Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Lorraine Rosemary Wright 02/08/2012 02 April 2024 The principal activity of the Company during the financial year continues to be that of property rental. SC429572 2023-07-31 SC429572 bus:Director1 2023-07-31 SC429572 2022-07-31 SC429572 core:CurrentFinancialInstruments 2023-07-31 SC429572 core:CurrentFinancialInstruments 2022-07-31 SC429572 core:ShareCapital 2023-07-31 SC429572 core:ShareCapital 2022-07-31 SC429572 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC429572 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC429572 core:LandBuildings 2022-07-31 SC429572 core:FurnitureFittings 2022-07-31 SC429572 core:ComputerEquipment 2022-07-31 SC429572 core:LandBuildings 2023-07-31 SC429572 core:FurnitureFittings 2023-07-31 SC429572 core:ComputerEquipment 2023-07-31 SC429572 bus:OrdinaryShareClass1 2023-07-31 SC429572 2022-08-01 2023-07-31 SC429572 bus:FilletedAccounts 2022-08-01 2023-07-31 SC429572 bus:SmallEntities 2022-08-01 2023-07-31 SC429572 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC429572 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC429572 bus:Director1 2022-08-01 2023-07-31 SC429572 core:LandBuildings core:TopRangeValue 2022-08-01 2023-07-31 SC429572 core:FurnitureFittings core:TopRangeValue 2022-08-01 2023-07-31 SC429572 core:ComputerEquipment core:TopRangeValue 2022-08-01 2023-07-31 SC429572 2021-08-01 2022-07-31 SC429572 core:LandBuildings 2022-08-01 2023-07-31 SC429572 core:FurnitureFittings 2022-08-01 2023-07-31 SC429572 core:ComputerEquipment 2022-08-01 2023-07-31 SC429572 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 SC429572 bus:OrdinaryShareClass1 2021-08-01 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC429572 (Scotland)

LRW INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH THE REGISTRAR

LRW INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023

Contents

LRW INVESTMENTS LIMITED

BALANCE SHEET

AS AT 31 JULY 2023
LRW INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,778 1,959
Investment property 4 1,140,458 1,140,458
1,142,236 1,142,417
Current assets
Debtors 5 321 0
Cash at bank and in hand 6 47,192 32,832
47,513 32,832
Creditors: amounts falling due within one year 7 ( 1,071,939) ( 1,068,877)
Net current liabilities (1,024,426) (1,036,045)
Total assets less current liabilities 117,810 106,372
Net assets 117,810 106,372
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 117,710 106,272
Total shareholders' funds 117,810 106,372

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of LRW Investments Limited (registered number: SC429572) were approved and authorised for issue by the Director on 02 April 2024. They were signed on its behalf by:

Lorraine Rosemary Wright
Director
LRW INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
LRW INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LRW Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 100 Desswood Place, Aberdeen, AB15 4DQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents net amounts receivable from rental property on a monthly basis.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Fixtures and fittings 5 years straight line
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 August 2022 4,698 16,747 864 22,309
Additions 0 529 949 1,478
Disposals 0 0 ( 864) ( 864)
At 31 July 2023 4,698 17,276 949 22,923
Accumulated depreciation
At 01 August 2022 4,696 15,251 403 20,350
Charge for the financial year 2 1,196 216 1,414
Disposals 0 0 ( 619) ( 619)
At 31 July 2023 4,698 16,447 0 21,145
Net book value
At 31 July 2023 0 829 949 1,778
At 31 July 2022 2 1,496 461 1,959

4. Investment property

Investment property
£
Valuation
As at 01 August 2022 1,140,458
As at 31 July 2023 1,140,458

The investment properties were revalued by the director to its own market value at 31 July 2023. This amount represents the cost of the properties paid by the company.

5. Debtors

2023 2022
£ £
Other debtors 321 0

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 47,192 32,832

7. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 3,271 0
Other creditors 1,068,668 1,068,877
1,071,939 1,068,877

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Balances due to the director from the company 1,065,127 1,065,377

This loan is interest free and has no fixed terms of repayment.