REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
RA Holdings Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
RA Holdings Limited |
RA Holdings Limited (Registered number: 06569925) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RA Holdings Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
21 Gold Tops |
Newport |
South Wales |
NP20 4PG |
RA Holdings Limited (Registered number: 06569925) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
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. |
RA Holdings Limited (Registered number: 06569925) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
RA Holdings Limited (Registered number: 06569925) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATEMENT OF COMPLIANCE |
The financial statements of R A Holdings Limited have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102, "The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland" ("FRS 102") and the Companies Act 2006. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention, as modified by the recognition of investment property at fair value. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover and revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Rents receivable are accounted for as operating lease income and credited to the profit and loss account on a straight line basis over the lease term, with any rental increases recognised during the period to which they relate. |
Property, plant and equipment |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
Plant and machinery - 15% on reducing balance |
Fixtures and fittings - 15% on reducing balance |
Motor vehicles - 25% on reducing balance |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Investment property - impairment |
Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account. |
Inventories |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost includes actual cost of purchase and other costs incurred in bringing stock to its present condition using the first in first out basis. |
RA Holdings Limited (Registered number: 06569925) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Pension costs and other post-retirement benefits |
Pension costs represent payments made to employees' personal pension plans in the period, together with payments to a defined contribution scheme for directors. |
Contributions payable in the year are charged to the profit and loss account in the period to which they relate. |
Non-derivative financial instruments |
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans. |
Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. |
Cash and cash equivalents comprise cash at bank and in hand. For the purpose of the cash flow statement cash and cash equivalents are net of bank overdrafts and advances which are repayable on demand. |
Loans and borrowings and concessionary loans are initially recognised at 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 finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted. |
RA Holdings Limited (Registered number: 06569925) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Additions |
Impairments | (419,512 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
RA Holdings Limited (Registered number: 06569925) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2016 | (634,998 | ) |
Valuation in 2017 | (521,670 | ) |
Valuation in 2018 | (554,622 | ) |
Valuation in 2019 | (554,764 | ) |
Valuation in 2020 | (277,366 | ) |
Valuation in 2021 | (324,510 | ) |
Valuation in 2022 | (402,862 | ) |
Valuation in 2023 | (406,792 | ) |
Valuation in 2024 | (419,512 | ) |
Cost | 21,775,156 |
17,678,060 |
The investment property was valued in the year ended 30 April 2016, on a fair value basis by Bidwells LLP, who are independent valuers and hold recognised and relevant professional qualifications and have recent experience in the location and class of the investment property being valued. Since that date, the directors consider that the only material changes in value of the properties are the additional expenditure in developing the sites and the provisions for impairment already included. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.24 | 30.4.23 |
value: | £ | £ |
Ordinary | £1 | 9 | 9 |
RA Holdings Limited (Registered number: 06569925) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
9. | CAPITAL COMMITMENTS |
30.4.24 | 30.4.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
10. | RELATED PARTY DISCLOSURES |
During the year, transactions with those individuals holding a participating interest were as follows: |
Income includes loan interest at a commercial rate of interest of £576 (2023:£600). |
Amounts owed by those individuals holding a participating interest were as follows: |
Included in debtors is an amount of £2,695,437 (2023:£507,405). There is no fixed repayment date on this outstanding balance. |
Amounts owed to and by other related parties were as follows: |
Included in debtors is an amount of £782,250 (2023:£782,250). There is no fixed repayment date on this outstanding balance. |
11. | OPERATING LEASE INCOME |
Operating leases relate to rental income of poultry units to third parties. Total expected future minimum lease payments receivable under non-cancellable operating leases, subject to break clauses and other terms and conditions, are as follows: |
2024 | 2023 |
£ | £ |
Not later than one year | 1,732,294 | 1,732,294 |
Later than one and not later than five years | 3,892,111 | 5,355,218 |
Later than five years | 1,884,309 | 2,153,496 |