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REGISTERED NUMBER: 09076383 (England and Wales)










RRPI (UK) Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2023






RRPI (UK) Ltd (Registered number: 09076383)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RRPI (UK) Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: R M Porter Ceo
D M Ralph





SECRETARY: D M Ralph





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 09076383 (England and Wales)

RRPI (UK) Ltd (Registered number: 09076383)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 5 7,669,507 7,669,507

CURRENT ASSETS
Debtors 6 14,044 106,346
Cash at bank 134,677 60,388
148,721 166,734
CREDITORS
Amounts falling due within one year 7 (5,494,890 ) (5,081,785 )
NET CURRENT LIABILITIES (5,346,169 ) (4,915,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,323,338

2,754,456

CREDITORS
Amounts falling due after more than one
year

8

(1,700,445

)

(2,148,691

)

PROVISIONS FOR LIABILITIES (102,580 ) (102,580 )
NET ASSETS 520,313 503,185

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 404,609 404,609
Profit and loss account 115,604 98,476
SHAREHOLDERS' FUNDS 520,313 503,185

RRPI (UK) Ltd (Registered number: 09076383)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





R M Porter Ceo - Director


RRPI (UK) Ltd (Registered number: 09076383)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA

The principal place of business is:
Solent Group
The Pump House
16 Queens Avenue
Christchurch
Dorset
BH23 1BZ

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is pound sterling.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

GOING CONCERN
The financial statements have been prepared on a going concern basis based upon the support from its parent undertakings.

REVENUE RECOGNITION
Turnover represents amounts chargeable in respect of rents receivable, which are recognised in the accounts in the period in which they are due.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

INVESTMENT PROPERTY
Investment property is carried at fair value, derived from the current market prices for comparable real estate
determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Fair value gains and losses along with the associated deferred tax are transferred to a separate revaluation reserve as shown in the statement of changes in equity.


RRPI (UK) Ltd (Registered number: 09076383)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued
TAX
Current tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

TRADE DEBTORS
Trade debtors are amounts due from customers for rents receivable in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

TRADE CREDITORS
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

BORROWINGS
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

SHARE CAPITAL
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

RRPI (UK) Ltd (Registered number: 09076383)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 7,669,507
NET BOOK VALUE
At 31 December 2023 7,669,507
At 31 December 2022 7,669,507

The valuations have been performed by the Directors. The Investment Properties have a current value of £7,669,507 (2022 - £ 7,669,507) and a carrying amount at historical cost of £7,162,318 (2022 - 7,162,318).


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,050 -
Amounts owed by related parties - 101,050
Other debtors 2,766 2,649
Prepayments and accrued income 10,228 2,647
14,044 106,346

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 330,000 135,000
Trade creditors 8,464 5,007
Corporation tax liability 4,444 10,195
Amounts owed to related parties 4,165,258 3,976,262
Directors' current accounts 951,431 931,917
Accruals and deferred income 35,293 23,404
5,494,890 5,081,785

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loans and borrowings (see note 9) 1,700,445 2,148,691

9. LOANS AND BORROWINGS

An analysis of the maturity of loans and borrowings is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 330,000 135,000

RRPI (UK) Ltd (Registered number: 09076383)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. LOANS AND BORROWINGS - continued
2023 2022
£    £   
Amounts falling due between one and two years:
Bank borrowings 1,700,445 2,148,691

Bank borrowings

The bank borrowings is secured against the personal assets of the shareholder of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

11. PARENT AND ULTIMATE PARENT UNDERTAKING

The company is controlled by PP Commercial Enterprises Limited who is an 80% shareholder of the company. PP Commercial Enterprises Limited is controlled by it's Directors RM Porter and J C Porter.