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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Ragalty Limited is a limited liability company registered in England and Wales. Its registered office address is at 10 Somerset Square, London, W14 8EE.
The financial statements are presented in £ sterling, which is the functional currency of the Company.
The principal activity of the Company continued to be that of sale of tickets for London Music productions.
2.Accounting policies
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Basis of preparation of financial statements
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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 following principal accounting policies have been applied:
Turnover comprises revenue recognised by the company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised at the point when a ticket is issued.
Fixed asset investments are stated at cost less accumulated impairment.
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Basic financial instruments
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The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to/from related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction
price less attributable transaction costs. Trade creditors, other creditors and loans from related
parties are recognised initially at transaction price plus attributable transaction costs. Subsequently
they are measured at amortised cost using the effective interest method, less any impairment losses
in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised
initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances and call deposits.
Interest income is recognised in profit or loss using the effective interest method.
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