Rylo Limited - Accounts to registrar (filleted) - small 18.2
Rylo Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JULY 2020 TO 31 DECEMBER 2020 |
FOR |
RYLO LIMITED |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
RYLO LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Third Floor, |
Langdon House, Langdon Road |
SA1 Swansea Waterfront |
Swansea |
West Glamorgan |
SA1 8QY |
BANKERS: |
Ty Dyffryn |
Atlantic Close |
Swansea Enterprise Park |
Swansea |
SA7 9FJ |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
RYLO LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rylo Limited for the period ended 31 December 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Rylo Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rylo Limited and state those matters that we have agreed to state to the Board of Directors of Rylo Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rylo Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Rylo Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rylo Limited. You consider that Rylo Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Rylo Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
The Third Floor, |
Langdon House, Langdon Road |
SA1 Swansea Waterfront |
Swansea |
West Glamorgan |
SA1 8QY |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
BALANCE SHEET |
31 DECEMBER 2020 |
2020 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
BALANCE SHEET - continued |
31 DECEMBER 2020 |
2020 | 2020 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
1. | STATUTORY INFORMATION |
Rylo Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is made up of dividends received from the company's investments. |
Dividend income is recognised as the company's right to receive payment is established. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Other investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
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. |
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 period end and that are expected to apply to the reversal of the timing difference. |
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. |
Financial instruments |
Financial assets and liabilities are recognised by the company when it becomes a party to the contractual provisions of the financial instrument. |
Cash and cash equivalents |
These comprise cash at bank. |
Debtors |
Debtors are stated at their normal value and do not attract interest. Appropriate provision for estimated irrecoverable amounts are recognised in the profit and loss account when there is evidence of impairment. |
Trade creditors |
Trade creditors are stated at their normal value and do not attract interest. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2020 | 31,291,913 |
Additions | 9,000,000 |
Disposals | ( |
) | ( |
) | (50,263 | ) |
Revaluations | 3,796,124 |
At 31 December 2020 | 44,037,774 |
NET BOOK VALUE |
At 31 December 2020 | 44,037,774 |
At 30 June 2020 | 31,291,913 |
Cost or valuation at 31 December 2020 is represented by: |
Other |
investments |
£ |
Valuation in 2020 | 3,016,696 |
Cost | 41,021,078 |
44,037,774 |
Fixed asset investments were valued on an open market basis on 31 December 2020 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
£ | £ |
Other creditors |
RYLO LIMITED (REGISTERED NUMBER: 07852293) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2020 TO 31 DECEMBER 2020 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2020 |
£ | £ |
Bank loans |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2020 |
£ | £ |
Bank loans |
The bank loan is secured by a charge on the company's assets. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2020 |
value: | £ | £ |
Ordinary | £1 | 575 | 575 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr S R Lopez by virtue of his majority shareholding. |