IRIS Accounts Production v23.3.1.45 11872664 director 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118726642022-03-31118726642023-03-31118726642022-04-012023-03-31118726642021-03-31118726642021-04-012022-03-31118726642022-03-3111872664ns10:Originalns15:EnglandWales2022-04-012023-03-3111872664ns14:PoundSterlingns10:Original2022-04-012023-03-3111872664ns10:Originalns10:Director12022-04-012023-03-3111872664ns10:Original2022-04-012023-03-3111872664ns10:Original2023-03-3111872664ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3111872664ns10:Originalns10:SmallEntities2022-04-012023-03-3111872664ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3111872664ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3111872664ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3111872664ns10:Originalns10:FullAccounts2022-04-012023-03-3111872664ns10:Original2021-04-012022-03-3111872664ns10:Originalns10:RegisteredOffice2022-04-012023-03-3111872664ns10:Original2022-03-3111872664ns10:Originalns5:CurrentFinancialInstruments2023-03-3111872664ns10:Originalns5:CurrentFinancialInstruments2022-03-3111872664ns10:Originalns5:Non-currentFinancialInstruments2023-03-3111872664ns10:Originalns5:Non-currentFinancialInstruments2022-03-3111872664ns5:ShareCapitalns10:Original2023-03-3111872664ns5:ShareCapitalns10:Original2022-03-3111872664ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3111872664ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3111872664ns10:Original2022-03-3111872664ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3111872664ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3111872664ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3111872664ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-3111872664ns5:Securedns10:Original2023-03-3111872664ns5:Securedns10:Original2022-03-31
REGISTERED NUMBER: 11872664 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

St James Student Investments Limited

St James Student Investments Limited (Registered number: 11872664)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


St James Student Investments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr S H Patel





REGISTERED OFFICE: 17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN





REGISTERED NUMBER: 11872664 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

St James Student Investments Limited (Registered number: 11872664)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 2,521,236 2,521,236
2,521,236 2,521,236

CURRENT ASSETS
Debtors 6 22,620 12,171
Cash at bank 18,120 18,160
40,740 30,331
CREDITORS
Amounts falling due within one year 7 1,046,897 1,014,332
NET CURRENT LIABILITIES (1,006,157 ) (984,001 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,515,079

1,537,235

CREDITORS
Amounts falling due after more than one
year

8

1,727,210

1,711,731
NET LIABILITIES (212,131 ) (174,496 )

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account (212,231 ) (174,596 )
(212,131 ) (174,496 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 August 2023 and were signed by:





Mr S H Patel - Director


St James Student Investments Limited (Registered number: 11872664)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

St James Student Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the recognition of certain assets measured at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rental income receivable with respect to the letting of the company's investment property.

Investment property
Investment property is included at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss along with the associated deferred tax.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Short term trade creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

St James Student Investments Limited (Registered number: 11872664)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,521,236
NET BOOK VALUE
At 31 March 2023 2,521,236
At 31 March 2022 2,521,236

The fair value of the property at 31 March 2023 has been arrived at on the basis of a valuation carried out by the director who is not a professionally qualified valuer.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,650 -
Other debtors 11,970 12,171
22,620 12,171

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 479 2,817
Amounts owed to group undertakings 862,054 828,369
Other creditors 184,364 183,146
1,046,897 1,014,332

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,727,210 1,711,731

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,727,210 1,711,731

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,727,210 1,711,731

The bank loan is secured by a fixed and floating charge over the investment property of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director of the company has provided a personal guarantee in respect of the company's bank loan.