RNL Properties Limited |
Registered number: |
09348201 |
Balance Sheet |
as at 31 December 2022 |
|
Notes |
|
|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
575 |
|
|
1,151 |
Investments |
4 |
|
|
6,927,430 |
|
|
7,322,027 |
|
|
|
|
6,928,005 |
|
|
7,323,178 |
|
Current assets |
Debtors |
5 |
|
80,444 |
|
|
1,101,218 |
Cash at bank and in hand |
|
|
6,091,056 |
|
|
5,147,248 |
|
|
|
6,171,500 |
|
|
6,248,466 |
|
Creditors: amounts falling due within one year |
6 |
|
(27,797) |
|
|
(19,402) |
|
Net current assets |
|
|
|
6,143,703 |
|
|
6,229,064 |
|
Total assets less current liabilities |
|
|
|
13,071,708 |
|
|
13,552,242 |
|
Provisions for liabilities |
|
|
|
(232,928) |
|
|
(324,052) |
|
Net assets |
|
|
|
12,838,780 |
|
|
13,228,190 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
21,183 |
|
|
21,183 |
Share premium |
|
|
|
9,751,948 |
|
|
9,751,948 |
Revaluation reserve |
7 |
|
|
676,641 |
|
|
1,237,541 |
Profit and loss account |
|
|
|
2,389,008 |
|
|
2,217,518 |
|
Shareholders' funds |
|
|
|
12,838,780 |
|
|
13,228,190 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
|
|
M L Rijks |
Director |
Approved by the board on 26 July 2023 |
|
RNL Properties Limited |
Notes to the Accounts |
for the year ended 31 December 2022 |
|
|
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). |
|
|
Revenue |
|
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract at the end of the reporting period can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
Plant and machinery |
over 3 years straight line |
|
|
Investments |
|
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, and is shown as provision for liabilities in the balance sheet. |
|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
4 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
£ |
|
Cost |
|
At 1 January 2022 |
6,876 |
|
At 31 December 2022 |
6,876 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2022 |
5,725 |
|
Charge for the year |
576 |
|
At 31 December 2022 |
6,301 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2022 |
575 |
|
At 31 December 2021 |
1,151 |
|
|
4 |
Investments |
|
Listed |
Unlisted |
investments |
investments |
Total |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 January 2022 |
5,834,506 |
|
1,487,521 |
|
7,322,027 |
|
Additions |
532,796 |
|
16,854 |
|
549,650 |
|
Revaluation |
(943,129) |
|
327,166 |
|
(615,963) |
|
Disposals |
(304,398) |
|
(23,886) |
|
(328,284) |
|
|
At 31 December 2022 |
5,119,775 |
|
1,807,655 |
|
6,927,430 |
|
|
5 |
Debtors |
2022 |
|
2021 |
£ |
£ |
|
|
Other debtors |
80,444 |
|
1,101,218 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Taxation and social security costs |
21,525 |
|
5,303 |
|
Other creditors |
6,272 |
|
14,099 |
|
|
|
|
|
|
27,797 |
|
19,402 |
|
|
|
|
|
|
|
|
|
|
7 |
Revaluation reserve |
2022 |
|
2021 |
£ |
£ |
|
At 1 January 2022 |
1,237,541 |
|
1,004,973 |
|
Transfer from Profit & Loss Reserve: unrealised revaluations |
(652,024) |
|
286,482 |
|
Deferred taxation arising |
91,124 |
|
(53,914) |
|
At 31 December 2022 |
676,641 |
|
1,237,541 |
|
|
|
|
|
|
|
|
|
|
8 |
Other information |
|
|
RNL Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Crispa, Bashurst Copse |
|
Itchingfield |
|
Horsham |
|
West Sussex |
|
RH13 0NZ |