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RA ESTATES LONDON LIMITED

Registered Number
11019373
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

RA ESTATES LONDON LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Alcin Tuncel

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

11019373 (England and Wales)
RA ESTATES LONDON LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property33,660,0003,572,948
3,660,0003,572,948
Current assets
Debtors4135,70921,199
Current asset investments59,9009,900
Cash at bank and on hand106,56179,999
252,170111,098
Creditors amounts falling due within one year6(236,429)(387,007)
Net current assets (liabilities)15,741(275,909)
Total assets less current liabilities3,675,7413,297,039
Creditors amounts falling due after one year7(2,471,350)(2,205,727)
Provisions for liabilities8(268,504)(231,962)
Net assets935,887859,350
Capital and reserves
Called up share capital3030
Other reserves695,886695,886
Profit and loss account239,971163,434
Shareholders' funds935,887859,350
The financial statements were approved and authorised for issue by the Director on 24 June 2025, and are signed on its behalf by:
Alcin Tuncel
Director
Registered Company No. 11019373
RA ESTATES LONDON LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention modified to include investment properties at fair value. The financial statements have been prepared in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account
Financial instruments
The company has elected to apply the provisions of Section 11'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised
2.Average number of employees

20242023
Average number of employees during the year21
3.Investment property
The investment properties below have been shown at fair value as at the balance sheet date which have been valued by the director. If investment properties were stated on historical basis rather than fair value basis, the amounts would have been £2,657,152 (2023: £2,645,100).

£
Fair value at 01 November 233,572,948
Additions335,000
Disposals(247,948)
At 31 October 243,660,000
4.Debtors: amounts due within one year

2024

2023

££
Other debtors135,70921,199
Total135,70921,199
5.Current asset investments
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-1,700
Bank borrowings and overdrafts102,97391,905
Taxation and social security44822,177
Other creditors130,188268,405
Accrued liabilities and deferred income2,8202,820
Total236,429387,007
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,471,3502,205,727
Total2,471,3502,205,727
Loan amounts falling due in more than five years: 2024: £1,956,486 (2023: £1,746,200) Bank loans are secured by a fixed charge over the assets of the company.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)268,504231,962
Total268,504231,962
9.Directors advances, credits and guarantees
At the balance sheet date, the director's loan account has a credit balance of £93,577 (2023: £171,093) relates to director A Tuncel.
10.Related party transactions
Included in other creditors falling due within one year is an amount of £123,941 (2023: 69,411) due to Tuncel Investments Ltd, a company connected to the directors. Included in other debtors falling due within one year is an amount of £21,199 (2023: £21,199) due from AT Estates Ltd, a company connected to the directors.