Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-311true2023-04-01falseNo description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09330654 2023-04-01 2024-03-31 09330654 2022-04-01 2023-03-31 09330654 2024-03-31 09330654 2023-03-31 09330654 c:Director1 2023-04-01 2024-03-31 09330654 d:FreeholdInvestmentProperty 2024-03-31 09330654 d:FreeholdInvestmentProperty 2023-03-31 09330654 d:CurrentFinancialInstruments 2024-03-31 09330654 d:CurrentFinancialInstruments 2023-03-31 09330654 d:Non-currentFinancialInstruments 2024-03-31 09330654 d:Non-currentFinancialInstruments 2023-03-31 09330654 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09330654 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09330654 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 09330654 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09330654 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09330654 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09330654 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09330654 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09330654 d:ShareCapital 2024-03-31 09330654 d:ShareCapital 2023-03-31 09330654 d:RetainedEarningsAccumulatedLosses 2024-03-31 09330654 d:RetainedEarningsAccumulatedLosses 2023-03-31 09330654 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09330654 c:OrdinaryShareClass1 2024-03-31 09330654 c:OrdinaryShareClass1 2023-03-31 09330654 c:FRS102 2023-04-01 2024-03-31 09330654 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09330654 c:FullAccounts 2023-04-01 2024-03-31 09330654 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09330654 2 2023-04-01 2024-03-31 09330654 d:OtherDeferredTax 2024-03-31 09330654 d:OtherDeferredTax 2023-03-31 09330654 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09330654









RIGHT INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
RIGHT INVESTMENTS LIMITED
REGISTERED NUMBER: 09330654

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
3,500,000
3,500,000

  
3,500,000
3,500,000

Current assets
  

Debtors: amounts falling due within one year
 5 
146,153
124,992

Cash at bank and in hand
  
86,551
126,079

  
232,704
251,071

Creditors: amounts falling due within one year
 6 
(694,122)
(1,956,301)

Net current liabilities
  
 
 
(461,418)
 
 
(1,705,230)

Total assets less current liabilities
  
3,038,582
1,794,770

Creditors: amounts falling due after more than one year
 7 
(1,247,669)
(21,667)

Provisions for liabilities
  

Deferred tax
 9 
(347,779)
(264,312)

  
 
 
(347,779)
 
 
(264,312)

Net assets
  
1,443,134
1,508,791


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
1,443,133
1,508,790

  
1,443,134
1,508,791


Page 1

 
RIGHT INVESTMENTS LIMITED
REGISTERED NUMBER: 09330654
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 income and retained earnings 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 on 30 November 2024.




Tariq Afzal
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 09330654.  The Company's registered office is Sterling House, 71 Francis Road, Edgbaston, Birmingham, B16 8SP.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

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.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental of investment property
Turnover from the rental of investment property is recognised when all the following conditions are satisfied:
-   the amount of turnover can be measured reliably;
-   it is probable that the Company will receive consideration due for the rental of property;
-   the period of rental can be measured reliably; and 
-   the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

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

 
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.

Page 3

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Borrowing costs

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

 
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

Investment property

Investment property is carried at fair value determined annually by external valuers 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

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

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.

 
2.10

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.

Page 4

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
3,500,000



At 31 March 2024
3,500,000

During the year deferred tax was recalculated by £83,467 on the previous revaluations to the latest enacted tax rate.


Comprising


Cost
1,959,372

Annual revaluation surplus/(deficit):


2017
1,305,405

2021
235,223

At 31 March 2024
3,500,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.







5.


Debtors

2024
2023
£
£


Trade debtors
45,642
5,634

Other debtors
87,513
106,117

Prepayments and accrued income
12,998
13,241

146,153
124,992


Page 6

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
40,483
1,312,614

Trade creditors
3,050
7,873

Corporation tax
5,932
9,643

Other taxation and social security
5,629
5,220

Other creditors
593,087
560,561

Accruals and deferred income
45,941
60,390

694,122
1,956,301


The following liabilities were secured:

2024
2023
£
£



Bank loans
30,483
1,302,614

30,483
1,302,614

Details of security provided:

Bank loans are secured by fxed charges, held by Lloyds PLC, over the properties known as:
10-15 Broad Street, Banbury; 
1 Ewehurst Avenue, Birmingham; and 
13 Bennets Hill, Birmingham.
The loan is further secured by a debenture incorporating a floating charge over the assets of the company.

Page 7

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,247,669
21,667

1,247,669
21,667


The following liabilities were secured:

2024
2023
£
£



Bank loans
1,236,002
-

1,236,002
-

Details of security provided:

Bank loans are secured by fxed charges, held by Lloyds PLC, over the properties known as:
10-15 Broad Street, Banbury; 
1 Ewehurst Avenue, Birmingham; and 
13 Bennets Hill, Birmingham.
The loan is further secured by a debenture incorporating a floating charge over the assets of the company.

Page 8

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
40,483
1,312,614


40,483
1,312,614

Amounts falling due 1-2 years

Bank loans
42,851
10,000


42,851
10,000

Amounts falling due 2-5 years

Bank loans
1,204,818
11,667


1,204,818
11,667


1,288,152
1,334,281



9.


Deferred taxation




2024


£






At beginning of year
(264,312)


Charged to profit or loss
(83,467)



At end of year
(347,779)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investment properties
(347,779)
(264,312)

(347,779)
(264,312)

Page 9

 
RIGHT INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



11.


Related party transactions

During the year the director received a loan of £18,939 (2023 - £29,165) and made loans to the company of £1,000 (2023 - £2,000).  In addition the director settled expenses of £33,105 (2023 - £55,901) on behalf of the company.  The amount due from the director as at 31 March 2024 was £47,721 (2023 - £62,887).  
Interest has been charged at an average of 2.25% (2023 - 2%) in the year.  Loans are repayable on demand.  Loans have been repaid since the year end.

 
Page 10