REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
REGENT NORTH END PROPERTIES 1 LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
REGENT NORTH END PROPERTIES 1 LIMITED |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
REGENT NORTH END PROPERTIES 1 LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
55 Loudoun Road |
London |
NW8 0DL |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
BALANCE SHEET |
31 DECEMBER 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Fair value reserve | 13 |
Retained earnings | 13 |
SHAREHOLDERS' FUNDS |
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. |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
BALANCE SHEET - continued |
31 DECEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Regent North End Properties 1 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Regent North End Properties 1 Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover represents rent received. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in fair value reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT IN SUBSIDIARY |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
4. | INVESTMENT IN SUBSIDIARY - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: MGR SD Limited Chartered Accountants |
Nature of business: |
% |
Class of shares: | holding |
31.12.24 | 31.12.23 |
£ | £ |
Aggregate capital and reserves |
Profit for the year |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
The directors believe that the fair value of the property is correct as at the balance sheet date. |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Amounts owed by group undertaking |
Amounts owed by related party |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Amounts owed by related party |
Taxation and social security |
Other creditors |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans (see note 9) |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 1,425,000 | 1,525,000 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.12.24 | 31.12.23 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more than 5 years | 1,425,000 | 1,525,000 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.24 | 31.12.23 |
£ | £ |
Bank loans |
The bank indebtedness is secured by a fixed charge over the investment property and a debenture over the |
remaining assets of both the company and the related party Regent North End Properties 2 Limited. |
11. | PROVISIONS FOR LIABILITIES |
31.12.24 | 31.12.23 |
£ | £ |
Deferred tax | 176,462 | 176,462 |
REGENT NORTH END PROPERTIES 1 LIMITED (REGISTERED NUMBER: 09305428) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
11. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 January 2024 |
Balance at 31 December 2024 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |
13. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2024 | 786,295 |
Profit for the year |
At 31 December 2024 | 818,453 |
The fair value reserve is non distributable. |
14. | RELATED PARTY DISCLOSURES |
Included in debtors is an amount of £670,900 (2023:£655,900) due from the subsidiary company, Regent North End Properties 3 Limited. |
Included in debtors is an amount of £775,105 (2023:£775,505) due from Regent North End Properties 2 Limited, a company related by common shareholding. |
Included in creditors is an amount of £36,000 (2023:Nil) due to Valvano Limited, a company in which Mr R J Blair is also a director. |
The company's loan facility with Investec Bank plc is secured with fixed charge over the investment property and a debenture over the remaining assets of Regent North End Properties 2 Limited and Regent North End Properties 3 Limited. |