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Company registration number: 10707273
Ralston Estates Limited
Unaudited filleted financial statements
31 March 2024
Ralston Estates Limited
Contents
Statement of financial position
Notes to the financial statements
Ralston Estates Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Current assets
Stocks 4,350,274 4,278,119
Debtors 5 9,250 549,224
Cash at bank and in hand 46,266 23,582
_______ _______
4,405,790 4,850,925
Creditors: amounts falling due
within one year 6 ( 1,421,037) ( 2,178,512)
_______ _______
Net current assets 2,984,753 2,672,413
_______ _______
Total assets less current liabilities 2,984,753 2,672,413
Creditors: amounts falling due
after more than one year 7 ( 2,540,047) ( 2,346,308)
_______ _______
Net assets 444,706 326,105
_______ _______
Capital and reserves
Called up share capital 8 100 100
Profit and loss account 444,606 326,005
_______ _______
Shareholders funds 444,706 326,105
_______ _______
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 Ralston
Director
Company registration number: 10707273
Ralston Estates 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 & 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.
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.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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. Debtors
2024 2023
£ £
Trade debtors 3,567 3,141
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 539,000
Other debtors 5,683 7,083
_______ _______
9,250 549,224
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 110,581 107,429
Trade creditors 78,940 4,263
Amounts owed to group undertakings and undertakings in which the company has a participating interest 1,164,992 2,014,492
Corporation tax 39,534 27,404
Other creditors 26,990 24,924
_______ _______
1,421,037 2,178,512
_______ _______
Included within creditors is a bank loan totalling £110,581 (2023: £107,429).This is secured on property that is being held for sale by the company.
7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 2,540,047 2,346,308
_______ _______
Included within creditors is a bank loan totalling £2,501,419 (2023: £2,346,308).This is secured on property that is being held for sale by the company.
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
A Ordinary shares of £ 1.00 each 52 52 52 52
B Ordinary shares of £ 1.00 each 12 12 12 12
C Ordinary shares of £ 1.00 each 12 12 12 12
D Ordinary shares of £ 1.00 each 12 12 12 12
E Ordinary shares of £ 1.00 each 12 12 12 12
_______ _______ _______ _______
100 100 100 100
_______ _______ _______ _______