ACCOUNTS - Final Accounts


Caseware UK (AP4) 2018.0.111 2018.0.1112019-03-312019-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2018-04-01054982332018-04-012019-03-31054982332017-04-012018-03-31054982332019-03-31054982332018-03-3105498233 c:Director1 2018-04-012019-03-3105498233 d:FinancialAssetsHeldForTrading d:Non-currentFinancialInstruments 2019-03-3105498233 d:FinancialAssetsHeldForTrading d:Non-currentFinancialInstruments 2018-03-3105498233 d:CurrentFinancialInstruments 2019-03-3105498233 d:CurrentFinancialInstruments 2018-03-3105498233 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-3105498233 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-3105498233 d:ShareCapital 2019-03-3105498233 d:ShareCapital 2018-03-3105498233 d:SharePremium 2019-03-3105498233 d:SharePremium 2018-03-3105498233 d:RetainedEarningsAccumulatedLosses 2019-03-3105498233 d:RetainedEarningsAccumulatedLosses 2018-03-3105498233 c:FRS102 2018-04-012019-03-3105498233 c:AuditExempt-NoAccountantsReport 2018-04-012019-03-3105498233 c:FullAccounts 2018-04-012019-03-3105498233 c:PrivateLimitedCompanyLtd 2018-04-012019-03-31iso4217:GBPxbrli:pure

Registered number: 05498233













RAGALTY LIMITED
UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

 
RAGALTY LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 4


 
RAGALTY LIMITED
REGISTERED NUMBER:05498233

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2019

2019
2018
Note
£
£

Fixed assets
  

Investments
 4 
332,500
332,500

Current assets
  

Debtors: amounts falling due within one year
 5 
547,650
480,650

Cash at bank and in hand
  
5,098
11,973

  
552,748
492,623

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(15,499)
(15,363)

Net current assets
  
 
 
537,249
 
 
477,260

Net assets
  
869,749
809,760


Capital and reserves
  

Called up share capital 
 7 
322,200
322,200

Share premium account
  
9,476
9,476

Profit and loss account
  
538,073
478,084

  
869,749
809,760


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 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 comprehensive income 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 11 June 2019.




F Baroukh
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
RAGALTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

1.


General information

The Company's legal form is that of a limited Company incorporated in the United Kingdom. The Company's registered office is 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

 
2.1

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

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.

 
2.3

Valuation of investments

Fixed asset investments are stated at cost less accumulated impairment.

 
2.4

Basic financial instruments

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. Bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.

 
2.5

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Page 2

 
RAGALTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

 
2.6

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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2018 - 1).


4.


Fixed asset investments





Debentures

£





At 1 April 2018
332,500



At 31 March 2019
332,500



At 31 March 2018
332,500

The company acquired debentures in the Royal Albert Hall which entitles the company seats and the tickets issued by the Royal Albert Hall for each and every performance at that venue in respect of those seats sold to the general public.


5.


Debtors

2019
2018
£
£


Other debtors
547,650
480,650


Page 3

 
RAGALTY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019

6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Corporation tax
14,055
13,919

Other creditors
4
4

Accruals and deferred income
1,440
1,440

15,499
15,363



7.


Share capital

2019
2018
£
£
Allotted, called up and fully paid



322,200 (2018 - 322,200) Ordinary shares of £1 each
322,200
322,200


 
Page 4