Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302023-04-3002022-05-01false0truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 761826 2022-05-01 2023-04-30 761826 2021-05-01 2022-04-30 761826 2023-04-30 761826 2022-04-30 761826 2021-05-01 761826 c:CompanySecretary1 2022-05-01 2023-04-30 761826 c:Director1 2022-05-01 2023-04-30 761826 c:Director2 2022-05-01 2023-04-30 761826 c:Director3 2022-05-01 2023-04-30 761826 c:Director4 2022-05-01 2023-04-30 761826 c:RegisteredOffice 2022-05-01 2023-04-30 761826 d:CurrentFinancialInstruments 2023-04-30 761826 d:CurrentFinancialInstruments 2022-04-30 761826 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 761826 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 761826 d:ShareCapital 2022-05-01 2023-04-30 761826 d:ShareCapital 2023-04-30 761826 d:ShareCapital 2021-05-01 2022-04-30 761826 d:ShareCapital 2022-04-30 761826 d:ShareCapital 2021-05-01 761826 d:InvestmentPropertiesRevaluationReserve 2022-05-01 2023-04-30 761826 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 761826 d:RetainedEarningsAccumulatedLosses 2023-04-30 761826 d:RetainedEarningsAccumulatedLosses 2021-05-01 2022-04-30 761826 d:RetainedEarningsAccumulatedLosses 2022-04-30 761826 d:RetainedEarningsAccumulatedLosses 2021-05-01 761826 c:FRS102 2022-05-01 2023-04-30 761826 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 761826 c:FullAccounts 2022-05-01 2023-04-30 761826 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 761826 d:Subsidiary1 2022-05-01 2023-04-30 761826 d:Subsidiary1 1 2022-05-01 2023-04-30 761826 d:Subsidiary2 2022-05-01 2023-04-30 761826 d:Subsidiary2 1 2022-05-01 2023-04-30 761826 c:Consolidated 2023-04-30 761826 c:ConsolidatedGroupCompanyAccounts 2022-05-01 2023-04-30 761826 2 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 761826










REGISTERED HOLDINGS LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023



 
REGISTERED HOLDINGS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mark Pears CBE 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 




COMPANY SECRETARY
William Bennett



REGISTERED NUMBER
761826



REGISTERED OFFICE
Ground Floor
30 City Road

London

EC1Y 2AB





 
REGISTERED HOLDINGS LIMITED
 

CONTENTS



Page
Directors' Report
1
Consolidated Statement of Comprehensive Income
2
Consolidated Statement of Financial Position
3 - 4
Company Statement of Financial Position
5
Consolidated Statement of Changes in Equity
6
Company Statement of Changes in Equity
7
Notes to the Financial Statements
8 - 18


 
REGISTERED HOLDINGS LIMITED
 

 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2023

The directors present their report and the financial statements for the year ended 30 April 2023.

PRINCIPAL ACTIVITIES

The principal activities of the group are property dealers and investors.

DIRECTORS

The directors who served during the year were:

Mark Pears CBE 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 

SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 15 November 2023 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
REGISTERED HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2023

2023
2022
Note
£
£

  

Turnover
 3 
732,748
1,245,018

Cost of sales
 3 
(380,933)
(375,329)

GROSS PROFIT
 3 
351,815
869,689

Administrative expenses
  
(70,800)
(68,400)

Profit on sale of investment properties
 5 
(112,190)
321,103

Fair value movements
 9 
391,933
2,157,674

OPERATING PROFIT
  
560,758
3,280,066

Interest receivable and similar income
  
790,510
260,361

Interest payable and similar charges
 6 
(294,099)
(309,230)

PROFIT BEFORE TAX
  
1,057,169
3,231,197

Tax on profit
 7 
(183,972)
(1,105,804)

PROFIT FOR THE YEAR
  
873,197
2,125,393

  

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
873,197
2,125,393

PROFIT FOR THE YEAR ATTRIBUTABLE TO:
  

Owners of the parent Company
  
873,197
2,125,393

  
873,197
2,125,393

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO:
  

Owners of the parent Company
  
873,197
2,125,393

  
873,197
2,125,393

The notes on pages 8 to 18 form part of these financial statements.

Page 2

 
REGISTERED HOLDINGS LIMITED
REGISTERED NUMBER: 761826

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Investment property
 9 
17,486,784
18,667,351

  
17,486,784
18,667,351

CURRENT ASSETS
  

Stocks
 10 
144,275
144,365

Debtors
 11 
22,727,197
21,418,085

Cash at bank and in hand
  
221,554
25,727

  
23,093,026
21,588,177

Creditors: amounts falling due within one year
 12 
(5,259,691)
(5,702,260)

NET CURRENT ASSETS
  
 
 
17,833,335
 
 
15,885,917

TOTAL ASSETS LESS CURRENT LIABILITIES
  
35,320,119
34,553,268

PROVISIONS FOR LIABILITIES
  

Deferred taxation
 13 
(2,023,265)
(2,129,611)

  
 
 
(2,023,265)
 
 
(2,129,611)

NET ASSETS
  
33,296,854
32,423,657


CAPITAL AND RESERVES
  

Called up share capital 
  
120
120

Investment property revaluation reserve
 14 
7,106,310
7,476,139

Profit and loss account
 14 
26,190,424
24,947,398

EQUITY ATTRIBUTABLE TO OWNERS OF THE PARENT COMPANY
  
33,296,854
32,423,657

TOTAL EQUITY
  
33,296,854
32,423,657


Page 3

 
REGISTERED HOLDINGS LIMITED
REGISTERED NUMBER: 761826

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2023.




David Pears
Director

The notes on pages 8 to 18 form part of these financial statements.

Page 4

 
REGISTERED HOLDINGS LIMITED
REGISTERED NUMBER: 761826

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Investments
 8 
4
4

  
4
4

CURRENT ASSETS
  

Stocks
 10 
144,275
144,365

Debtors
 11 
10,357,505
9,558,617

Cash at bank and in hand
  
1,182
6,722

  
10,502,962
9,709,704

Creditors: amounts falling due within one year
 12 
(616,625)
(115,938)

NET CURRENT ASSETS
  
 
 
9,886,337
 
 
9,593,766

TOTAL ASSETS LESS CURRENT LIABILITIES
  
9,886,341
9,593,770

  

  

NET ASSETS
  
9,886,341
9,593,770


CAPITAL AND RESERVES
  

Called up share capital 
  
120
120

Profit and loss account
  
9,886,221
9,593,650

TOTAL EQUITY
  
9,886,341
9,593,770


The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 November 2023.


David Pears
Director

The notes on pages 8 to 18 form part of these financial statements.

Page 5

 
REGISTERED HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
120
7,476,139
24,947,398
32,423,657


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
-
873,197
873,197

Transfer realised gains to retained earnings
-
(867,086)
867,086
-

Deferred tax movements
-
106,350
(106,350)
-

Transfer revaluation during the year
-
390,907
(390,907)
-


OTHER RESERVE MOVEMENTS FOR THE YEAR
-
(369,829)
369,829
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
(369,829)
1,243,026
873,197


AT 30 APRIL 2023
120
7,106,310
26,190,424
33,296,854



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2022


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2021
120
6,760,388
23,537,756
30,298,264


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year

-
-
2,125,393
2,125,393

Transfer realised gains to retained earnings
-
(581,864)
581,864
-

Deferred tax movements
-
(804,191)
804,191
-

Transfer revaluation during the year
-
2,101,806
(2,101,806)
-


OTHER RESERVE MOVEMENTS FOR THE YEAR
-
715,751
(715,751)
-


TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
715,751
1,409,642
2,125,393


AT 30 APRIL 2022
120
7,476,139
24,947,398
32,423,657


The notes on pages 8 to 18 form part of these financial statements.

Page 6

 
REGISTERED HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2022
120
9,593,650
9,593,770


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
292,571
292,571
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
292,571
292,571


AT 30 APRIL 2023
120
9,886,221
9,886,341



COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2021
120
9,073,128
9,073,248


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
520,522
520,522
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
520,522
520,522


AT 30 APRIL 2022
120
9,593,650
9,593,770


The notes on pages 8 to 18 form part of these financial statements.

Page 7

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


GENERAL INFORMATION

Registered Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 30 City Road, London, EC1Y 2AB. The principal place of business is Haskell House, 152 West End Lane, London NW6 1SD.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The group's functional and presentational currency is GBP and rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.
The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated income statement from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

  
2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the rents receivable and the sale of property trading stock.

 
2.5

INTEREST INCOME

Interest income is recognised in the Consolidated statement of comprehensive income using the effective interest method.

Page 8

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by our directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific assets. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.7

STOCKS

Stocks of properties are valued at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, Stocks are assessed for impairment. If property is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in Income statement.
All repairs, maintenance costs and renewals are written off as incurred.
Certain refurbishment costs which are part of major property refurbishment programmes may, depending on the nature of the works being undertaken, be capitalised in the Statement of financial position as part of property stock.

 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

CREDITORS

Short term creditors are measured at the transaction price.

 
2.10

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the Statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.11

FINANCIAL INSTRUMENTS

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of Financial Position when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Page 9

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.11
FINANCIAL INSTRUMENTS (CONTINUED)


Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using
Page 10

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.11
FINANCIAL INSTRUMENTS (CONTINUED)

the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.



Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.


3.


TURNOVER

All turnover arose within the United Kingdom.

Turnover
2023
2022
Cost of sales
 2023
2022
Gross profit
2023
2022
        £
        £
        £
        £
        £
        £

Sales of trading  stock

-

506,250

(49,905)
 
(43,471)
 
(49,905)

462,779

Rental income

732,748

738,768

(331,028)
 
(331,858)
 
401,720

406,910

Total

732,748

1,245,018

(380,933)
 
(375,329)
 
351,815

869,689


Cost of sales of rental income comprises property outgoings.

Page 11

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
3
3


5.


PROFIT ON SALE OF INVESTMENT PROPERTIES

2023
2022
£
£



Sale of investment properties
1,460,310
1,480,603

Historical cost

(705,414)
(577,636)

754,896
902,967

Prior years fair value surplus realised

(867,086)
(581,864)

(112,190)
321,103


6.


INTEREST PAYABLE AND SIMILAR CHARGES

2023
2022
£
£


On sundry loans
294,099
309,230

294,099
309,230

Page 12

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


TAXATION


2023
2022
£
£

CORPORATION TAX


Current tax on profits for the year
290,322
203,970

Adjustments in respect of previous periods
-
(500)


290,322
203,470


TOTAL CURRENT TAX
290,322
203,470

DEFERRED TAX


Origination and reversal of timing differences
(106,350)
804,191

Tax on surplus realised
-
98,143

TOTAL DEFERRED TAX
(106,350)
902,334


TAXATION ON PROFIT ON ORDINARY ACTIVITIES
183,972
1,105,804
Page 13

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
 
7.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 19.5% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
1,057,169
3,231,197


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19.5% (2022 - 19%)
206,148
613,927

EFFECTS OF:


Short term timing difference leading to a decrease in taxation
(61)
-

Non-taxable income
-
(10,615)

Book loss/(profit) on chargeable assets
21,877
(61,009)

Capital gains
138,827
159,153

Timing differences leading to an (decrease)/increase in taxation
(106,350)
804,191

Other differences leading to a decrease in the tax charge
(43)
-

Valuation gains not taxable
(76,426)
(399,343)

Prior year adjustment
-
(500)

TOTAL TAX CHARGE FOR THE YEAR
183,972
1,105,804


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 14

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

8.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



COST OR VALUATION


At 1 May 2022
4



At 30 April 2023
4





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the company:



Name

Country of incorporation

Principal activity

Class of shares

Holding

REH Property Investment Co. Limited
England
Property Investment
Ordinary
100
Towncore Properties Limited
England
Property Investment
Ordinary
100





Page 15

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


INVESTMENT PROPERTY

Group


Freehold investment property

£



VALUATION


At 1 May 2022
18,667,351


Disposals
(1,572,500)


Fair value movements
391,933



AT 30 APRIL 2023
17,486,784

The 2023 valuations were made by our directors, on an open market value for existing use basis.



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

2023
2022
£
£


Historic cost
8,357,209
9,061,600

8,357,209
9,061,600

The 2023 valuations were made by our directors, on an open market value for existing use basis.


10.


STOCKS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Freehold and leasehold property
144,275
144,365
144,275
144,365

144,275
144,365
144,275
144,365



11.


DEBTORS

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£



Amounts owed by group undertakings
-
-
6,060,202
5,850,119

Sundry loans
22,594,843
21,290,883
4,277,494
3,697,543

Other debtors
132,354
127,202
19,809
10,955

22,727,197
21,418,085
10,357,505
9,558,617


Page 16

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

12.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Sundry loans
4,260,721
5,265,266
-
-

Corporation tax
218,008
240,491
57,891
106,988

Other creditors
643,281
60,240
551,893
2,138

Accruals and deferred income
137,681
136,263
6,841
6,812

5,259,691
5,702,260
616,625
115,938



13.


DEFERRED TAXATION


Group



2023
2022


£

£






At beginning of year
(2,129,615)
(1,325,420)


Charged to income statement
106,350
(804,191)



AT END OF YEAR
(2,023,265)
(2,129,611)

The provision for deferred taxation is made up as follows:

Group
Group
2023
2022
£
£


Tax on revaluation of investment properties
2,023,265
2,129,611

2,023,265
2,129,611


14.


RESERVES

Investment property revaluation reserve

The investment property revaluation reserve includes all current and prior year movements.

Profit & loss account

The profit and loss account includes all current and prior year retained profits and losses.

Page 17

 
REGISTERED HOLDINGS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

15.


RELATED PARTY TRANSACTIONS

The group has taken advantage of the exemptions from disclosure available to subsidiary undertakings under FRS102 Section 1A, paragraph 1.AC.35 in connection with intra group transactions. 
During the year there were the following transactions with companies and entities in which the directors, Mark Pears CBE, Sir Trevor Pears CMG and David Pears have an interest.


2023
2022
£
£

Management fees payable
70,800
68,400
Loan interest payable to WPG Finance Limited
294,098
309,230
Loan interest receivable from The William Pears Group of Companies Limited
771,807
260,359
Loan interest receivable from WPG Treasury Limited
-
-

At the year end there were the following balances with companies and entities in which the directors, Mark Pears CBE, Sir Trevor Pears CMG and David Pears have an interest.

2023
2022
£
£



Loan due from The William Pears Group of Companies Limited
22,560,053
21,290,685

Loan due from WPG Treasury Limited
35,069
161

Loan due to The William Pears Group of Companies Limited
-
36

Loan due to WPG Finance Limited
4,260,721
5,265,230

Balance due from Hamways Limited
23,261
32,292

The group received estate agents services from a partnership and a company in which the directors have an interest, the cost of which amounted to £11,400 (2022 - £11,760). 

Page 18