RELTA LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
RELTA LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
RELTA LIMITED (REGISTERED NUMBER: 04438910) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Accountants' Report | 5 |
RELTA LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |
SOLICITORS: |
16 St Cuthberts Street |
Bedford |
Bedfordshire |
MK40 3JG |
RELTA LIMITED (REGISTERED NUMBER: 04438910) |
BALANCE SHEET |
31ST OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RELTA LIMITED (REGISTERED NUMBER: 04438910) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Relta Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1. |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
Turnover |
Turnover represents rents received from tenants of investment properties, stated net of value added tax. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
The methods and significant assumptions used to ascertain the fair value of are as follows: |
A valuation technique has been applied using a rental yield calculation and reviewing similar properties traded on an active market. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
RELTA LIMITED (REGISTERED NUMBER: 04438910) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST OCTOBER 2023 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st October 2022 |
Disposals | ( |
) |
At 31st October 2023 |
NET BOOK VALUE |
At 31st October 2023 |
At 30th September 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Amounts owed by related companies | - | 9,519,164 |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to related companies | - | 2,700 |
Corporation tax |
Other creditors |
Accruals and deferred income |
7. | RELATED PARTY DISCLOSURES |
Disclosed within debtors falling due within one year is an interest free loan to Lousada Investments Limited of £4,019,264 (2022 £3,019,164). |
Dylon 2 Limited is a company in which Messrs I C Hutchinson & S C Lousada have material interests. |
Lousada plc is a company in which Mr S C Lousada has material interests. |
Within debtors falling due within one year is an interest free loan to Lousada plc of £2,398,211(2022 £6,500,000). This is repayable on demand. |
8. | POST BALANCE SHEET EVENTS |
The group ceased to trade on 31st October 2023. It is intended to place the company into a members voluntary liquidation in due course. |
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RELTA LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Relta Limited for the period ended 31st October 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Relta Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Relta Limited and state those matters that we have agreed to state to the Board of Directors of Relta Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Relta Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Relta Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Relta Limited. You consider that Relta Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Relta Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
First Floor, Woburn Court |
2 Railton Road |
Woburn Rd Ind Est |
Kempston |
Bedfordshire |
MK42 7PN |