REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
FOR |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD (REGISTERED NUMBER: 05635672) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor Pentagon House |
Wealden Ind Estate |
Farningham Road |
Crowborough |
East Sussex |
TN6 2JR |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD (REGISTERED NUMBER: 05635672) |
BALANCE SHEET |
30 JUNE 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | (26,410 | ) | (26,410 | ) |
SHAREHOLDERS' FUNDS |
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. |
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 |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD (REGISTERED NUMBER: 05635672) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Regalpoint Properties (Edenbridge) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD (REGISTERED NUMBER: 05635672) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
4. | INVESTMENT PROPERTY - continued |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2023 | 225,000 |
Cost | 1,000,000 |
1,225,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
£ | £ |
Other creditors |
Accrued expenses |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.24 | 30.6.23 |
£ | £ |
Sagemaster Components Ltd | 1,000,000 | 1,000,000 |
A loan of £1,000,000 from Sagemaster Components Ltd is secured against land & property at "The Granary", Edenbridge. |
In 2008 Sagemaster Components Ltd took full economic possession of the property and receives all economic benefit from the property as Mortgagee in Possession. |
8. | PROVISIONS FOR LIABILITIES |
30.6.24 | 30.6.23 |
£ | £ |
Deferred tax (Fair value gain) | 56,250 | 56,250 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Fair value (Investment Prop) |
Balance at 30 June 2024 |
REGALPOINT PROPERTIES (EDENBRIDGE) LTD (REGISTERED NUMBER: 05635672) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |
10. | RELATED PARTY DISCLOSURES |
Sagemaster Components Limited (a company controlled by Mr & Mrs Shaw) has loaned funds in earlier periods totalling £1,000,190 and this sum remains outstanding at 30 June 2024. |
Sagemaster Components Ltd has taken economic possession of what remains of the developed property as "mortgagee in possession" in order to safeguard it's investment. |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |