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REGISTERED NUMBER: 04502486 (England and Wales)















RPS PROPERTY MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024






RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RPS PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: P S Edwards BSc MRICS
S A Edwards





REGISTERED OFFICE: Unit 1 Tilcon Avenue
Stafford
ST18 0YJ





REGISTERED NUMBER: 04502486 (England and Wales)

RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 675,000 675,000

CURRENT ASSETS
Debtors 5 1,596 1,778
Cash at bank and in hand 4,499 1,296
6,095 3,074
CREDITORS
Amounts falling due within one year 6 (218,918 ) (155,304 )
NET CURRENT LIABILITIES (212,823 ) (152,230 )
TOTAL ASSETS LESS CURRENT LIABILITIES 462,177 522,770

CREDITORS
Amounts falling due after more than one
year

7

(308,188

)

(382,255

)

PROVISIONS FOR LIABILITIES (10,581 ) (10,581 )
NET ASSETS 143,408 129,934

CAPITAL AND RESERVES
Called up share capital 9 4 4
Revaluation reserve 10 45,109 45,109
Retained earnings 98,295 84,821
SHAREHOLDERS' FUNDS 143,408 129,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

BALANCE SHEET - continued
31 MAY 2024


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 9 October 2024 and were signed on its behalf by:





P S Edwards BSc MRICS - Director


RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

RPS Property Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years present unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rent receivable

Rental income from operating leases net of any incentives given to the lessees is recognised on a a straight line basis over the term of lease.

Tangible fixed assets
Purchase and development costs of property are include in Land and Buildings, as the development is still under the course of construction no depreciation has been provided. On completion the development will be accounted as an investment property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 675,000
NET BOOK VALUE
At 31 May 2024 675,000
At 31 May 2023 675,000

Cost or valuation at 31 May 2024 is represented by:

Land and
buildings
£   
Valuation in 2016 619,310
Valuation in 2022 55,690
675,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 813
VAT 422 439
Prepayments and accrued income 1,174 526
1,596 1,778

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 170,862 121,195
Trade creditors 21,037 5,054
Tax 4,220 5,404
Other creditors 1,000 1,000
Accruals and deferred income 21,799 22,651
218,918 155,304

RPS PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04502486)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 88,188 169,255
Amounts owed to associates 220,000 213,000
308,188 382,255

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 259,050 290,450

Bank loans totalling £259,050 (2023 - £290,450) are secured by a debenture and a charge over freehold property held by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary shares 1 4 4

10. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 45,109

11. RELATED PARTY DISCLOSURES

The amounts owed to associates is only payable after bank loans have been settled in full.

The Directors of the company have provided guarantees of £120,000 in respect of bank loans.