Company No: 12823235 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

Director	R M Harris (Resigned 25 April 2024)
	L G Marks

Secretary

I Gadilhe

Registered office	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA
	United Kingdom

Company number

12823235 (England and Wales)

Accountant	Kreston Reeves LLP
	2nd Floor
	168 Shoreditch High Street
	London
	E1 6RA

	Note	2024		2023
		£		£
Fixed assets
Investment property	3	4,950,000		4,015,000
		4,950,000		4,015,000
Current assets
Debtors	4	547,830		433,123
Cash at bank and in hand		155,908		158,258
		703,738		591,381
Creditors: amounts falling due within one year	5	( 3,745,204)		( 3,857,645)
Net current liabilities		(3,041,466)		(3,266,264)
Total assets less current liabilities		1,908,534		748,736
Provision for liabilities	6	( 297,729)		( 63,979)
Net assets		1,610,805		684,757
Capital and reserves
Called-up share capital	7	1		1
Revaluation reserve		893,187		191,937
Profit and loss account		717,617		492,819
Total shareholder's funds		1,610,805		684,757

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Rias (Watford) Limited (registered number: 12823235) were approved and authorised for issue by the Director on 25 September 2025. They were signed on its behalf by:

L G Marks Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Rias (Watford) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, 168 Shoreditch High Street, London, E1 6RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rents and service charges from tenants, credit for which is taken on an accrual basis excluding discounts, rebates, value added tax and other sales taxes.

Interest income

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

Taxation

Current 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
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.

Investment property

Investment property is carried at fair value determined annually by the director 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 and loss account.

Trade and other 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.

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.

Trade and other 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.

Provisions

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. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year	1		1

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	4,015,000
Fair value movement	935,000
As at 31 December 2024	4,950,000

Valuation

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

Historic cost

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

	2024		2023
	£		£
Historic cost	3,759,084		3,759,084

4. Debtors

	2024		2023
	£		£
Trade debtors	87,231		122,127
Amounts owed by Group undertakings	43,807		0
Prepayments	18,642		17,192
Corporation tax	37,516		0
Other debtors	360,634		293,804
	547,830		433,123

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	13,154		3,580
Amounts owed to Group undertakings	3,573,569		3,589,762
Accruals and deferred income	67,135		113,363
Taxation and social security	50,701		98,113
Other creditors	40,645		52,827
	3,745,204		3,857,645

6. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 63,979)		( 63,979)
Charged to the Profit and Loss Account	( 233,750)		0
At the end of financial year	( 297,729)		( 63,979)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Revaluation of investment property	( 297,729)		( 63,979)

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

8. Reserves

Share capital

This represents the nominal value of shares that have been issued by the company.

Revaluation reserve

The revaluation reserve is used to record revaluation gains on the investment property, less any related provision for deferred taxation.

Profit and loss account

The Profit and loss account comprises all current and prior period retained profits and losses.

9. Controlling party

The company regards Rias Investments One Limited, a company registered in England and Wales as its immediate and ultimate parent company.