Company Registration No. 3945829 (England and Wales)
RAI HOLDINGS LIMITED
Unaudited accounts
for the year ended 31 March 2024
RAI HOLDINGS LIMITED
Unaudited accounts
Contents
RAI HOLDINGS LIMITED
Company Information
for the year ended 31 March 2024
Director
Mr Richard Ilendo
Company Number
3945829 (England and Wales)
Registered Office
48 Beechcroft Road
Bushey
Watford
Herts
WD23 2JU
Accountants
Fielding Accountancy Services Ltd
48 Beechcroft Road
Bushey
Herts
WD23 2JU
RAI HOLDINGS LIMITED
Statement of financial position
as at 31 March 2024
Investment property
860,000
860,000
Cash at bank and in hand
2,785
-
Creditors: amounts falling due within one year
(51,453)
(88,032)
Net current assets
616,696
617,332
Net assets
1,476,796
1,477,432
Called up share capital
51
51
Revaluation reserve
703,760
703,760
Profit and loss account
772,985
773,621
Shareholders' funds
1,476,796
1,477,432
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 August 2024 and were signed on its behalf by
Mr Richard Ilendo
Director
Company Registration No. 3945829
RAI HOLDINGS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
RAI HOLDINGS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 3945829. The registered office is 48 Beechcroft Road, Bushey, Watford, Herts, WD23 2JU.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Turnover comprises rental income from investment property.
Fair value at 1 April 2023
860,000
The investment property was transferred from Rai Developments Ltd on 1st April 2000 at cost, and is included at its latest revaluation at market value, as valued by an outside consultant, Kempton Carr croft Property Consultants of £860000. It had previously been revalued by Sworn & Co. at £635000. The property had been previously revalued by Melville & Co. Valuers at £450000 on 8th August 2002, having been previously revalued at £372000 as at 24th April 2001.
Investment properties are stated at cost less provision for diminution in value. The financial statements are a departure from accounting requirements investment properties to be included in the Balance Sheet at their open market value, as the directors do not consider that a revaluation of the company's investment properties for the purpose of these financial statements would be beneficial to the shareholders.
No depreciation or amortisation is provided in respect of freehold land and buildings. This treatment is a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, the freehold land and buildings are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy is therefore necessary for the
accounts to give a fair view. Depreciation is only one of the many factors reflected in a valuation and the amount which otherwise might be shown cannot be separately identified or quantified.
RAI HOLDINGS LIMITED
Notes to the Accounts
for the year ended 31 March 2024
5
Investments
Subsidiary undertakings
Valuation at 1 April 2023
100
Valuation at 31 March 2024
100
FIXED ASSET INVESTMENT
Shares in Group Undertaking at cost: at 31 03 2024 £100 at 31 03 2023 £100
The company holds more than 10% of the equity of the following:
Name of company: Rai Developments Ltd
Country of Origin: UK
Holding: 100 Ordinary Shares
Proportion Held: 100%
Total net profit for the year: £41350 ( 2023 £41350)
Under the Equity Method of accounting for Rai Holdings Ltd share of the net assets of the subsidiary is £960773( 2023 £960773)
Amounts falling due within one year
Amounts due from group undertakings etc.
631,864
677,864
Other debtors
33,500
27,500
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
31
Other creditors
2,391
2,258
Loans from directors
49,062
85,743
Allotted, called up and fully paid:
51 Ordinary shares of £1 each
51
51
9
Transactions with related parties
Dividends paid during the year £50000 (2023 £40000) to the Director/Shareholder.
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).