BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of buying and selling of their own real estate. 25 September 2024 NI649855 2023-12-31 NI649855 2022-12-31 NI649855 2021-12-31 NI649855 2023-01-01 2023-12-31 NI649855 2022-01-01 2022-12-31 NI649855 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI649855 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI649855 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 NI649855 uk-core:ShareCapital 2023-12-31 NI649855 uk-core:ShareCapital 2022-12-31 NI649855 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI649855 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI649855 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI649855 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI649855 uk-bus:FRS102 2023-01-01 2023-12-31 NI649855 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI649855 uk-core:CostValuation 2022-12-31 NI649855 uk-core:AdditionsToInvestments 2022-12-31 NI649855 uk-core:AdditionsToInvestments 2023-12-31 NI649855 uk-core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 NI649855 uk-core:CostValuation 2023-12-31 NI649855 2023-01-01 2023-12-31 NI649855 uk-bus:Director1 2023-01-01 2023-12-31 NI649855 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI649855
 
 
Rialto Enterprises Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Rialto Enterprises Limited
Company Registration Number: NI649855
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 1,357,076 1,355,971
Financial assets 6 136,355 102,933
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Non-Current Assets 1,493,431 1,458,904
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Current Assets
Debtors 177,463 2,307
Cash and cash equivalents 66,363 106,998
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243,826 109,305
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Creditors: amounts falling due within one year (1,651,474) (1,464,046)
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Net Current Liabilities (1,407,648) (1,354,741)
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Total Assets less Current Liabilities 85,783 104,163
 
Provisions for liabilities (4,439) (2,336)
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Net Assets 81,344 101,827
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Capital and Reserves
Called up share capital 1,000 1,000
Retained earnings 80,344 100,827
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Equity attributable to owners of the company 81,344 101,827
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The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Directors' Report.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 25 September 2024 and signed on its behalf by
           
           
           
________________________________          
Mr. Alastair Bell          
Director          
           



Rialto Enterprises Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Rialto Enterprises Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI649855. The registered office of the company is 33 Kensington Road, Belfast, BT5 6NJ which is also the principal place of business of the company The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors or by professional external valuers as is deemed necessary. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Income Statement.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the financial year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Significant accounting judgements and key sources of estimation uncertainty
 
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. 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 if the revision affects that period.

In the director’s opinion, there are no significant judgements, estimates and assumptions made about recognition of assets, liabilities, income and expenses.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2023 2022
  Number Number
 
Directors 2 2
Employees 2 2
  ───────── ─────────
  4 4
  ═════════ ═════════
         
5. Property, plant and equipment
  Investment Fixtures, Total
  properties fittings and  
    equipment  
  £ £ £
Cost
At 1 January 2023 1,353,795 11,328 1,365,123
Additions - 3,140 3,140
  ───────── ───────── ─────────
At 31 December 2023 1,353,795 14,468 1,368,263
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 - 9,152 9,152
Charge for the financial year - 2,035 2,035
  ───────── ───────── ─────────
At 31 December 2023 - 11,187 11,187
  ───────── ───────── ─────────
Net book value
At 31 December 2023 1,353,795 3,281 1,357,076
  ═════════ ═════════ ═════════
At 31 December 2022 1,353,795 2,176 1,355,971
  ═════════ ═════════ ═════════
 
Investment properties were valued on acquisition by an independent professional valuer. The director is of the opinion that the valuation of the investment property is not materially different from the value presented in the financial statements which is the same as historical cost.
       
6. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
At 1 January 2023 102,933 102,933
Additions 23,460 23,460
Revaluations 9,962 9,962
  ───────── ─────────
At 31 December 2023 136,355 136,355
  ───────── ─────────
Net book value
At 31 December 2023 136,355 136,355
  ═════════ ═════════
At 31 December 2022 102,933 102,933
  ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
8. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.