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REGISTERED NUMBER: 11274433 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

REPLICATE LIMITED

REPLICATE LIMITED (REGISTERED NUMBER: 11274433)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REPLICATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Karim Virani
Rahim Virani



SECRETARY: Paul Davis



REGISTERED OFFICE: Crown House
North Circular Road
London
NW10 7PN



REGISTERED NUMBER: 11274433 (England and Wales)



AUDITORS: UHY Hacker Young (S.E.) Limited
Chartered Accountants & Statutory Auditor
168 Church Road
Hove
East Sussex
BN3 2DL



BANKERS: Punjab National Bank (International) Ltd
110 South Road
Southall
UB1 1RB

REPLICATE LIMITED (REGISTERED NUMBER: 11274433)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,891,680 2,891,680

CURRENT ASSETS
Debtors 5 - 3,925
Cash at bank 70,981 183,631
70,981 187,556
CREDITORS
Amounts falling due within one year 6 1,987,897 2,243,619
NET CURRENT LIABILITIES (1,916,916 ) (2,056,063 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,764

835,617

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 974,664 835,517
SHAREHOLDERS' FUNDS 974,764 835,617

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 25 September 2024 and were signed on its behalf by:





Rahim Virani - Director


REPLICATE LIMITED (REGISTERED NUMBER: 11274433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Replicate Limited is a private company, limited by shares, registered in England and Wales. The company's registered office is Crown House, North Circular Road, Park Royal, London NW10 7PN.

2. ACCOUNTING POLICIES

Accounting convention
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.

Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements.

The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

Critical accounting judgements and key sources of estimation uncertainty

Significant Judgements
The significant judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Property Valuations
Properties are valued annually at fair value by the directors. Fair value is ascertained through review of a number of factors to include market knowledge and market yields. There is an inevitable degree of judgement involved and value can only ultimately be reliably tested in the market itself.

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

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.

Investment properties are accounted for as follows:
- Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
- Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the consolidated income statement and accumulated in the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in retained earnings for the year.

Depreciation is provided only on those investment properties that are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the applicable standard, FRS 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial information to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount in respect of this which might otherwise have been shown cannot be separately identified or quantified.

REPLICATE LIMITED (REGISTERED NUMBER: 11274433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,891,680
NET BOOK VALUE
At 31 March 2024 2,891,680
At 31 March 2023 2,891,680

The freehold investment property was valued on 31 March 2024 on an open market basis as at that date by the directors.

In respect of fixed assets stated at valuation, the historical cost was £2,891,680.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 3,925

REPLICATE LIMITED (REGISTERED NUMBER: 11274433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,181,959 2,105,857
Taxation and social security 56,254 99,344
Other creditors 749,684 38,418
1,987,897 2,243,619

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

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

The Report of the Auditors was unqualified.

David Guest FCA (Senior Statutory Auditor)
for and on behalf of UHY Hacker Young (S.E.) Limited

9. RELATED PARTY DISCLOSURES

At 31 March 2024, amount owed to related parties amounting to £711,436 ( 2023: £nil) included in other creditors, in respect of a shareholder loan. The loan is interest free, unsecured and payable on demand.