REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Only Realty Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 January 2023 |
for |
Only Realty Ltd |
Only Realty Ltd (Registered number: 11135071) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Only Realty Ltd |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Unit 1 |
Shrine Barn |
Sanding Road |
Hythe |
Kent |
CT21 4HE |
Only Realty Ltd (Registered number: 11135071) |
Statement of Financial Position |
31 January 2023 |
31/1/23 | 31/1/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
RESERVES |
Retained earnings |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Only Realty Ltd (Registered number: 11135071) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Only Realty Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
Amounts are rounded to the nearest Pound Sterling. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company meets its day to day working capital requirements through the financial support of its director. The director anticipates that this financial support will continue for the foreseeable future and that the financial statements should be prepared on a going concern basis. The financial statements do not include any adjustments that may be required should this financial support no longer continue. |
Turnover |
Turnover represents gross income from lettings during the period. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year 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 year 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Only Realty Ltd (Registered number: 11135071) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2022 |
Revaluations | 14,091 |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
Fair value at 31 January 2023 is represented by: |
£ |
Valuation in 2023 | 14,091 |
Cost | 85,909 |
100,000 |
If the property had not been revalued it would have been included at the following historical cost: |
31/1/23 | 31/1/22 |
£ | £ |
Cost | 85,909 | - |
Investment property was valued on an open market basis on 31 January 2023 by the director . |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/1/23 | 31/1/22 |
£ | £ |
Trade creditors |
Tax |
Directors' current accounts | 2,065 | - |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/1/23 | 31/1/22 |
£ | £ |
Directors' loan accounts | 93,558 | 95,000 |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |