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Company No: 12049761 (England and Wales)

AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD
(Formerly Education 1st Holdings Limited)

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 20,530 29,401
Investment property 4 468,474 468,474
Investments 5 101 100
489,105 497,975
Current assets
Debtors 6 6,913 3,022
Cash at bank and in hand 1,931,877 1,121,646
1,938,790 1,124,668
Creditors: amounts falling due within one year 7 ( 200,643) ( 504,569)
Net current assets 1,738,147 620,099
Total assets less current liabilities 2,227,252 1,118,074
Net assets 2,227,252 1,118,074
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 2,227,152 1,117,974
Total shareholder's funds 2,227,252 1,118,074

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Aquajas Property Investments Holdings Ltd (registered number: 12049761) were approved and authorised for issue by the Director on 10 November 2023. They were signed on its behalf by:

Mr C R Dembicki
Director
AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
AQUAJAS PROPERTY INVESTMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Aquajas Property Investments Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset 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 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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 July 2022 44,354 44,354
At 30 June 2023 44,354 44,354
Accumulated depreciation
At 01 July 2022 14,953 14,953
Charge for the financial year 8,871 8,871
At 30 June 2023 23,824 23,824
Net book value
At 30 June 2023 20,530 20,530
At 30 June 2022 29,401 29,401

4. Investment property

Investment property
£
Valuation
As at 01 July 2022 468,474
As at 30 June 2023 468,474

Valuation

The 2023 valuation was made by the director, on an open market value for existing use business.

Historic cost

If the investment properties had been accounted for under cost accounting rules, the properties would have been measured as follows:

2023 2022
£ £
Historic cost 468,474 468,474

5. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 July 2022 100
Additions 1
At 30 June 2023 101
Carrying value at 30 June 2023 101
Carrying value at 30 June 2022 100

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
30.06.2023
Ownership
30.06.2022
Sports Heroes Limited 10 Temple Back, Bristol, BS1 6FL Sports coaching Ordinary 100.00% 100.00%
The Bristol Care Group Ltd 10 Temple Back, Bristol, BS1 6FL Other residential care activities Ordinary 100.00% 0.00%

6. Debtors

2023 2022
£ £
Amounts owed by own subsidiaries 4,116 0
Prepayments 2,797 3,022
6,913 3,022

Amounts owed by own subsidiaries are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 344
Amounts owed to own subsidiaries 197,290 499,109
Amounts owed to director 636 3,672
Accruals 2,717 1,444
200,643 504,569

Amounts owed to own subsidiaries are repayable on demand and do not bear interest.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amount owed to the director 636 3,672

During the year, the director maintained a loan account with the company. Advances of £396,366 (2022: £245,876) and repayments of £399,516 (2022: £248,723) were made on this loan. At the year end the director was owed £636 (2022: £3,672) by the company. Interest was chargeable at HMRC's official rate on any overdrawn balance during the year.

Dividends of £390,000 (2022: £238,000) were paid to the director during the period.

The company has taken advantage of the exemption available under Section 1 a.c. 35 of FRS 102 to not disclose transactions within a wholly owned group.