IRIS Accounts Production v24.2.0.383 11649817 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116498172022-10-31116498172023-10-31116498172022-11-012023-10-31116498172021-10-31116498172021-11-012022-10-31116498172022-10-3111649817ns15:EnglandWales2022-11-012023-10-3111649817ns14:PoundSterling2022-11-012023-10-3111649817ns10:Director12022-11-012023-10-3111649817ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3111649817ns10:SmallEntities2022-11-012023-10-3111649817ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3111649817ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3111649817ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3111649817ns10:FullAccounts2022-11-012023-10-3111649817ns10:Director22022-11-012023-10-3111649817ns10:RegisteredOffice2022-11-012023-10-3111649817ns5:CurrentFinancialInstruments2023-10-3111649817ns5:CurrentFinancialInstruments2022-10-3111649817ns5:Non-currentFinancialInstruments2023-10-3111649817ns5:Non-currentFinancialInstruments2022-10-3111649817ns5:ShareCapital2023-10-3111649817ns5:ShareCapital2022-10-3111649817ns5:FurtherSpecificReserve3ComponentTotalEquity2023-10-3111649817ns5:FurtherSpecificReserve3ComponentTotalEquity2022-10-3111649817ns5:RetainedEarningsAccumulatedLosses2023-10-3111649817ns5:RetainedEarningsAccumulatedLosses2022-10-3111649817ns5:LandBuildings2022-10-3111649817ns5:PlantMachinery2022-10-3111649817ns5:LandBuildings2022-11-012023-10-3111649817ns5:PlantMachinery2022-11-012023-10-3111649817ns5:LandBuildings2023-10-3111649817ns5:PlantMachinery2023-10-3111649817ns5:LandBuildings2022-10-3111649817ns5:PlantMachinery2022-10-3111649817ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3111649817ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3111649817ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-10-3111649817ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-10-3111649817ns5:Secured2023-10-3111649817ns5:Secured2022-10-31
REGISTERED NUMBER: 11649817 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st October 2023

for

Right Bell Investment Ltd

Right Bell Investment Ltd (Registered number: 11649817)






Contents of the Financial Statements
for the Year Ended 31st October 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Right Bell Investment Ltd

Company Information
for the Year Ended 31st October 2023







DIRECTORS: M Bahrami
Mrs M Nekooi





REGISTERED OFFICE: 272 Regents Park Road
London
N3 3HN





REGISTERED NUMBER: 11649817 (England and Wales)





ACCOUNTANTS: Spencer Hyde Limited
272 Regents Park Road
London
N3 3HN

Right Bell Investment Ltd (Registered number: 11649817)

Statement of Financial Position
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,404 4,414,505
Investment property 5 5,950,000 -
5,952,404 4,414,505

CURRENT ASSETS
Debtors 6 60,423 1,011,723
Investments 7 221,848 -
Cash at bank and in hand 2,390 11,188
284,661 1,022,911
CREDITORS
Amounts falling due within one year 8 104,745 73,054
NET CURRENT ASSETS 179,916 949,857
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,132,320

5,364,362

CREDITORS
Amounts falling due after more than one
year

9

(5,209,517

)

(5,515,270

)

PROVISIONS FOR LIABILITIES (224,839 ) -
NET ASSETS/(LIABILITIES) 697,964 (150,908 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 674,518 -
Retained earnings 23,346 (151,008 )
697,964 (150,908 )

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

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

Right Bell Investment Ltd (Registered number: 11649817)

Statement of Financial Position - continued
31st October 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 3rd September 2024 and were signed on its behalf by:





M Bahrami - Director


Right Bell Investment Ltd (Registered number: 11649817)

Notes to the Financial Statements
for the Year Ended 31st October 2023

1. STATUTORY INFORMATION

Right Bell Investment Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

These financial statements for the year ended 31 October 2023 are the first financial statements that comply with FRS 102. The date of transition is 1 November 2022. The effect of the transition to FRS 102 is detailed in note 12.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on reducing balance.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2022 - 2 ) .

Right Bell Investment Ltd (Registered number: 11649817)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st November 2022 3,921,375 564,099 4,485,474
Additions - 760 760
Reclassification/transfer (3,921,375 ) (542,695 ) (4,464,070 )
At 31st October 2023 - 22,164 22,164
DEPRECIATION
At 1st November 2022 52,010 18,959 70,969
Charge for year - 801 801
Charge written back (52,010 ) - (52,010 )
At 31st October 2023 - 19,760 19,760
NET BOOK VALUE
At 31st October 2023 - 2,404 2,404
At 31st October 2022 3,869,365 545,140 4,414,505

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 610,838
Revaluations 859,242
Reclassification/transfer 4,479,920
At 31st October 2023 5,950,000
NET BOOK VALUE
At 31st October 2023 5,950,000

Fair value at 31st October 2023 is represented by:
£   
Valuation in 2023 859,242
Cost 5,090,758
5,950,000

The investment properties were valued by the director based on market conditions at the year end

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,000 3,000
Other debtors 58,423 1,008,723
60,423 1,011,723

Right Bell Investment Ltd (Registered number: 11649817)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 221,848 -

2023 2022
£    £   
Fair value 1 November 2022 - -
Additions 181,732 -
Disposal - -
Net gains or losses from fair value adjustments 40,116 -
Fair value at 31 October 2023 221,848 -

The current asset investments are valued at the market value at the balance sheet date.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,883 282
Taxation and social security 5,011 -
Other creditors 85,851 62,772
104,745 73,054

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 24,837 35,054
Other creditors 5,184,680 5,480,216
5,209,517 5,515,270

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 1,957,556 1,957,156

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 1,957,556 1,957,156

The bank loan is secured by fixed charges, dated 30 January 2020 & 22 September 2021, over the investment properties held by the company.

Right Bell Investment Ltd (Registered number: 11649817)

Notes to the Financial Statements - continued
for the Year Ended 31st October 2023

11. RESERVES
Fair
value
reserve
£   
P&L transfer 674,518

At 31st October 2023 674,518

This represents

2023
£   
Increase in value of investment property 859242
Less provision for deferred tax at 25%-214810

Increase in value of unlisted investment 40,116
Less provision for deferred tax at 25%-10,029
674,518


12. EFFECT OF TRANSITION TO FRS 102

As a result of the transition to FRS 102 Section 1 A, it has been necessary to amend the revaluation reserve on the investment property as a fair value reserve.

FRS 102 also requires that a provision for deferred tax should be made and applied against the fair value reserve. The relevant deferred tax of £224,839 was provided against this fair value reserve to give a net fair value reserve balance of £674,518. The revaluation of the investment property had been made in October 2023.