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Company registration number: 02586463
Ralston Holdings Limited
Unaudited filleted financial statements
31 March 2024
Ralston Holdings Limited
Contents
Statement of financial position
Notes to the financial statements
Ralston Holdings Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 359,869 1,090,358
Investments 6 825,021 825,021
_______ _______
1,184,890 1,915,379
Current assets
Debtors 7 1,585,664 2,415,256
Cash at bank and in hand 3,728 36,913
_______ _______
1,589,392 2,452,169
Creditors: amounts falling due
within one year 8 ( 1,244,016) ( 2,899,353)
_______ _______
Net current assets/(liabilities) 345,376 ( 447,184)
_______ _______
Total assets less current liabilities 1,530,266 1,468,195
Creditors: amounts falling due
after more than one year 9 ( 472,575) ( 504,641)
_______ _______
Net assets 1,057,691 963,554
_______ _______
Capital and reserves
Called up share capital 10 4 4
Profit and loss account 1,057,687 963,550
_______ _______
Shareholders funds 1,057,691 963,554
_______ _______
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.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
Mr I C I C Ralston
Director
Company registration number: 02586463
Ralston Holdings Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 21 Brindley Road, Dodwells Bridge Industrial Estate, Hinckley, Leicestershire, LE10 3BY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity and have been rounded to the nearest £1.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Not depreciated
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other adminsitrative expenses.
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property Total
£ £
Cost
At 1 April 2023 1,090,358 1,090,358
Disposals ( 730,489) ( 730,489)
_______ _______
At 31 March 2024 359,869 359,869
_______ _______
Depreciation
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 359,869 359,869
_______ _______
At 31 March 2023 1,090,358 1,090,358
_______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2023 and 31 March 2024 825,021 825,021
_______ _______
Impairment
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 825,021 825,021
_______ _______
At 31 March 2023 825,021 825,021
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 6,750 3,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,577,530 2,409,392
Other debtors 1,384 2,364
_______ _______
1,585,664 2,415,256
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 33,309 33,045
Trade creditors 20 1,164
Amounts owed to group undertakings and undertakings in which the company has a participating interest 248,100 769,727
Corporation tax 53,601 2,104
Other creditors 908,986 2,093,313
_______ _______
1,244,016 2,899,353
_______ _______
Bank Loans are secured on assets held within the group.
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 472,575 504,641
_______ _______
Bank Loans are secured on assets held within the group.
10. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 4 4 4 4
_______ _______ _______ _______