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REGISTERED NUMBER: 09305428 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REGENT NORTH END PROPERTIES 1 LIMITED

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REGENT NORTH END PROPERTIES 1 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M P Raibin
S A Simons
R J Blair





REGISTERED OFFICE: 55 Loudoun Road
London
NW8 0DL





REGISTERED NUMBER: 09305428 (England and Wales)





ACCOUNTANTS: MGR SD Limited
Chartered Accountants
55 Loudoun Road
London
NW8 0DL

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Investments 4 100 100
Investment property 5 1,500,000 1,500,000
1,500,100 1,500,100

CURRENT ASSETS
Debtors 6 1,431,405 1,529,205
Cash at bank 235,877 30,977
1,667,282 1,560,182
CREDITORS
Amounts falling due within one year 7 (279,325 ) (104,050 )
NET CURRENT ASSETS 1,387,957 1,456,132
TOTAL ASSETS LESS CURRENT LIABILITIES 2,888,057 2,956,232

CREDITORS
Amounts falling due after more than one
year

8

(1,925,000

)

(2,025,000

)

PROVISIONS FOR LIABILITIES 10 (176,462 ) (134,111 )
NET ASSETS 786,595 797,121

CAPITAL AND RESERVES
Called up share capital 300 300
Fair value reserve 11 626,375 668,726
Retained earnings 11 159,920 128,095
SHAREHOLDERS' FUNDS 786,595 797,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

BALANCE SHEET - continued
31 DECEMBER 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 2 April 2024 and were signed on its behalf by:





R J Blair - Director


REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

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


1. STATUTORY INFORMATION

Regent North End Properties 1 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Regent North End Properties 1 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 represents rent received.

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

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in fair value reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INVESTMENT IN SUBSIDIARY
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

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


4. INVESTMENT IN SUBSIDIARY - continued

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

Regent North End Properties 3 Limited
Registered office: MGR SD Limited Chartered Accountants
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 701,782 686,902
Profit for the year 44,881 82,812

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,500,000
NET BOOK VALUE
At 31 December 2023 1,500,000
At 31 December 2022 1,500,000

The directors believe that the fair value of the property is correct as at the balance sheet date.

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 775,505 825,305

Amounts falling due after more than one year:
Amounts owed by related party 655,900 703,900

Aggregate amounts 1,431,405 1,529,205

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 141,000 427
Taxation and social security 14,470 63
Other creditors 23,855 3,560
279,325 104,050

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 1,925,000 2,025,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 1,525,000 1,625,000

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 2,025,000 2,125,000

The bank indebtedness is secured by a fixed charge over the investment property and a debenture over the
remaining assets of both the company and the related party Regent North End Properties 2 Limited.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 176,462 134,111

Deferred
tax
£   
Balance at 1 January 2023 134,111
Provided during year 42,351
Balance at 31 December 2023 176,462

REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428)

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


11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 128,095 668,726 796,821
Deficit for the year (10,526 ) (10,526 )
Deferred tax on
investment properties 42,351 (42,351 ) -
At 31 December 2023 159,920 626,375 786,295

The fair value reserve is non distributable.

12. RELATED PARTY DISCLOSURES

Included in debtors is an amount of £655,900 (2022: £703,900) due from the subsidiary company, Regent North End Properties 3 Limited.

Included in debtors is an amount of £775,505 (2022: £825,305) due from Regent North End Properties 2 Limited, a company related by common shareholding.

The company's loan facility with Investec Bank plc is secured with fixed charge over the investment property and a debenture over the remaining assets of Regent North End Properties 3 Limited and Regent North End Properties 2 Limited.