Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseInvestment property22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13130097 2023-04-01 2024-03-31 13130097 2022-04-01 2023-03-31 13130097 2024-03-31 13130097 2023-03-31 13130097 c:Director2 2023-04-01 2024-03-31 13130097 d:FreeholdInvestmentProperty 2024-03-31 13130097 d:FreeholdInvestmentProperty 2023-03-31 13130097 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 13130097 d:CurrentFinancialInstruments 2024-03-31 13130097 d:CurrentFinancialInstruments 2023-03-31 13130097 d:Non-currentFinancialInstruments 2024-03-31 13130097 d:Non-currentFinancialInstruments 2023-03-31 13130097 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 13130097 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13130097 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 13130097 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 13130097 d:ShareCapital 2024-03-31 13130097 d:ShareCapital 2023-03-31 13130097 d:OtherMiscellaneousReserve 2023-04-01 2024-03-31 13130097 d:OtherMiscellaneousReserve 2024-03-31 13130097 d:OtherMiscellaneousReserve 2023-03-31 13130097 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 13130097 d:RetainedEarningsAccumulatedLosses 2024-03-31 13130097 d:RetainedEarningsAccumulatedLosses 2023-03-31 13130097 d:OtherDeferredTax 2024-03-31 13130097 d:OtherDeferredTax 2023-03-31 13130097 c:FRS102 2023-04-01 2024-03-31 13130097 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 13130097 c:FullAccounts 2023-04-01 2024-03-31 13130097 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13130097 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 13130097










3 RIVERS PROPERTY HOLDINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
3 RIVERS PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 13130097

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
400,000
378,374

  
400,000
378,374

Current assets
  

Debtors: amounts falling due within one year
 5 
2,148
1,600

Cash at bank and in hand
 6 
9,777
10,085

  
11,925
11,685

Creditors: amounts falling due within one year
 7 
(185,401)
(181,414)

Net current liabilities
  
 
 
(173,476)
 
 
(169,729)

Total assets less current liabilities
  
226,524
208,645

Creditors: amounts falling due after more than one year
 8 
(237,510)
(237,510)

Provisions for liabilities
  

Deferred tax
  
(5,407)
-

  
 
 
(5,407)
 
 
-

Net liabilities
  
(16,393)
(28,865)


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
16,220
-

Profit and loss account
  
(32,713)
(28,965)

  
(16,393)
(28,865)


Page 1

 
3 RIVERS PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 13130097
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 profit and loss account 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: 




David Houlihan-Burne
Director

Date: 21 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

3 Rivers Property Holdings Limited (13130097)  is a private company limited by shares and incorporated in England and Wales. The registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have prepared the accounts on a going concern basis as they have provided assurance that they will continue to support the company to meet its liabilities as they fall due.

 
2.3

Revenue

Revenue represents rents and service charges receivable recognised in the period in which the services are provided in accordance with the rental agreement. Rent receivable is invoiced monthly at the beginning of the month for which the rental income relates. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

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

 
2.8

Investment property

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

 
2.9

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.

 
2.10

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.

Page 4

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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 within the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing
Page 5

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
378,374


Surplus on revaluation
21,626



At 31 March 2024
400,000





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
378,374
378,347


5.


Debtors

2024
2023
£
£


Other debtors
2,148
1,600



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
9,777
10,085


Page 7

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
180,450
175,812

Other creditors
1,101
1,102

Accruals and deferred income
3,850
4,500

185,401
181,414



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
237,510
237,510


The following liabilities were secured:

2024
2023
£
£



Bank loan
237,510
237,510

237,510
237,510

Details of security provided:

Creditors due after one year include an interest only loan to the value of £237,510 (2023 - £237,510) which is secured by way of a fixed charge over the freehold investment property.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2024
2023
£
£


Repayable other than by instalments
237,510
237,510

237,510
237,510

This loan is interest only and will be fully repayable in June 2046. Interest will be charged at the providers standard variable rate after 30 April 2026.

Page 8

 
3 RIVERS PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024


£






Charged to profit or loss
(5,407)



At end of year
(5,407)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Unrealised chargeable gains
(5,407)
-


10.


Reserves

Other reserves

The other reserves comprise the balance of revaluations relating to the investment property net of deferred tax on the gain.

Profit and loss account

The profit and loss account comprise the balance of profits accumulated over the life of the company.

 
Page 9