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REGISTERED NUMBER: 09023303 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

RAVELLO INVESTMENTS LIMITED

RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

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


RAVELLO INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Miss S D Engler
Mrs L J Engler
Dr J H W Engler
Mr H D B Engler
Miss A D Engler





REGISTERED OFFICE: 6-14 Great Ancoats Street Great Ancoats
Manchester
M4 5AZ





REGISTERED NUMBER: 09023303 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
The Lexicon
10-12 Mount Street
Manchester
M2 5NT

RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 7,057,401 7,057,401

CURRENT ASSETS
Debtors 5 - 72,741
Cash at bank 112,791 53,058
112,791 125,799
CREDITORS
Amounts falling due within one year 6 4,677,192 4,727,408
NET CURRENT LIABILITIES (4,564,401 ) (4,601,609 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,493,000

2,455,792

PROVISIONS FOR LIABILITIES 231,604 178,798
NET ASSETS 2,261,396 2,276,994

CAPITAL AND RESERVES
Called up share capital 500,000 500,000
Revaluation reserve 8 926,414 926,414
Retained earnings 834,982 850,580
2,261,396 2,276,994

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.

RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





Dr J H W Engler - Director


RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Ravello Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Buckley Frayne Estate Agents, 6-14 Great Ancoats Street, Manchester, M4 5AZ.

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
Rental income from investment property is recognised in the profit or loss on a straight line basis over the lease term. Contingent rents, such as turnover rents, rent reviews and indexation, are recorded as income in the periods in which they are earned. Rent reviews are recognised when such reviews have been agreed with tenants. Surrender premiums receivable are recognised on completion of the surrender.

Where a rent free period is included in a lease, the rental income foregone is allocated evenly over the period from the date of lease commencement to the earlier of the first break option or the lease termination date. Lease incentives and costs associated with entering into tenant leases are amortised over the period from the date of lease commencement to the earlier of the first break option or the lease termination date.

Property operating expenses are expensed as incurred and any property operating expenditure not recovered from tenants through service charges is charged to profit or loss.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are 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 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 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.

RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 7,057,401
NET BOOK VALUE
At 31 May 2023 7,057,401
At 31 May 2022 7,057,401

The carrying value is made up of 54 properties. The valuation has been arrived at on the basis of a professional valuation carried out by the directors in 2023. There were no re-valuations in the current year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 71,991
Other debtors - 750
- 72,741

RAVELLO INVESTMENTS LIMITED (REGISTERED NUMBER: 09023303)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 7) - 1,519,500
Trade creditors 3,960 -
Taxation and social security 11,150 67,893
Other creditors 4,662,082 3,140,015
4,677,192 4,727,408

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans - 1,519,500

The bank loan is secured by a floating charge over the properties owned by the company.

8. RESERVES
Revaluation
reserve
£   
At 1 June 2022
and 31 May 2023 926,414

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company operated loan accounts with its directors, Dr J Engler and Mrs L Engler. As at 31 May 2023, the Company owed £ 3,985,486 (2022: £2,500,927) and £620,885 (2022: £620,885) to Dr J Engler and Mrs L Engler respectively, these amounts are included within other creditors due within one year.

There are no repayment terms on these loans and no interest was charged during the period.