Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity11truetruefalse 09825619 2022-11-01 2023-10-31 09825619 2021-11-01 2022-10-31 09825619 2023-10-31 09825619 2022-10-31 09825619 2021-11-01 09825619 1 2022-11-01 2023-10-31 09825619 1 2021-11-01 2022-10-31 09825619 9 2022-11-01 2023-10-31 09825619 9 2021-11-01 2022-10-31 09825619 d:Director1 2022-11-01 2023-10-31 09825619 e:FurnitureFittings 2022-11-01 2023-10-31 09825619 e:FurnitureFittings 2023-10-31 09825619 e:FurnitureFittings 2022-10-31 09825619 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09825619 e:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 09825619 e:OtherPropertyPlantEquipment 2023-10-31 09825619 e:OtherPropertyPlantEquipment 2022-10-31 09825619 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09825619 e:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 09825619 e:FreeholdInvestmentProperty 2023-10-31 09825619 e:FreeholdInvestmentProperty 2022-10-31 09825619 e:FreeholdInvestmentProperty 2 2022-11-01 2023-10-31 09825619 e:CurrentFinancialInstruments 2023-10-31 09825619 e:CurrentFinancialInstruments 2022-10-31 09825619 e:Non-currentFinancialInstruments 2023-10-31 09825619 e:Non-currentFinancialInstruments 2022-10-31 09825619 e:CurrentFinancialInstruments e:WithinOneYear 2023-10-31 09825619 e:CurrentFinancialInstruments e:WithinOneYear 2022-10-31 09825619 e:Non-currentFinancialInstruments e:AfterOneYear 2023-10-31 09825619 e:Non-currentFinancialInstruments e:AfterOneYear 2022-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2022-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-10-31 09825619 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2022-10-31 09825619 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2023-10-31 09825619 e:Non-currentFinancialInstruments e:MoreThanFiveYears 2022-10-31 09825619 e:ShareCapital 2022-11-01 2023-10-31 09825619 e:ShareCapital 2023-10-31 09825619 e:ShareCapital 2021-11-01 2022-10-31 09825619 e:ShareCapital 2022-10-31 09825619 e:ShareCapital 2021-11-01 09825619 e:RevaluationReserve 2022-11-01 2023-10-31 09825619 e:RevaluationReserve 2023-10-31 09825619 e:RevaluationReserve 1 2022-11-01 2023-10-31 09825619 e:RevaluationReserve 9 2022-11-01 2023-10-31 09825619 e:RevaluationReserve 2021-11-01 2022-10-31 09825619 e:RevaluationReserve 2022-10-31 09825619 e:RevaluationReserve 2021-11-01 09825619 e:RevaluationReserve 8 2021-11-01 2022-10-31 09825619 e:RevaluationReserve 9 2021-11-01 2022-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2022-11-01 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 1 2022-11-01 2023-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2021-11-01 2022-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2022-10-31 09825619 e:InvestmentPropertiesRevaluationReserve 2021-11-01 09825619 e:InvestmentPropertiesRevaluationReserve 1 2021-11-01 2022-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 1 2022-11-01 2023-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2022-10-31 09825619 e:RetainedEarningsAccumulatedLosses 2021-11-01 09825619 e:RetainedEarningsAccumulatedLosses 1 2021-11-01 2022-10-31 09825619 d:FRS102 2022-11-01 2023-10-31 09825619 d:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09825619 d:FullAccounts 2022-11-01 2023-10-31 09825619 d:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09825619 2 2022-11-01 2023-10-31 09825619 5 2022-11-01 2023-10-31 09825619 6 2022-11-01 2023-10-31 09825619 e:AcceleratedTaxDepreciationDeferredTax 2023-10-31 09825619 e:AcceleratedTaxDepreciationDeferredTax 2022-10-31 09825619 e:TaxLossesCarry-forwardsDeferredTax 2023-10-31 09825619 e:TaxLossesCarry-forwardsDeferredTax 2022-10-31 09825619 e:OtherDeferredTax 2023-10-31 09825619 e:OtherDeferredTax 2022-10-31 09825619 f:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 09825619









DELTA LONDON ASSET MANAGEMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
DELTA LONDON ASSET MANAGEMENT LTD
REGISTERED NUMBER:09825619

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
217,372
234,583

Investments
 5 
237,697
237,517

Investment property
 6 
2,045,000
2,065,000

  
2,500,069
2,537,100

Current assets
  

Debtors: amounts falling due within one year
 7 
13,917
21,484

Cash at bank and in hand
 8 
46,664
31,562

  
60,581
53,046

Creditors: amounts falling due within one year
 9 
(1,266,942)
(1,382,419)

Net current liabilities
  
 
 
(1,206,361)
 
 
(1,329,373)

Total assets less current liabilities
  
1,293,708
1,207,727

Creditors: amounts falling due after more than one year
 10 
(1,203,538)
(1,064,342)

Provisions for liabilities
  

Deferred tax
 12 
(140,915)
(54,149)

  
 
 
(140,915)
 
 
(54,149)

Net (liabilities)/assets
  
(50,745)
89,236


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Revaluation reserve
 13 
(9,891)
(11,284)

Investment property reserve
 13 
432,635
557,059

Profit and loss account
 13 
(474,489)
(457,539)

  
(50,745)
89,236


Page 1

 
DELTA LONDON ASSET MANAGEMENT LTD
REGISTERED NUMBER:09825619
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 July 2024.




................................................
M. C. Davis
Director

The notes on pages 6 to 16 form part of these financial statements.

Page 2

 
DELTA LONDON ASSET MANAGEMENT LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023


Called up share capital
Revaluation reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2022
1,000
(11,284)
557,059
(457,539)
89,236


Comprehensive income for the year

Loss for the year

-
-
-
(16,950)
(16,950)

Impairment adjustment - other fixed assets
-
1,393
-
-
1,393

Surplus/(Deficit) on fixed assets investments
-
-
(124,424)
-
(124,424)


Other comprehensive income for the year
-
1,393
(124,424)
-
(123,031)


Total comprehensive income for the year
-
1,393
(124,424)
(16,950)
(139,981)


Total transactions with owners
-
-
-
-
-


At 31 October 2023
1,000
(9,891)
432,635
(474,489)
(50,745)


The notes on pages 6 to 16 form part of these financial statements.

Page 3

 
DELTA LONDON ASSET MANAGEMENT LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022


Called up share capital
Revaluation reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 November 2021
1,000
23,801
246,298
(405,660)
(134,561)


Comprehensive income for the year

Loss for the year

-
-
-
(51,879)
(51,879)

Impairment adjustment - other fixed assets
-
(35,085)
-
-
(35,085)

Other movement type 1
-
-
310,761
-
310,761


Other comprehensive income for the year
-
(35,085)
310,761
-
275,676


Total comprehensive income for the year
-
(35,085)
310,761
(51,879)
223,797


Total transactions with owners
-
-
-
-
-


At 31 October 2022
1,000
(11,284)
557,059
(457,539)
89,236


The notes on pages 6 to 16 form part of these financial statements.

Page 4

 
DELTA LONDON ASSET MANAGEMENT LTD
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 OCTOBER 2023




At 1 November 2022
Cash flows
At 31 October 2023
£

£

£

Cash at bank and in hand

31,562

15,102

46,664

Debt due after 1 year

(1,064,341)

(139,197)

(1,203,538)

Debt due within 1 year

(148,260)

(13,216)

(161,476)


(1,181,039)
(137,311)
(1,318,350)

The notes on pages 6 to 16 form part of these financial statements.

Page 5

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The entity is a private company limited by share capital, registered in England and Wales and the registered address is situated at Unit 3, Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 6

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical 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.

Page 7

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
20%
Other fixed assets
-
5%

The assets' 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 in profit or loss.

 
2.8

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.9

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers 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 in profit or loss.

Page 8

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 9

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 November 2022
30,558
344,191
374,749


Disposals
(30,558)
-
(30,558)



At 31 October 2023

-
344,191
344,191



Depreciation


At 1 November 2022
30,557
109,609
140,166


Charge for the year on owned assets
-
17,210
17,210


Disposals
(30,557)
-
(30,557)



At 31 October 2023

-
126,819
126,819



Net book value



At 31 October 2023
-
217,372
217,372



At 31 October 2022
1
234,582
234,583

Other fixed assets represent moveable garden pods.


5.


Fixed asset investments





Investments in associates
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 November 2022
218,613
18,904
237,517


Additions
-
17,089
17,089


Disposals
-
(13,232)
(13,232)


Revaluations
-
(3,677)
(3,677)



At 31 October 2023
218,613
19,084
237,697




Page 10

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
2,065,000


Surplus on revaluation
(20,000)



At 31 October 2023
2,045,000

The 2023 valuations were made by the director, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 November 2022
557,059
246,298

Net surplus/(deficit) in movement properties
(124,424)
310,761

At 31 October 2023
432,635
557,059



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,468,513
1,468,153

1,468,513
1,468,153

Page 11

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Debtors

2023
2022
£
£


Trade debtors
6,641
16,052

Other debtors
7,276
289

Prepayments and accrued income
-
5,143

13,917
21,484



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
46,664
31,562

46,664
31,562


Page 12

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
161,836
148,620

Trade creditors
4,499
31,053

Amounts owed to group undertakings
1,081,930
1,200,551

Other creditors
10,042
-

Accruals and deferred income
8,635
2,195

1,266,942
1,382,419


The following liabilities were secured:

2023
2022
£
£



Secured Loans
161,836
148,620

161,836
148,620

Details of security provided:

The loans are secured against specific land and buildings by way of first charge mortgages containing negative pledge.

Page 13

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
802,456
802,456

Other loans
401,082
261,886

1,203,538
1,064,342


The following liabilities were secured:

2023
2022
£
£



Bank Loan
802,456
802,456

Secured Loan
401,082
261,886

1,203,538
1,064,342

Details of security provided:

The loans are secured against specific land and buildings by way of first charge mortgages containing negative pledge.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

2023
2022
£
£


Repayable other than by instalments
802,456
802,456

802,456
802,456

The amounts that are repayable other than by instalment is interest only loans and the whole amount becomes repayable at the end of the term. The various loans have interest rates between 2% to 4%.

Page 14

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
161,836
148,620


161,836
148,620

Amounts falling due 1-2 years

Other loans
161,981
110,471


161,981
110,471

Amounts falling due 2-5 years

Other loans
239,102
151,415


239,102
151,415

Amounts falling due after more than 5 years

Bank loans
802,456
802,456

802,456
802,456

1,365,375
1,212,962


Page 15

 
DELTA LONDON ASSET MANAGEMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

12.


Deferred taxation




2023


£






At beginning of year
(54,149)


Charged to profit or loss
12,559


Charged to other comprehensive income
(99,325)



At end of year
(140,915)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(12,559)

Tax losses carried forward
3,297
(41,590)

Unrealised surplus on revaluation of fixed assets investments
(144,212)
-

(140,915)
(54,149)


13.


Reserves

Revaluation reserve

Revaluation reserve represents unrealised surplus/defecit on valuation of fixed assets investments net of attributable deferred tax charged to statement of comprehensive income.

Investment property revaluation reserve

Represents unrealised surplus/defecit on valuation of investment properties net of attributable deferred tax charged to statement of comprehensive income.

Profit and loss account

Profit and loss reserves represents the company’s profits available for distribution in accordance with section 830 of the Companies Act 2006 as its accumulated realised profits, so far as not previously utilised by distribution or capitalisation less its accumulated realised losses, so far as not previously written off in a reduction or capitalisation.

 
Page 16