REGISTERED NUMBER: |
R & W Investments Limited |
Unaudited Financial Statements |
for the Year Ended 31 January 2025 |
REGISTERED NUMBER: |
R & W Investments Limited |
Unaudited Financial Statements |
for the Year Ended 31 January 2025 |
R & W Investments Limited (Registered number: SC240247) |
Contents of the Financial Statements |
for the Year Ended 31 January 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
R & W Investments Limited |
Company Information |
for the Year Ended 31 January 2025 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 Ainslie Place |
Edinburgh |
Midlothian |
EH3 6AT |
BANKERS: |
Edinburgh North Morningside |
8 Morningside Road |
Edinburgh |
EH10 4DD |
R & W Investments Limited (Registered number: SC240247) |
Balance Sheet |
31 January 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
R & W Investments Limited (Registered number: SC240247) |
Balance Sheet - continued |
31 January 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
The financial statements were approved by the director and authorised for issue on |
R & W Investments Limited (Registered number: SC240247) |
Notes to the Financial Statements |
for the Year Ended 31 January 2025 |
1. | STATUTORY INFORMATION |
R & W Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Turnover and revenue recognition |
Turnover shown in the profit and loss account represents rent receivable during the period, recognised based on rent due in accordance with rent agreement. |
Lease premium |
Lease premium received included in provisions for liabilities is charged to other income over the period of the lease. |
Tangible fixed assets |
Plant and machinery etc | - |
R & W Investments Limited (Registered number: SC240247) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
2. | ACCOUNTING POLICIES - continued |
Investment property |
Investment properties are shown at their open market value. Any surplus or deficit arising from changes in fair value are recognised in the profit and loss account for the year. A reduction in value due to fluctuation in the property market conditions is not considered to be permanent. |
This is in accordance with the FRS102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the Companies Act is required in order to give a true and fair view. |
Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve with the relevant change in fair value. |
Financial instruments |
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
All loans with related parties are all repayable on demand. |
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. |
R & W Investments Limited (Registered number: SC240247) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
2. | ACCOUNTING POLICIES - continued |
Provision for liabilities |
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2024 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 February 2024 |
and 31 January 2025 |
DEPRECIATION |
At 1 February 2024 |
and 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2024 |
and 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 31 January 2024 |
R & W Investments Limited (Registered number: SC240247) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 January 2025 is represented by: |
£ |
Valuation in 2013 | 177,229 |
Valuation in 2022 | 62,771 |
Cost | 373,805 |
613,805 |
If investment property had not been revalued it would have been included at the following historical cost: |
2025 | 2024 |
£ | £ |
Cost | 373,805 | 373,805 |
The investment property was valued on an open market basis basis on 31 January 2025 by the director . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Taxation and social security |
Other creditors |
The director's current account is unsecured, interest free and has no fixed repayment period. |
8. | SECURED DEBTS |
The Bank of Scotland holds a bond and floating charge on the whole assets of the company. |
R & W Investments Limited (Registered number: SC240247) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2025 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 February 2024 |
transfer in year | (1,640 | ) |
At 31 January 2025 |
The fair value reserve represents the net revaluation surplus on investment properties that is not readily distributable as realised earnings. |