Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-01-01falseProperty Investment11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13395732 2023-01-01 2023-12-31 13395732 2022-01-01 2022-12-31 13395732 2023-12-31 13395732 2022-12-31 13395732 c:Director2 2023-01-01 2023-12-31 13395732 d:LeaseholdInvestmentProperty 2023-12-31 13395732 d:LeaseholdInvestmentProperty 2022-12-31 13395732 d:CurrentFinancialInstruments 2023-12-31 13395732 d:CurrentFinancialInstruments 2022-12-31 13395732 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13395732 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13395732 d:ShareCapital 2023-12-31 13395732 d:ShareCapital 2022-12-31 13395732 d:SharePremium 2023-01-01 2023-12-31 13395732 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 13395732 d:RetainedEarningsAccumulatedLosses 2023-12-31 13395732 d:RetainedEarningsAccumulatedLosses 2022-12-31 13395732 c:OrdinaryShareClass1 2023-01-01 2023-12-31 13395732 c:OrdinaryShareClass1 2023-12-31 13395732 c:OrdinaryShareClass1 2022-12-31 13395732 c:FRS102 2023-01-01 2023-12-31 13395732 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 13395732 c:FullAccounts 2023-01-01 2023-12-31 13395732 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13395732 2 2023-01-01 2023-12-31 13395732 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13395732










Rias (Poole) Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Rias (Poole) Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Rias (Poole) Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rias (Poole) Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Rias (Poole) Limited, as a body, in accordance with the terms of our engagement letter dated 24 July 2024Our work has been undertaken solely to prepare for your approval the financial statements of Rias (Poole) Limited and state those matters that we have agreed to state to the Board of directors of Rias (Poole) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rias (Poole) Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Rias (Poole) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rias (Poole) Limited. You consider that Rias (Poole) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Rias (Poole) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
2nd Floor
168 Shoreditch High Street
London
E1 6RA
24 September 2024
Page 1

 
Rias (Poole) Limited
Registered number: 13395732

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,733,548
2,733,548

  
2,733,548
2,733,548

Current assets
  

Debtors: amounts falling due within one year
 5 
71,080
11,064

Cash at bank and in hand
  
55,062
66,038

  
126,142
77,102

Creditors: amounts falling due within one year
 6 
(2,773,607)
(2,764,545)

Net current liabilities
  
 
 
(2,647,465)
 
 
(2,687,443)

Total assets less current liabilities
  
86,083
46,105

  

Net assets
  
86,083
46,105


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
 8 
86,082
46,104

  
86,083
46,105


The directors consider 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 directors acknowledge their 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 by: 




L G Marks
Director
Date: 24 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Rias (Poole) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England & Wales. The company's registered office is 2nd Floor 168 Shoreditch High Street, London, E1 6RA. The principal activity of the company continued to be that of property investment.

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

Going concern

Despite the company reporting net current liabilities of £2,647,465 (2022: £2,687,443) as at 31 December 2023, the financial statements have been prepared on a going concern basis. Included within "Creditors: amounts due within one year" is an amount of £2,743,466 (2022: £2,743,466) to the company's parent undertaking who have confirmed they will not call for repayment of this sum until the company has sufficient cash reserves to do so, without prejudice to the company's other creditors, and for a period of at least twelve months from the date of approval of the financial statements. 
For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Turnover represents rents and service charges from tenants, credit for which is taken on an accrual basis excluding discounts, value added tax and other sales taxes.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the director 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.

 
2.5

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.

 
2.6

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.

Page 3

 
Rias (Poole) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.8

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.

 
2.9

Interest income

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

 
2.10

Taxation

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 balance sheet date in the countries where the Company operates and generates income.


3.


Employees




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

Page 4

 
Rias (Poole) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 January 2023
2,733,548



At 31 December 2023
2,733,548

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



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
2,733,548
2,733,548


5.


Debtors

2023
2022
£
£


Trade debtors
11,041
11,041

Amounts owed by group undertakings
60,000
-

Other debtors
39
23

71,080
11,064



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
747
748

Amounts owed to group undertakings
2,743,466
2,743,466

Corporation tax
12,144
5,900

Other taxation and social security
5,249
2,430

Accruals and deferred income
12,001
12,001

2,773,607
2,764,545


Page 5

 
Rias (Poole) Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1
1
1



8.


Reserves

Share capital

This represents the nominal value of share that have been issued by the company.

Profit and loss account

The Profit and loss account comprises all current period retained profits and losses.


9.


Related party transactions

During the year, the parent undertaking met expenditure on behalf of the company totalling £Nil (2022: £Nil) and received income on behalf of the company totalling £Nil (2022: £46,883). At the balance sheet date, the company owed the parent undertaking £2,743,466 (2022: £2,743,466), which is included within "Creditors: Amount owed to group undertakings". The amount is non-interest bearing and repayable on demand.
During the year, the company met expenditure on behalf of a fellow subsidiary, Rias Landmark Limited totalling £60,000 (2022: £Nil). At the balance sheet date, the company was owed £60,000 from Rias Landmark Limited, which is included within "Debtors: Amounts owed by group undertakings". The amount is non-interest bearing and repayable on demand. 


10.


Controlling party

The company regards Rias Investments Limited, a company registered in England and Wales as its immediate and ultimate parent company.


Page 6