Company registration number 14228952 (England and Wales)
RAHP PROPERTIES LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
RAHP PROPERTIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RAHP PROPERTIES LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
539,364
393,356
Investment property
4
951,715
170,445
1,491,079
563,801
Current assets
Debtors
5
229,290
8,450
Cash at bank and in hand
757,289
83,086
986,579
91,536
Creditors: amounts falling due within one year
6
(2,517,846)
(666,376)
Net current liabilities
(1,531,267)
(574,840)
Total assets less current liabilities
(40,188)
(11,039)
Provisions for liabilities
4,665
2,116
Net liabilities
(35,523)
(8,923)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(35,623)
(9,023)
Total equity
(35,523)
(8,923)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 April 2025
Mr E Nixon
Director
Company registration number 14228952 (England and Wales)
RAHP PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

RAHP Properties Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Reporting period

The previous year were the first set of financial statements since incorporation and covered a period of approximately 13 months, and as a result are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparation of the financial statements.

1.4
Turnover

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for promotional services provided. Turnover represents the value of goods and services provided in the normal course of business excluding VAT.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Fixtures and fittings
20% Straight Line
Motor vehicles
25% Reducing Balance
1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

RAHP PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

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.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
RAHP PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2023
393,356
-
0
-
0
393,356
Additions
8,104
6,269
137,819
152,192
At 31 July 2024
401,460
6,269
137,819
545,548
Depreciation and impairment
At 1 August 2023
-
0
-
0
-
0
-
0
Depreciation charged in the year
-
0
442
5,742
6,184
At 31 July 2024
-
0
442
5,742
6,184
Carrying amount
At 31 July 2024
401,460
5,827
132,077
539,364
At 31 July 2023
393,356
-
0
-
0
393,356
4
Investment property
2024
£
Fair value
At 1 August 2023
170,445
Additions
781,270
At 31 July 2024
951,715

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 July 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
229,290
8,450
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
2,517,846
666,376
RAHP PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100

 

8
Related party transactions

Included in the amounts owed to other debtors is an amount of £47,063 (2023 - £Nil) which is owed from Roundapple Hotel Partners II Limited, a company which shares a common director. This is included in debtors; amounts falling due within one year.

 

Included in the amounts owed to other creditors is an amount of £2,513,381 (2023 - £662,188) which is owed to RAHoldingsUK Limited, a company which shares a common director. This is included in creditors; amounts falling due within one year.

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