REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Realto Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Realto Holdings Limited |
Realto Holdings Limited (Registered number: 13828285) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Realto Holdings Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
14 The Oaks |
Clews Road |
Redditch |
Worcestershire |
B98 7ST |
Realto Holdings Limited (Registered number: 13828285) |
Abridged Statement of Financial Position |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year | 5 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Realto Holdings Limited (Registered number: 13828285) |
Abridged Statement of Financial Position - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Realto Holdings Limited (Registered number: 13828285) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Realto Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at the most recent valuation and the revaluation of investment property has been considered for the year ended 31 January 2024. |
Current market conditions indicate that the total property held has a fair value of £1,850,000. |
Any revaluation adjustments in the year have been reflected in the profit and loss account and fair value reserve accordingly. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Realto Holdings Limited (Registered number: 13828285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
Additions |
Revaluations | 842,358 |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Fair value at 31 January 2024 is represented by: |
£ |
Valuation in 2024 | 842,358 |
Cost | 1,007,642 |
1,850,000 |
If land and buildings had not been revalued they would have been included at the following historical cost: |
31.1.24 | 31.1.23 |
£ | £ |
Cost | 1,007,642 | - |
Land and buildings were valued on a fair value basis on 31 January 2024 by comparing local property valuations . |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.1.24 | 31.1.23 |
£ | £ |
Repayable by instalments |
Bank loans more than 5 years |
by instalments | 807,975 | - |
807,975 | - |
6. | LOANS |
An analysis of the maturity of loans is given below: |
31.1.24 | 31.1.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Realto Holdings Limited (Registered number: 13828285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
6. | LOANS - continued |
31.1.24 | 31.1.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years |
by instalments | 807,975 | - |
807,975 | - |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.1.24 | 31.1.23 |
£ | £ |
Bank loans |
The property held within investment property is secured by way of fixed and floating charges held over the property. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
Transfer to fair value reserve | 618,269 |
At 31 January 2024 |
10. | RELATED PARTY DISCLOSURES |
The directors and controlling parties, M D Holder and Mrs S E Holder are also the sole directors and controlling parties of Avonside Homes Limited. |
During the year development costs amounting to £102,460 (2023: £435,000) were incurred by Avonside Homes Limited in relation to work carried out on the property held in investment property. |
At the statement of financial position date within creditors is a balance amounting to £43,860 (2023: £Nil) due to Avonside Homes Limited from the company. |
Realto Holdings Limited (Registered number: 13828285) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
11. | CONTROLLING PARTY |
The controlling parties are the directors by virtue of their ownership of 100% of the issued share capital in the company. |