REGISTERED NUMBER:
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REAL ADVISORY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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REGISTERED NUMBER:
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REAL ADVISORY LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 2 |
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REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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2021 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Investments | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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Real Advisory Limited is a
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Registered number: |
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Registered office: |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis. |
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Significant judgements and estimates |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
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Turnover |
Turnover represents amounts receivable in respect of services provided during the year, excluding value added tax. |
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All of the turnover related to one class of business only. |
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Investments in associates |
Investments in associate undertakings are recognised at cost. |
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Financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Fixed asset investments |
Investments held as fixed assets are stated at cost less any provision for impairment. Where the recoverable amount of the investment is less than the carrying amount, an impairment is recognised. Any gains or losses on disposals are recognised in the profit and loss account. |
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Current asset investments |
The current asset investments are stated at lower of cost and net realisable value and any gains or losses on disposals are recognised in the profit and loss account. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2020 - NIL). |
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4. | FIXED ASSET INVESTMENTS |
Interest |
in | Unlisted |
associate | investments | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
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4,115,799 |
Additions |
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188,172 |
Disposals | ( |
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(33,334 | ) |
At 30 September 2021 |
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4,270,637 |
NET BOOK VALUE |
At 30 September 2021 |
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4,270,637 |
At 30 September 2020 |
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4,115,799 |
REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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4. | FIXED ASSET INVESTMENTS - continued |
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Fixed assets investments relate to shares bought in various unlisted companies. The breakdown of the investments is as follows; |
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Riverside
Resorts & Holiday Homes Private Limited- a company in India |
Grosse UK Ltd |
Malvan |
Prime Commercial |
Total |
Opening balance at 1st
October 2020 |
3,074,737 |
33,334 |
387,184 |
620,544 |
4,115,799 |
Additions during the year | 188,172 | - | - | - | 188,172 |
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Disposals | - | (33,334 | ) | - | - | (33,334 | ) |
Closing balance at 30th
September 2021 |
3,262,909 |
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387,184 |
620,544 |
4,270,637 |
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Current assets investments- current assets |
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A loan in the sum of £58,383 was provided to Mayfair Development Finance (Botley) Limited during 2018 which was repaid in the year. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CURRENT ASSET INVESTMENTS |
2021 | 2020 |
as restated |
£ | £ |
Unlisted investments | - | 58,383 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Other creditors |
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REAL ADVISORY LIMITED (REGISTERED NUMBER: 06397663) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2021 |
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9. | RELATED PARTY DISCLOSURES |
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L S Pinkney |
Director and 50% shareholder |
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During the year, the director loaned the company £94,086. The amount due to the director at the balance sheet date was £94,086. |
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A M Shah |
Director and 50% shareholder |
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During the year, the director loaned the company £94,086. The amount due to the director at the balance sheet date was £94,086. |
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Samrush Ltd |
Anup Shah is a director and jointly holds the shares with his wife Alpa Shah in the related party. |
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During the year, a further loan of £510,000 was provided to the reporting entity. The total amount of loan due to related party at the balance sheet date was £1,363,864. This was included within other loans due after one year in the accounts. |
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Mkamba Ltd |
L Pinkney and Anup Shah Jointly control the related company. |
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During the year, a further loan of £510,000 was provided to the reporting entity. The total amount of loan due to related party at the balance sheet date was £1,363,864. This was included within other loans due after one year in the accounts. |
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Riverside Resorts & Holiday Homes Private Limited |
A private limited company based in India. Both L S Pinkney and A M Shah has significant influence over the company. |
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During the year, the company acquired further shares in the related party. At the balance sheet date, the company holds 25,626,574 shares, 29.67% (2020: 28.46%) of the total issued shares in the related party. |
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Mayfair Development Finance (Botley) Limited (wholly owned subsidiary of Mayfair Development Finance Ltd) |
L Pinkney controls the related company through his control over the parent company Mayfair Development Finance Limited. |
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During the year, the related party repaid a sum of £58,383. The balance at the balance sheet date is £Nil. |
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Quattro Investments Limited |
L Pinkney and Anup Shah jointly controls the related company. |
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During the year, the company loaned £1,020,000 to Quattro Investments. The balance at the balance sheet date is £1,020,000. |
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CVS (Devon) Limited (wholly owned subsidiary of Mayfair Development Finance Ltd) |
L Pinkney controls the related company through his control over the parent company Mayfair Development Finance Limited. |
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During the year, the related party repaid £168,942 to the reporting entity. The total amount of loan due from related party at the balance sheet date was £11,058. This was included within other debtors due within one year in the accounts. |