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REGISTERED NUMBER: 10081396 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2023

for

Student Tribe Investment Company Ltd

Student Tribe Investment Company Ltd (Registered number: 10081396)






Contents of the Financial Statements
for the Year Ended 30th June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Student Tribe Investment Company Ltd

Company Information
for the Year Ended 30th June 2023







DIRECTORS: C N F MacInnes
W Meadon
R M Morley
J Marking





REGISTERED OFFICE: 34-35 Clarges Street
Mayfair
London
W1J 7EJ





REGISTERED NUMBER: 10081396 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Student Tribe Investment Company Ltd (Registered number: 10081396)

Balance Sheet
30th June 2023

30/6/23 30/6/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 78,144 118,969
Tangible assets 5 130,026 155,326
Investments 6 1 1
Investment property 7 20,912,751 20,109,678
21,120,922 20,383,974

CURRENT ASSETS
Debtors 8 3,036,708 2,215,600
Prepayments and accrued income 28,248 26,107
Cash at bank 406,852 1,300,584
3,471,808 3,542,291
CREDITORS
Amounts falling due within one year 9 217,793 164,132
NET CURRENT ASSETS 3,254,015 3,378,159
TOTAL ASSETS LESS CURRENT LIABILITIES 24,374,937 23,762,133

CREDITORS
Amounts falling due after more than one year 10 (10,148,013 ) (9,937,413 )

PROVISIONS FOR LIABILITIES (563,586 ) (433,133 )

ACCRUALS AND DEFERRED INCOME (115,391 ) (117,749 )
NET ASSETS 13,547,947 13,273,838

CAPITAL AND RESERVES
Called up share capital 12 3,110,599 3,110,599
Share premium 7,992,268 7,992,268
Fair value reserve 13 1,593,239 1,720,698
Retained earnings 851,841 450,273
SHAREHOLDERS' FUNDS 13,547,947 13,273,838

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Student Tribe Investment Company Ltd (Registered number: 10081396)

Balance Sheet - continued
30th June 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th March 2024 and were signed on its behalf by:





C N F MacInnes - Director


Student Tribe Investment Company Ltd (Registered number: 10081396)

Notes to the Financial Statements
for the Year Ended 30th June 2023

1. STATUTORY INFORMATION

Student Tribe Investment Company Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Transaction costs are amortised evenly over the life of the transaction.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historic cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery - 20%

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised through profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is carried at fair value determined annually 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 asset. No depreciation is provided. Changes in fair value are recognised through profit or loss as other operating income.

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


Student Tribe Investment Company Ltd (Registered number: 10081396)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st July 2022 269,441
Additions 17,504
At 30th June 2023 286,945
AMORTISATION
At 1st July 2022 150,472
Charge for year 58,329
At 30th June 2023 208,801
NET BOOK VALUE
At 30th June 2023 78,144
At 30th June 2022 118,969

Student Tribe Investment Company Ltd (Registered number: 10081396)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022 207,274
Additions 18,161
At 30th June 2023 225,435
DEPRECIATION
At 1st July 2022 51,948
Charge for year 43,461
At 30th June 2023 95,409
NET BOOK VALUE
At 30th June 2023 130,026
At 30th June 2022 155,326

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st July 2022
and 30th June 2023 1
NET BOOK VALUE
At 30th June 2023 1
At 30th June 2022 1

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022 20,109,678
Additions 803,073
At 30th June 2023 20,912,751
NET BOOK VALUE
At 30th June 2023 20,912,751
At 30th June 2022 20,109,678

Investment property was valued by Student Tribe Management Company Ltd on 13 October 2023. The valuation takes future market rate rental income figures into account. On 23 June 2021 an external inspection of each property held at that date was undertaken alongside an internal inspection of 59.5% of the properties by Allsop LLP. The valuation undertaken as at 30 June 2023 used a similar method to that used by Allsop LLP. Consideration of condition of the value added from additions and renovations made in the year were taken into account.

If investment property had not been revalued it would have been held at historical cost less accumulated depreciation of £18,788,432 (2022 - £17,985,360).

Student Tribe Investment Company Ltd (Registered number: 10081396)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade debtors 23,610 8,781
Other debtors 3,013,098 2,206,819
3,036,708 2,215,600

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/23 30/6/22
£    £   
Trade creditors 22,579 22,296
Taxation and social security 91,748 58,200
Other creditors 103,466 83,636
217,793 164,132

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/06/2330/06/22
£   £   
Creditors: amounts falling due after more than one year, less than five years10,148,0139,937,413
Creditors: amounts falling due after more than five years --
10,148,0139,937,413

11. SECURED DEBTS

The following secured debts are included within creditors:

30/6/23 30/6/22
£    £   
Mortgages 10,148,013 9,937,413

Amounts included within non-current creditors relate to mortgages secured against the Investment Properties held by the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/6/23 30/6/22
value: £    £   
10,368,659 Ordinary £0.30 £0.3 3,110,598 3,110,598
1 Ordinary A £1 1 1
3,110,599 3,110,599

13. RESERVES
Fair
value
reserve
£   
At 1st July 2022 1,720,698
Transfer to fair value reserve (127,459 )

At 30th June 2023 1,593,239

Student Tribe Investment Company Ltd (Registered number: 10081396)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

14. RELATED PARTY DISCLOSURES

Student Tribe Management Company Ltd, Student Tribe Ltd and Student Tribe Acquisition Company Ltd are related parties of Student Tribe Investment Company Ltd because Calum MacInnes is a director of each company.

During the year, Student Tribe Management Company Ltd invoiced the company for services to the value of £231,213 (2022 - £289,144). At the balance sheet date £16,002 (2022 - £14,101) remained outstanding. At the balance sheet date, Student Tribe Management Company Ltd owed the company £34 (2022 - £nil) in respect of expenses paid on their behalf.

During the year, Student Tribe Acquisition Company Ltd invoiced the company for services to the value of £nil (2022 - £4,817). At the balance sheet date £nil (2022 - £nil) remained outstanding.

At the balance sheet date, Student Tribe Ltd owed the company £nil (2022 - £nil) in respect of expenses paid on their behalf.

Student Tribe Investment Company Ltd acquired 100% of the share capital of Student Tribe (Lincoln) Ltd on 6 September 2021. As at the balance sheet date, included in other debtors, Student Tribe (Lincoln) Ltd owed the company £3,001,716 (2022 - £2,165,524) in respect of monies lent and expenses paid on their behalf. During the year, Student Tribe Investment Company Ltd invoiced Student Tribe (Lincoln) Ltd for reimbursed expenses to the value of £4,624 (2022 - £3,377) of which £nil (2022 - £nil) remains outstanding at the balance sheet date.

Except for the balances disclosed above, there were no other balances outstanding at the balance sheet date in 2022 or 2023. All of these transactions were at arm's length.

15. POST BALANCE SHEET EVENTS

At the Board Meeting on 25 October 2023 it was proposed and agreed that Student Tribe Investment Company Ltd would pay a dividend of £nil (2022 - nil) per share in respect of the financial year ended 30 June 2023. The dividend totals £nil (2022 - £nil).