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REGISTERED NUMBER: 10092131 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

REALACE LIMITED

REALACE LIMITED (REGISTERED NUMBER: 10092131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REALACE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: Mr J J Khederian





SECRETARY: Mr A J Khederian





REGISTERED OFFICE: 1 Doughty Street
London
WC1N 2PH





REGISTERED NUMBER: 10092131 (England and Wales)






REALACE LIMITED (REGISTERED NUMBER: 10092131)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 650,000 650,000

CURRENT ASSETS
Debtors 5 16,821 -
Cash at bank 8,693 23,624
25,514 23,624
CREDITORS
Amounts falling due within one year 6 714,836 728,719
NET CURRENT LIABILITIES (689,322 ) (705,095 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,322

)

(55,095

)

CREDITORS
Amounts falling due after more than one year 7 10,655 11,572
NET LIABILITIES (49,977 ) (66,667 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (49,979 ) (66,669 )
SHAREHOLDERS' FUNDS (49,977 ) (66,667 )

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

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

The director acknowledges his 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.

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 director and authorised for issue on 31st July 2024 and were signed by:





Mr J J Khederian - Director


REALACE LIMITED (REGISTERED NUMBER: 10092131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Realace 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.

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 as modified by the revaluation of certain assets.

At the year end the company had net current liabilities of £66,667. The validity of the going concern basis under which these financial statements are prepared, depends upon the continued support from the directors and shareholders.

The shareholders have subordinated their loan against the other creditors of the company. For this reason the director continues to adopt the going concern basis in preparing the financial statements.

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 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.

Rental income
Rental income receivable from the investment property is recognised over the term of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023
and 31st December 2023 650,000
NET BOOK VALUE
At 31st December 2023 650,000
At 31st December 2022 650,000

REALACE LIMITED (REGISTERED NUMBER: 10092131)

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


4. INVESTMENT PROPERTY - continued

The investment property was valued on an open market value basis at 31st December 2022 by the director.

Fair value at 31st December 2023 is represented by:
£   
Valuation in 2020 (223,939 )
Cost 873,939
650,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,821 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,548 1,548
Taxation and social security 3,916 2,584
Other creditors 709,372 724,587
714,836 728,719

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 10,655 11,572

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 4,463 5,380

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2