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REGISTERED NUMBER: 10757555 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

REALTY CORPORATION LIMITED

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REALTY CORPORATION LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Mr J Lurie
Mr W Waligora





REGISTERED OFFICE: 159 High Street
Barnet
Hertfordshire
EN5 5SU





REGISTERED NUMBER: 10757555 (England and Wales)





ACCOUNTANTS: Joshua Leigh & Co Ltd
159 High Street
Barnet
Hertfordshire
EN5 5SU

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 16,996 14,525
Investments 5 759,745 659,091
776,741 673,616

CURRENT ASSETS
Debtors 6 205,057 400,097
Cash at bank 1,497,180 1,251,647
1,702,237 1,651,744
CREDITORS
Amounts falling due within one year 7 (624,361 ) (623,838 )
NET CURRENT ASSETS 1,077,876 1,027,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,854,617

1,701,522

CREDITORS
Amounts falling due after more than one
year

8

(36,759

)

(42,219

)
NET ASSETS 1,817,858 1,659,303

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 99,985 99,985
Retained earnings 1,717,773 1,559,218
SHAREHOLDERS' FUNDS 1,817,858 1,659,303

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Balance Sheet - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2024 and were signed on its behalf by:





Mr J Lurie - Director


REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Realty Corporation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Introduction
Realty Corporation Limited (Realty , the "Firm") is a MIFID Investment Manager authorised and regulated by the Financial Conduct Authority (FCA). The Firm is required to comply with the disclosure requirements under the Investment Firms Prudential Regime (IFPR), which is set out in the FCA Handbook MIFIDPRU 8

For the purpose of prudential regulations, the Firm is classified as a SNI (small and non-interconnected) firm" and are subject to the basic requirements. The Firm is required to provide a level of detail in its disclosures that is appropriate to our size and internal organisation, and to the nature, scope, and complexity of our activities.

Remuneration
The Firm is required to comply with the MIFIDPRU Remuneration Code under IFPR, which aims to ensure that the Firm has risk-focused remuneration policies that are consistent with and promote sound and effective risk management in the long-term interests of the Firm and its clients and do not expose the Firm or its clients to excessive risk.

Our approach and objectives
The Firm has formulated its approach in remuneration policy and practices with reference to the guidance set out by the FCA. The Firm considers the appropriate balance between fixed and variable remuneration as well as the constraints in place to avoid a conflict of interest between staff incentives and the best interests of clients.

The objectives of the Firm's remuneration policy are to:
- promote sound and effective risk management in the long-term interests of the Firm and its clients;
- limit risk-taking and avoid conflicts of interest
- ensure alignment between risk and individual reward
- supporting positive behaviours and healthy firm cultures
- encourage responsible business conduct
- discourage behaviour that can lead to misconduct and poor client outcomes
- align employee's interests with the firm's long-term strategy and objectives
- be gender neutral, in line with the Equality Act 2010.

Governance and decision-making procedures
The management body of the Firm is responsible for overseeing the implementation of our remuneration policy and ensuring our compliance with the MIFIDPRU Remuneration Code.

The management body of the Firm consists of the three most-senior professionals, all of whom are directors of the Firm or of affiliate entities.

One role of the management body of the Firm is to ensure the extent of the variable remuneration at the Firm cannot affect the Firm's ability to ensure a sound capital base. The management body of the Firm is responsible for overseeing the performance management process; reviewing and approving the remuneration policy, variable remuneration pool and caps, eligibility of participation in variable remuneration schemes, as well as the approval of variable remuneration awarded to individuals.

The Firm assesses its staff members under its performance management process on an ongoing basis with an annual performance assessment outcome being used as a contributing factor in the determination of remuneration.

The remuneration of senior staff in risk management and compliance functions is directly overseen by the management body of the Firm. Any remuneration to staff with control functions is awarded according to objectives linked to their functions and remains independent from the business units they oversee.

No variable remuneration is awarded to members of the management body who do not perform any executive function in the Firm.

The Firm's remuneration policies and practices are developed in consultation with our external consultants, Bovill.

Key characteristics of remuneration policies and practices
All staff receive fixed remuneration in form of base salary; and are considered for discretionary variable remuneration in form of bonus where eligible.

Fixed remuneration
Base Salary

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023
The Firm reviews the base salary of its staff members on an annual basis by considering factors such as market information and individual performance.

Variable remuneration
Bonus
The Firm's bonus scheme is a discretionary reward scheme based on the performance of the Firm as a whole. All bonuses are dependent on the Firm's overall financial result to ensure a sound capital base. The bonus pool will take into consideration all types of current and future, financial and non-financial risks and be determined on a sliding scale, using a monthly salary multiplier as a guide.

On an individual level, the scheme is designed and linked to both financial and non-financial criteria, rewarding behaviours that promote positive non-financial outcomes for the firm and limiting eventual behaviours contrary to the Firm's values.

The bonus pool and individual bonuses will be adjusted as deemed necessary by the management body of the Firm in consideration of the following:
- Any compliance or regulatory issues that have occurred or are under investigations internally or externally
- Any persistent or significant deviations in either financial or non-financial KPI's
- Any conduct related matters that have occurred or are under investigation internally or externally
- Any matters that adversely impact client outcomes
- Any other factors that may publicly impact the Firm's brand or reputation.

Control function staff are independent from the business units they oversee and are remunerated in line with the achievement of the objectives of their functions. The determination of the level of remuneration of such staff is independent of the performance of the business areas they oversee.

Dividends
The firm has a discretion to distribute dividends from time to time to the Firm's shareholders and the extent of which is dependent on the Firm's financial results to assure the Firm's capital base.

Guarantees
The Firm is aware that non-performance-related variable remuneration, such as sign-on bonus, buy-out award, retention award and severance pay, may weaken the alignment of risk and award.

From time to time, as circumstances warrant, the Firm will award the following remuneration:
- Sign-on bonus: only in the first year of service of the newly hired material risk takers where the Firm has a strong capital base.
- Buy-out award: involves the Firm compensating a new employee for reduced, revoked, or cancelled variable remuneration by the previous employer
- Retention award: this is dependent on a material risk taker remaining in role until the end of a restructuring or a wind-down of the Firm
- Severance pay: in case of early termination of the employment contract, the Firm retains the ability to make severance payments as long as they reflect the individual's performance over time and do not reward failure or misconduct.

Quantitative disclosures
For the financial year ended 31 MAY 2023, the amount of remuneration awarded is as follows:
Total remuneration 1,045,166
(a) Fixed remuneration 867,666
(b) Variable remuneration 177,500

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Fixed asset investments
Fixed asset investments are measured at cost less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 28,396
Additions 6,944
At 31 May 2023 35,340
DEPRECIATION
At 1 June 2022 13,871
Charge for year 4,473
At 31 May 2023 18,344
NET BOOK VALUE
At 31 May 2023 16,996
At 31 May 2022 14,525

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022 659,091
Additions 150,363
Impairments (49,709 )
At 31 May 2023 759,745
NET BOOK VALUE
At 31 May 2023 759,745
At 31 May 2022 659,091

REALTY CORPORATION LIMITED (REGISTERED NUMBER: 10757555)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 193,941 383,297
Other debtors 11,116 16,800
205,057 400,097

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 151,470 33,980
Taxation and social security 278,817 471,193
Other creditors 194,074 118,665
624,361 623,838

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 36,759 42,219

Amounts falling due in more than five years:

Repayable by instalments
Bounce Back Loan - Over 5 yrs 10,286 15,746