Company Registration No. 08625183 (England and Wales)
RIGBY CAPITAL INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
RIGBY CAPITAL INVESTMENTS LTD
COMPANY INFORMATION
Directors
Mr J P Rigby
Mr S P Rigby
Company number
08625183
Registered office
80 Brook Street
Mayfair
London
W1K 5EG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
UBS AG
London Branch
1 Finsbury Avenue
London
EC2M 2AN
Lloyds TSB Bank plc
125 Colmore Row
4th Floor
Birmingham
B3 3SF
RIGBY CAPITAL INVESTMENTS LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
RIGBY CAPITAL INVESTMENTS LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RIGBY CAPITAL INVESTMENTS LTD FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rigby Capital Investments Ltd for the year ended 31 March 2023 which comprise, the 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Rigby Capital Investments Ltd, 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 Rigby Capital Investments Ltd and state those matters that we have agreed to state to the Board of Directors of Rigby Capital Investments Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rigby Capital Investments Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Rigby Capital Investments Ltd 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 Rigby Capital Investments Ltd. You consider that Rigby Capital Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Rigby Capital Investments Ltd. 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.

Ormerod Rutter Limited
26 September 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
RIGBY CAPITAL INVESTMENTS LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
5,750,000
5,750,000
Current assets
Debtors
4
20,000,000
20,000,000
Investments
5
5,821,291
3,641,310
Cash at bank and in hand
10,433,542
12,440,136
36,254,833
36,081,446
Creditors: amounts falling due within one year
6
(138,288)
(67,334)
Net current assets
36,116,545
36,014,112
Total assets less current liabilities
41,866,545
41,764,112
Creditors: amounts falling due after more than one year
7
(2,875,000)
(2,875,000)
Provisions for liabilities
8
(13,117)
(32,856)
Net assets
38,978,428
38,856,256
Capital and reserves
Called up share capital
10
770
770
Capital redemption reserve
600
600
Profit and loss reserves
38,977,058
38,854,886
Total equity
38,978,428
38,856,256

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

RIGBY CAPITAL INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2023 and are signed on its behalf by:
Mr S P Rigby
Director
Company Registration No. 08625183
RIGBY CAPITAL INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Rigby Capital Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 80 Brook Street, Mayfair, London, W1K 5EG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Dividend income from investments and coupons on bonds are recognised when the shareholder's right to receive payment has been established.

 

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

RIGBY CAPITAL INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2021 - 2).

3
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
5,750,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in July 2018 by MJ Group International Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. There were no significant assumptions used by the valuer in determining the fair value. It is in the opinion of the directors that the valuation has not significantly changed during the financial year.

4
Debtors
2023
2022
£
£
Amounts falling due after more than one year:
Other debtors
20,000,000
20,000,000
5
Current asset investments
2023
2022
£
£
Other investments
5,821,291
3,641,310

The fair value of unlisted investments was calculated by the counterparties which issued the relevant securities.

RIGBY CAPITAL INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
129,783
60,075
Other creditors
8,505
7,259
138,288
67,334
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,875,000
2,875,000
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
13,117
32,856
9
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
2,875,000
2,875,000
The bank loan is secured by way of a fixed charge over the investment property held by the company.
10
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
38,476 'A' Ordinary shares of 1p each
385
385
38,476 'B' Ordinary shares of 1p each
385
385
770
770
11
Ultimate controlling party

There is no ultimate controlling party.

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