|
Registered number: 09848877
REVELAN GROUP LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
REVELAN GROUP LTD
CONTENTS
|
|
|
|
|
|
Notes to the financial statements
|
|
|
|
REVELAN GROUP LTD
REGISTERED NUMBER: 09848877
BALANCE SHEET
AS AT 31 MARCH 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVELAN GROUP LTD
REGISTERED NUMBER: 09848877
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 December 2025.
The notes on pages 3 to 7 form part of these financial statements.
|
|
REVELAN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Revelan Group Ltd is a private company limited by shares, incorporated and domiciled in England. The address of its registered office and principal place of business is Crown House, 82-85 Malt Mill Lane, Halesowen, West Midlands, B62 8JJ.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental income
Rents from investment properties are accounted for in the period in which they accrue. Where tenants are offered rent free periods the cost of this incentive is spread over the lease term.
Sales of properties and lease surrenders
Revenue from the sale of properties held as stock is recognised on completion.
Interest income is recognised in profit or loss using the effective interest method.
|
|
|
Current and deferred taxation
|
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
|
|
REVELAN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Investment property is carried at fair value determined annually by the directors 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 Statement of comprehensive income.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
|
|
|
Provisions for liabilities
|
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
|
|
|
|
|
|
|
Fair value movement on investment property
|
|
|
|
|
The average monthly number of employees, including directors, during the year was 2 (2024 - 2).
|
|
|
REVELAN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
Investments in subsidiary companies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following were subsidiary undertakings of the company:
|
|
|
|
|
|
|
|
|
Revelan Developments Limited
|
Property investment and development
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revelan Properties (IOM) Limited
|
|
|
|
|
|
Wellington Road Retail Park Management Company Limited
|
|
|
|
|
|
|
Property investment and development
|
|
|
|
|
|
|
|
|
|
|
Revelan Estates (Wigston) Limited
|
|
|
|
|
|
Revelan Estates (IOM) No 3 Limited
|
|
|
|
|
|
Revelan Estates (IOM) No 4 Limited
|
|
|
|
|
|
Victory Park Management Company Limited*
|
|
|
|
|
|
|
|
|
|
|
|
Revelan Estates (Anglo) Limited*
|
|
|
|
|
|
Revelan (Dunstable) Limited*
|
|
|
|
|
|
|
|
|
|
|
|
Revelan Estates (Harborne) Limited*
|
|
|
|
|
|
|
|
|
|
|
|
Revelan Estates (No 2) Limited
|
|
|
|
|
|
All of the above companies are registered in England, with the exception of Revelan Developments Limited, which is incorporated in the Republic of Cyprus and Revelan Group Plc, which is incorporated in the Isle of Man. The address of the registered office of the companies registered in England is Rutland House, 148 Edmund Street, Birmingham, B3 2FD.
* - Indirect subsidiary undertakings.
|
|
|
REVELAN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
Freehold investment property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The property valuations were made by the company's director, on an open market value for existing use basis.
|
|
If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed by group undertakings
|
|
|
|
|
|
|
|
|
|
Prepayments and accrued income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVELAN GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed to group undertakings
|
|
|
|
|
|
|
|
|
|
Other taxation and social security
|
|
|
|
|
|
|
|
|
|
Accruals and deferred income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments under operating leases
|
|
|
At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Later than 1 year and not later than 5 years
|
|
|
|
|
|
|
|
|
|
Related party transactions
|
|
|
During the year, the company was charged management fees of £725,000 (2024: £617,500) by a related party entity, related by virtue that it is controlled by a director of the company. At the year-end £57,735 (2024: £39,114) was owed to this related party entity by the company.
The company has taken advantage of Section 1A of FRS102 and has not disclosed transactions with other wholly owned entities of Revelan Holdings Ltd.
|
The company is a wholly owned subsidiary of Revelan Holdings Ltd, a company registered in England and Wales. The ultimate controlling company is Revelan Group Holdings Limited, a company registered in England and Wales.
|
|
|