REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 23 DECEMBER 2022 |
FOR |
REGISTERED INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 23 DECEMBER 2022 |
FOR |
REGISTERED INVESTMENTS LIMITED |
REGISTERED INVESTMENTS LIMITED (REGISTERED NUMBER: 06898307) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 23 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REGISTERED INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 23 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Ingram House |
Meridian Way |
Norwich |
Norfolk |
NR7 0TA |
REGISTERED INVESTMENTS LIMITED (REGISTERED NUMBER: 06898307) |
BALANCE SHEET |
23 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Other reserves | ( |
) | ( |
) |
Non-distributable reserves |
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 Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
REGISTERED INVESTMENTS LIMITED (REGISTERED NUMBER: 06898307) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 23 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Registered Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in Sterling, which is the functional currency of the company and rounded to the nearest £. |
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 headed by K.Scott Properties Limited. |
Turnover |
Turnover represents amounts receivable for rental, associated income and other services supplied during the period, net of value added tax. |
Tangible assets |
Tangible assets are recorded at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates used for this purpose are as follows: |
Plant and machinery - 25% reducing balance |
Investment property |
Investment properties are initially recorded at cost which includes purchase cost and any directly attributable expenditure. |
Investment properties whose fair value can be measured reliably are measured at fair value. The gain or loss on revaluation is recognised in the Statement of Comprehensive Income in the period in which it arises. Such gains or losses are transferred from retained earnings to a non-distributable reserve. |
Taxation |
Taxation for the year 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. |
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 year 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. |
3. | AVERAGE NUMBER OF EMPLOYEES |
The average number of employees during the year was NIL (2021 - NIL). |
REGISTERED INVESTMENTS LIMITED (REGISTERED NUMBER: 06898307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 23 DECEMBER 2022 |
4. | TANGIBLE ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 24 December 2021 |
and 23 December 2022 |
DEPRECIATION |
At 24 December 2021 |
Charge for year |
At 23 December 2022 |
NET BOOK VALUE |
At 23 December 2022 |
At 23 December 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 24 December 2021 |
Revaluations | (535,000 | ) |
At 23 December 2022 |
NET BOOK VALUE |
At 23 December 2022 |
At 23 December 2021 |
The investment properties were valued on an open market basis on 23 March 2023 by Allsop LLP (RICS), a Property Consultant. |
The historical cost of the investment properties, was £7,415,750 (2021 - £7,415,750). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
REGISTERED INVESTMENTS LIMITED (REGISTERED NUMBER: 06898307) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 23 DECEMBER 2022 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
9. | ULTIMATE CONTROLLING PARTY |
K.Scott Properties Limited is the immediate and ultimate parent company and is the company of the smallest and largest group of undertakings for which group financial statements are drawn up. Copies of the financial statements of K.Scott Properties Limited are publicly available from Companies House, Crown Way, Cardiff, CF14 3UZ. |