Company registration number 11332719 (England and Wales)
Realisation Par (UK) Limited
Audited Financial Statements
For the year ended
31 March 2024
Pages for filing with registrar
Realisation Par (UK) Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
Realisation Par (UK) Limited
Statement Of Financial Position
As at 31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
331,951
1,504
Current assets
Stocks
1,670,877
1,575,485
Debtors
5
63,601
49,043
Cash at bank and in hand
1,183,073
1,392,337
2,917,551
3,016,865
Creditors: amounts falling due within one year
6
(1,265,125)
(1,623,870)
Net current assets
1,652,426
1,392,995
Total assets less current liabilities
1,984,377
1,394,499
Creditors: amounts falling due after more than one year
7
(87,063)
-
0
Provisions for liabilities
(57,000)
-
0
Net assets
1,840,314
1,394,499
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
1,839,314
1,393,499
Total equity
1,840,314
1,394,499

The notes on pages 2 to 6 form part of these financial statements.

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 14 October 2024
T.P. Talbot
Director
Company registration number 11332719 (England and Wales)
Realisation Par (UK) Limited
Notes To The Financial Statements
For the year ended 31 March 2024
- 2 -
1
General information

Realisation Par (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Dixcart House, Addlestone Road, Bourne Business Park, Addlestone, Surrey, KT15 2LE.

2
Accounting policies
2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Going concern

The director has assessed anticipated trading performance of the company and the parent company has confirmed it will continue to support the company for the foreseeable future. true

 

The director considers that there is a reasonable expectation that the company has adequate resources to continue in operation for at least 12 months from the date the accounts were signed. Accordingly, the going concern basis has been adopted in preparing the financial statements.

2.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Sales returns are deducted from turnover on receipt of goods.

2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Straight line over the term of the lease
Plant and equipment (included within leasehold improvements)
Straight line based on management's assessment of a reasonable effective life
Computers
50% straight line
Motor vehicles
Straight line over 8 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Realisation Par (UK) Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
2
Accounting policies
(Continued)
- 3 -
2.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.6
Stocks

Stocks are stated at the lower of cost or net realisable value, cost is calculated using the FIFO basis. In arriving at net realisable value an allowance has been made for deterioration and obsolescence.

2.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

2.8
Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

 

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

2.9
Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Realisation Par (UK) Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
2
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
9
8
Realisation Par (UK) Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
- 5 -
4
Tangible fixed assets
Leasehold improvements
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
-
0
7,779
-
0
7,779
Additions
205,945
-
0
126,638
332,583
At 31 March 2024
205,945
7,779
126,638
340,362
Depreciation and impairment
At 1 April 2023
-
0
6,275
-
0
6,275
Depreciation charged in the year
130
1,487
519
2,136
At 31 March 2024
130
7,762
519
8,411
Carrying amount
At 31 March 2024
205,815
17
126,119
331,951
At 31 March 2023
-
0
1,504
-
0
1,504
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
48,015
34,457
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
15,586
14,586
Total debtors
63,601
49,043
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
201,989
138,162
Amounts owed to group undertakings
409,338
1,029,650
Taxation and social security
259,970
309,958
Other creditors
393,828
146,100
1,265,125
1,623,870
Realisation Par (UK) Limited
Notes To The Financial Statements (Continued)
For the year ended 31 March 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
87,063
-
0
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Julia Wigram FCA
Statutory Auditor:
Dixcart Audit LLP
Date of audit report:
15 October 2024
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
182,861
45,000
10
Capital commitments

At the year end, the company had entered into a commitment with Odgen, Pitt and Company Limited, relating to a refurbishment project. After the year end, payments of £144,752 were paid, following which that company was placed into liquidation in July 2024.

11
Parent company

The company is controlled by its parent company Realisation Limited, incorporated in Hong Kong with registered office at Unit 303 Mirror Tower, 61 Mody Road, Tsimshatsui East, Kowloon, Hong Kong. It is also the parent of the smallest group for which consolidated accounts including Realisation Par (UK) Limited are drawn up, and copies of these accounts can be obtained from its registered office.

2024-03-312023-04-01false15 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedT.P. TalbotJ.J. Mellettfalsefalse113327192023-04-012024-03-31113327192024-03-31113327192023-03-3111332719core:LeaseholdImprovements2024-03-3111332719core:ComputerEquipment2024-03-3111332719core:MotorVehicles2024-03-3111332719core:LeaseholdImprovements2023-03-3111332719core:ComputerEquipment2023-03-3111332719core:MotorVehicles2023-03-3111332719core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3111332719core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111332719core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3111332719core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111332719core:CurrentFinancialInstruments2024-03-3111332719core:CurrentFinancialInstruments2023-03-3111332719core:ShareCapital2024-03-3111332719core:ShareCapital2023-03-3111332719core:RetainedEarningsAccumulatedLosses2024-03-3111332719core:RetainedEarningsAccumulatedLosses2023-03-3111332719bus:Director12023-04-012024-03-3111332719core:LeaseholdImprovements2023-04-012024-03-3111332719core:PlantMachinery2023-04-012024-03-3111332719core:ComputerEquipment2023-04-012024-03-3111332719core:MotorVehicles2023-04-012024-03-31113327192022-04-012023-03-3111332719core:LeaseholdImprovements2023-03-3111332719core:ComputerEquipment2023-03-3111332719core:MotorVehicles2023-03-31113327192023-03-3111332719core:WithinOneYear2024-03-3111332719core:WithinOneYear2023-03-3111332719core:AfterOneYear2024-03-3111332719core:AfterOneYear2023-03-3111332719core:Non-currentFinancialInstruments2024-03-3111332719core:Non-currentFinancialInstruments2023-03-3111332719bus:PrivateLimitedCompanyLtd2023-04-012024-03-3111332719bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111332719bus:FRS1022023-04-012024-03-3111332719bus:Audited2023-04-012024-03-3111332719bus:CompanySecretary12023-04-012024-03-3111332719bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP