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REGISTERED NUMBER: 02794964 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

RITZ PROPERTIES LIMITED

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RITZ PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D Schreiber
J Schreiber





SECRETARY: Mrs R Niederman





REGISTERED OFFICE: 147 Stamford Hill
London
N16 5LG





REGISTERED NUMBER: 02794964 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,895 2,229
Investment property 5 8,382,912 8,382,912
8,384,807 8,385,141

CURRENT ASSETS
Debtors 6 5,847,786 5,817,141
Cash at bank 70,305 19,916
5,918,091 5,837,057
CREDITORS
Amounts falling due within one year 7 (5,236,510 ) (5,257,401 )
NET CURRENT ASSETS 681,581 579,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,066,388

8,964,797

CREDITORS
Amounts falling due after more than one
year

8

(2,542,614

)

(2,542,614

)
NET ASSETS 6,523,774 6,422,183

CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 5,254,640 5,254,640
Retained earnings 11 1,269,132 1,167,541
SHAREHOLDERS' FUNDS 6,523,774 6,422,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





J Schreiber - Director


RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Ritz Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment properties
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023
and 30 June 2024 33,545
DEPRECIATION
At 1 July 2023 31,316
Charge for year 334
At 30 June 2024 31,650
NET BOOK VALUE
At 30 June 2024 1,895
At 30 June 2023 2,229

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 8,382,912
NET BOOK VALUE
At 30 June 2024 8,382,912
At 30 June 2023 8,382,912

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2017 3,010,733
Valuation in 2005 2,243,907
Cost 3,128,272
8,382,912

The fair value of investment properties were assessed to be unchanged by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 35,000 35,000
Amounts owed by participating interests 2,196,630 2,196,625
Other debtors 3,616,156 3,585,516
5,847,786 5,817,141

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 651,428 661,441
Trade creditors 200,819 209,806
Taxation and social security 63,137 36,231
Other creditors 4,321,126 4,349,923
5,236,510 5,257,401

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 2,542,614 2,542,614

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan 355,114 355,114

Repayable by instalments
Bank loan 2,187,500 2,187,500

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 3,190,270 3,200,283

The mortgage loans are secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at fixed and variable rates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
2 Ordinary Shares £1 2 2

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2023 1,167,541 5,254,640 6,422,181
Profit for the year 101,591 101,591
At 30 June 2024 1,269,132 5,254,640 6,523,772

RITZ PROPERTIES LIMITED (REGISTERED NUMBER: 02794964)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr D Schreiber who is a director of this company.