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REGISTERED NUMBER: SC641071 (Scotland)











RRH INVESTMENTS LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


RRH INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Abdulaziz Saad Abdulaziz Al Rashed
Hesham Salem Abdulwahab Al Roumi
Christopher Paul Hutton





REGISTERED OFFICE: Caledonian Exchange
19a Canning Street
Edinburgh
EH3 8HE





REGISTERED NUMBER: SC641071 (Scotland)





AUDITORS: Milne Craig
Chartered accountants
Statutory auditor
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,040 12,016
Investments 5 201 200
18,241 12,216

CURRENT ASSETS
Debtors 6 112,043 48,293
Cash at bank 28,220 22,865
140,263 71,158
CREDITORS
Amounts falling due within one year 7 262,440 75,280
NET CURRENT LIABILITIES (122,177 ) (4,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(103,936

)

8,094

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (104,936 ) 7,094
SHAREHOLDERS' FUNDS (103,936 ) 8,094

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2024 and were signed on its behalf by:





Abdulaziz Saad Abdulaziz Al Rashed - Director


RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

RRH Investments Limited is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The nature of the Company's operations and its principal activities are set out in the Directors Report on page 2.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment the directors have taken into account the letters of intent from the group shareholders that they will not seek repayment of the shareholder loans within the next 12 months, and consequently, amounts due to group undertaking will not be recalled in the next 12 months. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
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. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided 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;
- the costs incurred can be measured reliably.

RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Computer equipment - 33% on cost

Included within tangible fixed assets are assets under construction that are not yet in use and therefore are not depreciated.

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

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 profit or loss as described below.

Non-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.

Financial assets
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 4 ) .

RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Assets Improvements
under to Computer
construction property equipment Totals
£    £    £    £   
COST
At 1 January 2023 590 4,343 8,317 13,250
Additions - - 11,779 11,779
Reclassification/transfer (590 ) - - (590 )
At 31 December 2023 - 4,343 20,096 24,439
DEPRECIATION
At 1 January 2023 - 145 1,089 1,234
Charge for year - 868 4,297 5,165
At 31 December 2023 - 1,013 5,386 6,399
NET BOOK VALUE
At 31 December 2023 - 3,330 14,710 18,040
At 31 December 2022 590 4,198 7,228 12,016

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 200
Additions 1
At 31 December 2023 201
NET BOOK VALUE
At 31 December 2023 201
At 31 December 2022 200

The company's investments at the Balance Sheet date in the share capital of companies include the following:

RRH Hanover A Limited
Registered office: Caledonian Exchange, 19a Canning Street, Edinburgh, Scotland, EH3 8HE
Nature of business: Buying, developing and letting of real estate
%
Class of shares: holding
Ordinary shares 100.00
2023 2022
£    £   
Aggregate capital and reserves (556,014 ) 9,549
Loss for the year (565,563 ) (40,233 )

RRH INVESTMENTS LIMITED (REGISTERED NUMBER: SC641071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS - continued

RRH Finance Limited
Registered office: Caledonian Exchange, 19a Canning Street, Edinburgh, Scotland, EH3 8HE
Nature of business: Buying, developing and letting of real estate
%
Class of shares: holding
Ordinary shares 100.00
2023 2022
£    £   
Aggregate capital and reserves (1,159,990 ) (394,202 )
Loss for the year (765,788 ) (172,827 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 96,927 47,443
Other debtors 850 850
Prepayments and accrued income 14,266 -
112,043 48,293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 19,671 2,028
Amounts owed to group undertakings 212,924 32,783
Social security and other taxes 14,940 616
VAT 10,586 12,582
Other creditors 1,427 7,974
Directors' loan accounts 327 327
Accruals and deferred income 2,565 18,970
262,440 75,280

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kirsty Mackie BAcc CA (Senior Statutory Auditor)
for and on behalf of Milne Craig

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year one of the directors made an interest free loan to the company. The balance due to the director at 31 December 2023 was £327 (2022 - £327).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties as as result of their shareholding in RRH Investments Limited are deemed to be Saad Abdulmosen Al Rashad and Hesham Salem Abdulwahab Al Roumi.