determined by the directors. |
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6 | Debtors | 2019 | 2018 | |||||
£ | £ | |||||||
Trade debtors |
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Other debtors |
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7 | Creditors: amounts falling due within one year | 2019 | 2018 | |||||
£ | £ | |||||||
Obligations under finance lease and hire purchase contracts |
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Trade creditors |
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Taxation and social security costs |
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Other creditors |
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8 | Creditors: amounts falling due after one year | 2019 | 2018 | |||||
£ | £ | |||||||
Obligations under finance lease and hire purchase contracts |
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9 | Operating lease agreements where the company is the lessor | |||||||
The company holds freehold investment properties which are let to third parties. These non-cancellable leases have remaining terms of between 1 and 3 years. | ||||||||
Future minimum rentals receivable under non-cancellable operating leases are as follows: | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
Not later than one year | 34,440 | 21,320 | ||||||
After one year but not more than five years | 60,938 | 56,338 | ||||||
95,378 | 77,658 | |||||||
10 | Revaluation reserve | 2019 | 2018 | |||||
£ | £ | |||||||
Gain on revaluation of land and buildings |
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- | ||||||
Deferred taxation arising on the revaluation of land and buildings | ( |
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At 31 March 2019 |
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11 | Related party transactions | 2019 | 2018 | |||||
£ | £ | |||||||
Jamson Estates Limited | ||||||||
Jamson Estates Limited is under the common control of the directors. | ||||||||
The loans received from Jamson Estates Limited are interest free and rapayable on demand and are included in other creditors. | ||||||||
At the year end the amount owed to Jamson Estates Limited was: | 123,167 | 123,167 | ||||||
Jac Y Do Limited | ||||||||
Jac Y Do Limited is under the common control of the directors. | ||||||||
The loans received from Jac Y Do Limited are interest free and rapayable on demand and are included in other creditors. | ||||||||
At the year end the amount owed to Jac Y Do Limited was: | 169,796 | 167,837 | ||||||
Linquest Limited | ||||||||
Linquest Limited is under the common control of the directors. | ||||||||
The loans received from Linquest Limited are interest free and rapayable on demand and are included in other creditors. | ||||||||
At the year end the amount owed to Linquest Limited was: | 22,352 | 21,848 | ||||||
12 | Controlling party | |||||||
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13 | Other information | |||||||
RBIS Properties Limited is a private company limited by shares and incorporated in Wales. Its registered office is: | ||||||||
Llys Y Werydd | ||||||||
Aberporth | ||||||||
Cardigan | ||||||||
SA43 2HX |