Company No: 13464515 (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

13464515 (England and Wales)

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

	Note	2024		2023
		£		£
Fixed assets
Investment property	3	2,500,000		2,700,000
		2,500,000		2,700,000
Current assets
Debtors	4	60,735		60,676
Cash at bank and in hand		294,300		125,840
		355,035		186,516
Creditors: amounts falling due within one year	5	( 3,184,841)		( 3,187,432)
Net current liabilities		(2,829,806)		(3,000,916)
Total assets less current liabilities		(329,806)		(300,916)
Net liabilities		( 329,806)		( 300,916)
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		( 329,807 )		( 300,917 )
Total shareholder's deficit		( 329,806)		( 300,916)

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 Kingsland Limited (registered number: 13464515) were approved and authorised for issue by the Director on 29 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 Kingsland 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 £.

Going concern

Despite the company reporting net current liabilities of £2,829,806 (2023: £3,000,916) and net liabilities of £329,806 (2023: £300,916) as at 31 December 2024, the financial statements have been prepared on a going concern basis. Included within "Creditors: amounts due within one year" is an amount of £3,110,355 (2023: £3,110,355) to the company's parent undertaking who have confirmed they will not call for repayment of this sum until the company has sufficient cash reserves to do so, without prejudice to the company's other creditors, and for a period of at least twelve months from the date of approval of the financial statements.

For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

Turnover

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

Interest income

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

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

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

3. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	2,700,000
Fair value movement	(200,000)
As at 31 December 2024	2,500,000

Valuation

The 2024 valuation was 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	3,162,708		3,162,708

4. Debtors

	2024		2023
	£		£
Other debtors	60,735		60,676

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	5,377		2,691
Amounts owed to Group undertakings	3,110,355		3,110,355
Corporation tax	11,333		15,259
Other taxation and social security	8,354		9,662
Other creditors	49,422		49,465
	3,184,841		3,187,432

6. Called-up share capital

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

7. Ultimate controlling party

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