3 false false false false false false false false false false true false false false false false false No description of principal activity 2025-01-01 Sage Accounts Production Advanced 2025 - FRS102_2025 1,850,000 1,850,000 1,850,000 xbrli:pure xbrli:shares iso4217:GBP 9771554 2025-01-01 2025-12-31 9771554 2025-12-31 9771554 2024-12-31 9771554 2024-01-01 2024-12-31 9771554 2024-12-31 9771554 2023-12-31 9771554 bus:Director1 2025-01-01 2025-12-31 9771554 bus:Director2 2025-01-01 2025-12-31 9771554 core:WithinOneYear 2025-12-31 9771554 core:WithinOneYear 2024-12-31 9771554 core:AfterOneYear 2025-12-31 9771554 core:AfterOneYear 2024-12-31 9771554 core:ShareCapital 2025-12-31 9771554 core:ShareCapital 2024-12-31 9771554 core:OtherReservesSubtotal 2025-12-31 9771554 core:OtherReservesSubtotal 2024-12-31 9771554 core:RetainedEarningsAccumulatedLosses 2025-12-31 9771554 core:RetainedEarningsAccumulatedLosses 2024-12-31 9771554 core:LandBuildings core:OwnedOrFreeholdAssets 2025-12-31 9771554 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 9771554 bus:Director1 2024-12-31 9771554 bus:Director1 2023-12-31 9771554 bus:Director2 2024-12-31 9771554 bus:Director2 2023-12-31 9771554 bus:SmallEntities 2025-01-01 2025-12-31 9771554 bus:AuditExemptWithAccountantsReport 2025-01-01 2025-12-31 9771554 bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 9771554 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 9771554 bus:FullAccounts 2025-01-01 2025-12-31
COMPANY REGISTRATION NUMBER: 9771554

Ref Investments Limited

Filleted Unaudited Financial Statements

31 December 2025

Ref Investments Limited

Statement of Financial Position

31 December 2025

| 2025 | 2024
Note | £ | £

Fixed assets

Tangible assets | 5 | 1,850,000 | 1,850,000

Current assets

Debtors | 6 | 10,791 | 422
Cash at bank and in hand | 21,007 | 19,467
| -------- | --------
| 31,798 | 19,889

Creditors: amounts falling due within one year | 7 | 430,447 | 430,102
| --------- | ---------
Net current liabilities | 398,649 | 410,213
| ------------ | ------------
Total assets less current liabilities | 1,451,351 | 1,439,787

Creditors: amounts falling due after more than one year | 8 | 1,191,463 | 1,191,277

Provisions

Taxation including deferred tax | 56,148 | 56,148
| ------------ | ------------
Net assets | 203,740 | 192,362
| ------------ | ------------

Capital and reserves

Called up share capital | 4 | 4
Other reserves | 224,593 | 224,593
Profit and loss account | ( 20,857) | ( 32,235)
| --------- | ---------
Shareholders funds | 203,740 | 192,362
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ref Investments Limited

Statement of Financial Position (continued)

31 December 2025
These financial statements were approved by the board of directors and authorised for issue on 9 June 2026 , and are signed on behalf of the board by:

Mrs B Shah | Mrs N Shah
Director | Director

Company registration number: 9771554

Ref Investments Limited

Notes to the Financial Statements

Year ended 31 December 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Hawthorne Avenue, Harrow, Middlesex, HA3 8AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of rental income received during the period, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2024: 3 ).
5. Tangible assets

| Freehold property
| £
Cost |
At 1 January 2025 and 31 December 2025 | 1,850,000
| ------------
Depreciation |
At 1 January 2025 and 31 December 2025 | –
| ------------
Carrying amount |
At 31 December 2025 | 1,850,000
| ------------
At 31 December 2024 | 1,850,000
| ------------

The investment properties are measured at directors' valuation. The director's are of the opinion that the carrying value of the investment properties in the balance sheet is at fair value based on current economic conditions. The valuation is based on recent sales price of similar properties sold in the same vicinity.
6. Debtors

| 2025 | 2024
| £ | £
Other debtors | 10,791 | 422
| -------- | ----

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 68,012 | 68,198
Trade creditors | 120 | 121
Other creditors | 362,315 | 361,783
| --------- | ---------
| 430,447 | 430,102
| --------- | ---------

8. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 1,191,463 | 1,191,277
| ------------ | ------------

Included within creditors: amounts falling due after more than one year is an amount of £1,191,463 (2024: £1,191,277) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is secured against the investment property. The aggregate value of the security is £1,259,475. Mr S Shah, Mrs B Shah and Mrs N Shah , the directors, have given personal guarantees in respect of the bank loan.
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:

| Balance brought forward and outstanding
| 2025 | 2024
| £ | £
Mrs B Shah | ( 180,828) | ( 180,828)
Mrs N Shah | ( 177,098) | ( 177,098)
| --------- | ---------
| ( 357,926) | ( 357,926)
| --------- | ---------

10. Related party transactions
The company was under the control of directors throughout the current period. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.