Company Registration No. 08989163 (England and Wales)
R3 MORTGAGES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
R3 MORTGAGES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
R3 MORTGAGES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,240
400
Current assets
Debtors
23,817
6,400
Cash at bank and in hand
44,167
27,687
67,984
34,087
Creditors: amounts falling due within one year
(95,866)
(51,927)
Net current liabilities
(27,882)
(17,840)
Total assets less current liabilities
(26,642)
(17,440)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(26,742)
(17,540)
Shareholders' funds
(26,642)
(17,440)
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
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 29 April 2017
M Malik
Director
Company Registration No. 08989163
R3 MORTGAGES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
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).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
Computer equipment
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015
500
Additions
1,533
At 30 June 2016
2,033
Depreciation
At 1 July 2015
100
Charge for the year
693
At 30 June 2016
793
Net book value
At 30 June 2016
1,240
At 30 June 2015
400
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
R3 MORTGAGES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
4
Related party relationships and transactions
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Loan
3.00
5,797
11,410
286
5,797
11,696
5,797
11,410
286
5,797
11,696