REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 29 DECEMBER 2022 |
FOR |
RESIDENTIAL LAND LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2022 TO 29 DECEMBER 2022 |
FOR |
RESIDENTIAL LAND LIMITED |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 1 January 2022 to 29 December 2022 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
RESIDENTIAL LAND LIMITED |
COMPANY INFORMATION |
for the period 1 January 2022 to 29 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
ABRIDGED STATEMENT OF FINANCIAL POSITION |
29 December 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 1 January 2022 to 29 December 2022 |
1. | STATUTORY INFORMATION |
Residential Land Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis even though the company's current liabilities exceed its current assets. The directors have acknowledged the latest FRC guidance on going concern during the current economic conditions. The company has prepared forecasts, taking into account reasonably possible changes, which have been reviewed by the directors, based on estimates and judgements about the economic environment in which the company operates. After making enquiries, the directors have formed a judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has access to adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements due to the continued support of the director, Mr B W Ritchie, and other group companies. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 29 December 2022 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Investments |
Investments are valued at cost less provision for impairment. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
Use of judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgements about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from the estimates. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2022 |
Disposals | ( |
) |
At 29 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 29 December 2022 |
NET BOOK VALUE |
At 29 December 2022 |
At 31 December 2021 |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 29 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
At the balance sheet date, the company was owed £109,550 (2021 - £85,765) by Saxonchart Limited, a company in which Residential Land Holdings Limited owns 50% of the issued share capital. Additionally, costs of £23,785 (2021 - £18,683) were recharged during the year to Saxonchart Limited. |
8. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
9. | POST BALANCE SHEET EVENTS |
The company is in the process of carrying out a long term detailed review of its previous income and expenditure which may lead to further adjustments. |
10. | ULTIMATE CONTROLLING PARTY |
The company was controlled throughout the current and previous year by Mr B W Ritchie, a director, by virtue of his ownership of the entire issued share capital of the parent company, Residential Land Holdings Limited. |
11. | FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
12. | CASH AT BANK IN HAND |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
RESIDENTIAL LAND LIMITED (REGISTERED NUMBER: 02188605) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 1 January 2022 to 29 December 2022 |
13. | ASSETS |
Assets, including property stock, are shown at historical cost which could be below their actual market value. |