Registered number
10371533
RS Investment Holdings Ltd
Filleted Accounts
31 December 2023
RS Investment Holdings Ltd
Registered number: 10371533
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,510 -
Investments 4 2,830,907 2,330,907
2,832,417 2,330,907
Current assets
Debtors 5 2,649 92,400
Cash at bank and in hand 1,133 9
3,782 92,409
Creditors: amounts falling due within one year 6 (1,263,218) (1,378,409)
Net current liabilities (1,259,436) (1,286,000)
Total assets less current liabilities 1,572,981 1,044,907
Creditors: amounts falling due after more than one year 7 (882,967) (901,069)
Provisions for liabilities (125,000) -
Net assets 565,014 143,838
Capital and reserves
Called up share capital 100 100
Profit and loss account 564,914 143,738
Shareholders' funds 565,014 143,838
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R S Sur
Director
Approved by the board on 14 August 2024
RS Investment Holdings Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of management services and returns from the investment properties. Turnover is recognised when the significant risks and rewards of the services have transferred to the recipient. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured when the invoice is raised.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Investment properties
Investment properties are measured at fair value. Gains are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 2,014
At 31 December 2023 2,014
Depreciation
Charge for the year 504
At 31 December 2023 504
Net book value
At 31 December 2023 1,510
4 Investments
Other
investments
£
Cost
At 1 January 2023 2,330,907
Revaluation 500,000
At 31 December 2023 2,830,907
Historical cost
At 1 January 2023 2,330,907
At 31 December 2023 2,330,907
The investment properties have been stated at current cost. The director has reviewed the current valuation at the balance sheet date based on the market value in the area and believes that the cost stated at the balance sheet date is a fair valuation.
5 Debtors 2023 2022
£ £
Amounts owed by related undertakings and undertakings in which the company has a participating interest - 92,400
Other debtors 2,649 -
2,649 92,400
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans 49,132 80,434
Amounts owed to related undertakings and undertakings in which the company has a participating interest 1,134,476 1,134,476
Taxation and social security costs 56,961 53,599
Director's current account 11,515 106,247
Other creditors 11,134 3,653
1,263,218 1,378,409
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 882,967 901,069
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 932,099 981,503
Bank loan is secured over the property of the company.
9 Non-distributable reserve 2023 2022
£ £
Gain on revaluation of investment properties 500,000 -
Deferred taxation arising on the revaluation of investment properties (125,000) -
At 31 December 2023 375,000 -
Profit and loss accounts includes non-distributable profits arisen as a result of gains on the revaluation of investment properties. These profits are not distributable and hence are stated separately in the Statement of Changes in Equity to differenciate from distributable profits.
10 Related party transactions
During the year the company charged commercial rent for letting its warehouse premises and provided management services to Tools4Trade Ltd, both of these companies are owned and controlled by the same persons. The two companies also lend money to each other on an interest free basis. The rent and the management fees charged this year amounted to £96,000 (2022: £96,000) and £66,000 (2022: £66,000) respectively. The amounts payable to and receivable from this related party as at the balance sheet date were £1,134,476 (2022: £1,134,476) and £nil (2020: £92,400) respectively.
11 Other information
RS Investment Holdings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
19 The Poynings
Iver
Buckinghamshire
SL0 9DS
RS Investment Holdings Ltd 10371533 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 R S Sur No description of principal activity 10371533 2022-01-01 2022-12-31 10371533 core:RevaluationReserve core:LandBuildings 2022-01-01 2022-12-31 10371533 core:RevaluationReserve 2022-01-01 2022-12-31 10371533 core:WithinOneYear 2022-12-31 10371533 core:AfterOneYear 2022-12-31 10371533 core:ShareCapital 2022-12-31 10371533 core:RetainedEarningsAccumulatedLosses 2022-12-31 10371533 core:RevaluationReserve 2022-12-31 10371533 2023-01-01 2023-12-31 10371533 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10371533 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10371533 bus:Director40 2023-01-01 2023-12-31 10371533 1 2023-01-01 2023-12-31 10371533 2 2023-01-01 2023-12-31 10371533 core:PlantMachinery 2023-01-01 2023-12-31 10371533 core:RevaluationReserve core:LandBuildings 2023-01-01 2023-12-31 10371533 core:RevaluationReserve 2023-01-01 2023-12-31 10371533 countries:England 2023-01-01 2023-12-31 10371533 bus:FRS102 2023-01-01 2023-12-31 10371533 bus:FilletedAccounts 2023-01-01 2023-12-31 10371533 2023-12-31 10371533 core:WithinOneYear 2023-12-31 10371533 core:AfterOneYear 2023-12-31 10371533 core:ShareCapital 2023-12-31 10371533 core:RetainedEarningsAccumulatedLosses 2023-12-31 10371533 core:PlantMachinery 2023-12-31 10371533 core:RevaluationsIncreaseDecreaseInInvestments 2023-12-31 10371533 core:RevaluationReserve 2023-12-31 10371533 2022-12-31 iso4217:GBP xbrli:pure