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REGISTERED NUMBER: 01342232 (England and Wales)















Unaudited Financial Statements for the Year Ended 24 March 2023

for

Royel Investments Limited

Royel Investments Limited (Registered number: 01342232)






Contents of the Financial Statements
for the year ended 24 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Royel Investments Limited (Registered number: 01342232)

Balance Sheet
24 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2 2
Investments 6 1,312,946 1,304,564
Investment property 7 12,004,150 12,004,150
13,317,098 13,308,716

CURRENT ASSETS
Debtors 8 594,818 761,694
Cash at bank 862,388 18,193
1,457,206 779,887
CREDITORS
Amounts falling due within one year 9 4,026,652 2,133,771
NET CURRENT LIABILITIES (2,569,446 ) (1,353,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,747,652

11,954,832

CREDITORS
Amounts falling due after more than one
year

10

(1,394,349

)

(2,861,484

)

PROVISIONS FOR LIABILITIES (1,146,383 ) (1,146,383 )
NET ASSETS 8,206,920 7,946,965

CAPITAL AND RESERVES
Called up share capital 13 100 100
Merger reserve 25,564 25,564
Fair value reserve 14 8,033,291 8,033,291
Retained earnings 147,965 (111,990 )
SHAREHOLDERS' FUNDS 8,206,920 7,946,965

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 March 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.

Royel Investments Limited (Registered number: 01342232)

Balance Sheet - continued
24 March 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 8 March 2024 and were signed on its behalf by:





C W Lewis - Director


Royel Investments Limited (Registered number: 01342232)

Notes to the Financial Statements
for the year ended 24 March 2023

1. STATUTORY INFORMATION

Royel Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01342232

Registered office: 16 Wigmore Street
London
W1U 2RF

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, modified to include investment properties at fair value.

Preparation of consolidated financial statements
The financial statements contain information about Royel Investments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is the amount derived from ordinary activities and is comprised of rental income on the investment property. Turnover is measured at the fair value of the consideration received or receivable and is stated net of VAT.

Revenue from rentals is recognised in the period to which the rentals received relates to.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% per annum on reducing balance and 15% per annum on reducing balance

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

Investment property
Investment properties, which are properties held to earn rental income and/or capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, they are measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Royel Investments Limited (Registered number: 01342232)

Notes to the Financial Statements - continued
for the year ended 24 March 2023

3. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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.

Loans and borrowings
Borrowings are initially recognised at the fair value of the consideration received, net of any directly associated issue costs. Borrowings are subsequently recorded at amortised cost, with any difference between the amount initially recorded and the redemption value recognised in the income statement using the effective interest method.

Borrowing costs
Borrowing costs are recognised as an expense in the period in which they are incurred.

Going concern
In assessing whether the going concern assumption is appropriate, the directors have evaluated current and forecasted operational results, and the solvency of the company. Given the company is in a net asset position, the directors consider it appropriate to prepare the financial statements on a going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Royel Investments Limited (Registered number: 01342232)

Notes to the Financial Statements - continued
for the year ended 24 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 25 March 2022
and 24 March 2023 3,183 25,000 28,183
DEPRECIATION
At 25 March 2022
and 24 March 2023 3,182 24,999 28,181
NET BOOK VALUE
At 24 March 2023 1 1 2
At 24 March 2022 1 1 2

6. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating Unlisted
undertakings interests investments Totals
£    £    £    £   
COST
At 25 March 2022 1 1,165,263 139,300 1,304,564
Additions - 16,845 - 16,845
Share of profit/(loss) - (8,463 ) - (8,463 )
At 24 March 2023 1 1,173,645 139,300 1,312,946
NET BOOK VALUE
At 24 March 2023 1 1,173,645 139,300 1,312,946
At 24 March 2022 1 1,165,263 139,300 1,304,564

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 25 March 2022
and 24 March 2023 12,004,150
NET BOOK VALUE
At 24 March 2023 12,004,150
At 24 March 2022 12,004,150

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 24 March 2023 by the director on an open market basis.

The directors contributed £47,000 towards the cost of the purchase of an investment property, and the percentage this represents is held on trust for the director.

Royel Investments Limited (Registered number: 01342232)

Notes to the Financial Statements - continued
for the year ended 24 March 2023

7. INVESTMENT PROPERTY - continued

Fair value at 24 March 2023 is represented by:
£   
Valuation in 1993 303,867
Valuation in 1997 (50,000 )
Valuation in 2020 4,460,808
Valuation in 2021 4,465,000
Cost 2,824,475
12,004,150

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,305 60,861
Other debtors 524,513 700,833
594,818 761,694

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 11) 1,963,173 114,815
Taxation and social security 141,999 72,780
Other creditors 1,921,480 1,946,176
4,026,652 2,133,771

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 11) 1,394,349 2,861,484

11. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,963,173 114,815

Amounts falling due between one and two years:
Bank loans - 1-2 years 1,394,349 1,463,641

Amounts falling due between two and five years:
Bank loans - 2-5 years - 1,397,843

Royel Investments Limited (Registered number: 01342232)

Notes to the Financial Statements - continued
for the year ended 24 March 2023

12. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,357,522 2,976,299

The bank loans are secured by a fixed charge over investment properties held by the company and other related companies under Common Control.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

14. RESERVES
Fair
value
reserve
£   
At 25 March 2022
and 24 March 2023 8,033,291

15. CONTINGENT LIABILITIES

The company has, together with two connected companies, entered into a loan agreement, the details of which are given in note 12. Each company is jointly and severally liable up to the total amount outstanding. At 24 March 2023, total loans outstanding amounted to £3,357,522 (2022: £2,976,299).

The company has provided security for a bank loan for its subsidiary, Royel Hotels Limited. At 24 March 2023, the balance due to the bank was £nil (2022: £3,854,823).