Registered number |
ARA (Bristol) Ltd t/a Adams Root & Associates |
Chartered Certified Accountants |
Bristol |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
|||||||
Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
||||
Net current assets | |||||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
||||
Provisions for liabilities | ( |
( |
|||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Fair value reserve | 9 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
A J Robb | |||||||
Director | |||||||
Approved by the board on |
|||||||
Notes to the Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Investments | ||||||||
Freehold investment property is included at fair value within tangible fixed assets, changes in fair value are recognised in the profit and loss account. Deferred taxation is provided on the gains at the rate expected to apply when the property is sold. |
||||||||
Taxation | ||||||||
Provisions | ||||||||
Foreign currency translation | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Investment property | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 April 2022 | ||||||||
At 31 March 2023 | ||||||||
Depreciation | ||||||||
At 31 March 2023 | - | |||||||
Net book value | ||||||||
At 31 March 2023 | ||||||||
At 31 March 2022 | ||||||||
Investment property: | 2023 | 2022 | ||||||
£ | £ | |||||||
Historical cost | 1,108,094 | 1,108,094 | ||||||
Cumulative depreciation based on historical cost | - | - | ||||||
The freehold land and buildings acquired by the company are included as investment property and were valued by the directors, to the fair value reflecting existing use on 31 March 2023. The revaluation created a fair value reserve on which deferred tax has been provided in these accounts. | ||||||||
4 | Investments | |||||||
Investments in | Other | Other | Total | |||||
subsidiary | Loans | investments | ||||||
undertakings | ||||||||
£ | £ | £ | £ | |||||
Cost | ||||||||
At 1 April 2022 | 1,684,389 | 5,850,803 | ||||||
Additions | - | - | 46,383 | |||||
Exchange gain/(loss) | - | 60,652 | - | 60,652 | ||||
At 31 March 2023 | 1,745,041 | 5,957,838 | ||||||
Impairment | ||||||||
At 1 April 2022 | - | - | (280,783) | (280,783) | ||||
Movement on impairment | - | - | 138,123 | 138,123 | ||||
At 31 March 2023 | - | - | (142,660) | (142,660) | ||||
Carrying amount | ||||||||
At 31 March 2023 | 52 | 1,745,041 | 4,355,405 | 6,100,498 | ||||
At 1 April 2022 | 52 | 1,684,389 | 4,447,145 | 6,131,586 | ||||
Historical cost | ||||||||
At 1 April 2022 | 52 | 1,678,511 | 4,166,362 | 5,844,925 | ||||
At 31 March 2023 | 52 | 1,678,511 | 4,212,745 | 5,891,308 | ||||
In January 2017 Weblease Limited advanced three loans to Bristol Student Property Limited. The three loans consisted of a Euro loan of 439,435 (£386,983), a Swiss Franc loan of CHF736,129 (£650,870) and a GBP loan of £707,188. The loans are interest-only loans and have a repayment date of 31 January 2027 and carry an interest rate of 6% per annum which is paid bi-annually. Other investments include funds invested by Weblease Limited in listed securities. |
||||||||
5 | Debtors | 2023 | 2022 | |||||
£ | £ | |||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | - | |||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Amounts owed to group undertakings and undertakings in which the company has a participating interest | ||||||||
On 31 January 2017, Weblease Limited entered into 2 new loans. The loans were entered into with Handelsbanken. At 31 March 2023 the loan balances included a Euro loan of EUR384,000 (£333,888) and a Swiss Franc loan of CHF1,031,796 (£913,037). Regrading the two foreign currency loans, amounts of Euro 5,000 and CHF12,913 are repayable quarterly until 31 January 2027, on the respective foreign currency loans. The remaining balances on the foreign loans after all quarterly repayments, are repayable on maturity. Interest is charged; on the Euro loan at 2.5% over the Euro Inter Bank Offer Rate and on the Swiss Franc loan at 2.6% fixed for the term of the loan. Interest is payable quarterly. A further loan of £900,000 was advanced by Roseland Investments Limited which is a 100% owned subsidiary of Weblease Limited. This loan is repayable on 31 January 2027, Interest is charged on the loan at 0% per annum. A further loan of £2,135,000 was advanced by Roseland Investments Limited. This loan is repayable by 31 March 2032, interest is charged on the loan at 0% per annum. |
||||||||
8 | Loans | 2023 | 2022 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Amounts payable otherwise than by instalment falling due for payment after more than five years | 2,135,000 | 1,935,000 | ||||||
Secured bank loans | 1,246,925 | 1,229,185 | ||||||
9 | Fair value reserve | 2023 | 2022 | |||||
£ | £ | |||||||
At 1 April 2022 | ||||||||
At 31 March 2023 | ||||||||
10 | Related party transactions | |||||||
Transaction value | Balance owed by/(owed to) | |||||||
2023 | 2022 | 2023 | 2022 | |||||
£ | £ | £ | £ | |||||
Roseland Investments Limited | - | - | (3,035,000) | (2,835,000) | ||||
The company owns 100% of Roseland Investments Limited, a company in which A J Robb is a director. The terms of the loans are detailed in notes 6 and 7. | ||||||||
11 | Controlling party | |||||||
12 | Other information | |||||||
Weblease Limited is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
86 Shirehampton Road | ||||||||
Stoke Bishop | ||||||||
Bristol | ||||||||
BS9 2DR |