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Company Registration No. 10774326 (England and Wales)
Ritzi Estates Ltd Unaudited accounts for the year ended 31 May 2025
Ritzi Estates Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Ritzi Estates Ltd Company Information for the year ended 31 May 2025
Director
Nikolaos Zafeiropolous
Company Number
10774326 (England and Wales)
Registered Office
76 Balls Pond Road London N1 4AJ United Kingdom
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Ritzi Estates Ltd Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
1,637
431,637
Investment property
5
425,000
-
426,637
431,637
Current assets
Debtors
6
221,188
218,330
Cash at bank and in hand
2,137
516
223,325
218,846
Creditors: amounts falling due within one year
7
(174,285)
(211,684)
Net current assets
49,040
7,162
Total assets less current liabilities
475,677
438,799
Creditors: amounts falling due after more than one year
8
(352,149)
(323,531)
Net assets
123,528
115,268
Capital and reserves
Share premium
100
100
Profit and loss account
123,428
115,168
Shareholders' funds
123,528
115,268
For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 May 2026 and were signed on its behalf by
Nikolaos Zafeiropolous Director Company Registration No. 10774326
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Ritzi Estates Ltd Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Ritzi Estates Ltd is a private company, limited by shares, registered in England and Wales, registration number 10774326. The registered office is 76, Balls Pond Road, London, N1 4AJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 May 2025 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2023. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. Prior Period Adjustment During the period, the directors identified that a freehold property held exclusively to earn rental income had been incorrectly classified within Land and Buildings under Property, Plant and Equipment. In accordance with FRS 102 (Section 16), a property held for rental income meets the definition of an Investment Property. Consequently, the prior period financial statements have been restated to correct this reclassification error. The effect of this restatement on the opening balance sheet is a decrease in Land and Buildings of £425,000 and a corresponding increase in Investment Properties of £425,000. There is no impact on the profit or loss or the opening reserves for the prior period.
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Ritzi Estates Ltd Notes to the Accounts for the year ended 31 May 2025
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 June 2024
425,000
18,200
12,681
455,881
Revaluations
(425,000)
-
-
(425,000)
At 31 May 2025
-
18,200
12,681
30,881
Depreciation
At 1 June 2024
-
16,562
7,682
24,244
Charge for the year
-
-
5,000
5,000
At 31 May 2025
-
16,562
12,682
29,244
Net book value
At 31 May 2025
-
1,638
(1)
1,637
At 31 May 2024
425,000
1,638
4,999
431,637
5
Investment property
2025
£
Additions
425,000
At 31 May 2025
425,000
The investment property was valued at the reporting date by the directors at £425,000. This valuation is based upon an external professional valuation originally carried out in 2019. The directors have reviewed current local market conditions and property indices and are satisfied that the carrying value of £425,000 continues to reflect the asset's fair value at the balance sheet date.
6
Debtors
2025
2024
£
£
Amounts falling due within one year
Amounts due from group undertakings etc.
221,188
217,784
Other debtors
-
546
221,188
218,330
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
11,992
48,290
Trade creditors
-
2,411
Other creditors
-
9,006
Loans from directors
160,811
150,177
Accruals
1,482
1,800
174,285
211,684
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Ritzi Estates Ltd Notes to the Accounts for the year ended 31 May 2025
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
352,149
323,531
Aggregate of amounts that fall due for payment after five years
321,949
-
BBL loan - £28,618 - backed by 100% government guarantee and financing of first year's interest by means of government grant Kent Reliance - Property: 41a Cedar Drive Sutton at Hone Dartford DA4 9EW - £323,531 - interest only loan, due to be paid in 20 years, secured against the property.
9
Transactions with related parties
Inter-company balances The following companies maintain intercompany balances with Ritzi Estates Ltd, The loans provided are interest-free and repayable on demand unless otherwise stated. Any services provided by both parties are at normal commercial rates. Company London Luxury Developments Ltd £221,188 (2024: £217,784)
10
Average number of employees
During the year the average number of employees was 0 (2024: 0).
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