Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Restated - note 2 | ||||
| Fixed assets | ||||
| Investments | 4 |
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| 100,000 | 294,757 | |||
| Current assets | ||||
| Debtors | ||||
| - due within one year | 5 |
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| - due after more than one year | 5 |
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| Cash at bank and in hand |
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| 1,646,117 | 1,494,147 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 324,105 | 269,518 | ||
| Total assets less current liabilities | 424,105 | 564,275 | ||
| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Regional Property Investment Management Ltd (registered number:
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Stephen Inglis
Director |
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.
Regional Property Investment Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Johnston Carmichael, 227 West George Street, Glasgow, G2 2ND, Scotland, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The prior year was adjusted to bring in the Investment held by Regional Property Investment Management Ltd in Pacific Shelf 1864 Limited onto the balance sheet. This has increased the investments held as at 30/09/2024 to £294,757 and the amounts due to directors as at 30/09/2024 to £1,221,915.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
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.
Financial assets
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
A prior year adjustment was made to bring an investment held by Regional Property Investment Management Ltd in the company Pacific Shelf 1864 Limited. These shares were purchased a number of years ago but were missed from the accounts.
| As previously reported | Adjustment | As restated | ||||
| Year ended 30 September 2024 | £ | £ | £ | |||
| Investments | 100,000 | 194,757 | 294,757 | |||
| Director's Loan Account | (1,027,158) | (194,757) | (1,221,915) |
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| Other investments | Total | ||
| £ | £ | ||
| Cost or valuation before impairment | |||
| At 01 October 2024 |
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| Disposals | (
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| At 30 September 2025 |
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| Carrying value at 30 September 2025 |
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| Carrying value at 30 September 2024 |
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| 2025 | 2024 | ||
| £ | £ | ||
| Debtors: amounts falling due within one year | |||
| Amounts owed by connected companies |
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| Other debtors |
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| Debtors: amounts falling due after more than one year | |||
| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Other creditors |
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Amounts owed to related parties are repayable on demand and do not bear interest.
| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed to Director | 1,319,657 | 1,221,915 |
Other related party transactions
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by related parties | 332,310 | 332,310 |