Company registration number 13337367 (England and Wales)
XIII INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
XIII INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
XIII INVESTMENTS LTD
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
313
Investment property
4
337,341
337,654
Current assets
Debtors
5
1,110
Investments
6
73,000
Cash at bank and in hand
4,528
515
77,528
1,625
Creditors: amounts falling due within one year
7
(185,866)
(2,140)
Net current liabilities
(108,338)
(515)
Total assets less current liabilities
229,316
(515)
Creditors: amounts falling due after more than one year
8
(246,412)
Net liabilities
(17,096)
(515)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(17,196)
(615)
Total equity
(17,096)
(515)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
XIII INVESTMENTS LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 3 April 2024
Mr A J Suchet
Director
Company registration number 13337367 (England and Wales)
XIII INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information
XIII Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Sobell Rhodes LLP, The Kinetic Centre, Theobald Street, Elstree, Borehamwood, Hertfordshire, United Kingdom, WD6 4PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
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 financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following to uncertainty over the current economic conditions due to worldwide increasing rate of inflation and interest rates. true
As a result of their review, the directors have taken appropriate measures to enable them to have a reasonable expectation that the company will have sufficient working capital for a period of at least 12 months from the date these financial statements have been approved.
On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial statements on a going concern basis.
1.3
Turnover
The turnover shown in the profit and loss account represents rental income from the company's investment properties.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing balance method.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
XIII INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.6
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 current liabilities.
1.7
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
XIII INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2022
Additions
334
At 30 April 2023
334
Depreciation and impairment
At 1 May 2022
Depreciation charged in the year
21
At 30 April 2023
21
Carrying amount
At 30 April 2023
313
At 30 April 2022
4
Investment property
2023
£
Fair value
At 1 May 2022
Additions
337,341
At 30 April 2023
337,341
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,110
6
Current asset investments
2023
2022
£
£
Other investments
73,000
XIII INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
185,866
2,140
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other loans
246,412
The loan is secured by way of a first charge over the company's investment properties and contains a negative pledge.