Silverfin false 27 March 2025 27 March 2025 Philip Mills MSc BA ACA Old Mill Audit Limited 107 74 false true 30/09/2024 01/10/2023 30/09/2024 Ms J. Couch 21/11/2022 Ms K. Davies 30/07/2024 05/05/2023 Mr B. Fry 01/07/2021 Mr C. Carter-Keall 25/01/2024 Mr S. Patel 31/03/2023 Mr P. Redman 25/01/2024 01/07/2021 Mr D. Stead 06/06/2024 17/07/2022 Mr M. B. Woodman 01/07/2021 27 March 2025 The principal activity of the company continued to be a general partner to the Retirement Housing Partnership. 03441914 2024-09-30 03441914 bus:Director1 2024-09-30 03441914 bus:Director2 2024-09-30 03441914 bus:Director3 2024-09-30 03441914 bus:Director4 2024-09-30 03441914 bus:Director5 2024-09-30 03441914 bus:Director6 2024-09-30 03441914 bus:Director7 2024-09-30 03441914 bus:Director8 2024-09-30 03441914 2023-09-30 03441914 core:CurrentFinancialInstruments 2024-09-30 03441914 core:CurrentFinancialInstruments 2023-09-30 03441914 core:ShareCapital 2024-09-30 03441914 core:ShareCapital 2023-09-30 03441914 core:RetainedEarningsAccumulatedLosses 2024-09-30 03441914 core:RetainedEarningsAccumulatedLosses 2023-09-30 03441914 core:CostValuation 2023-09-30 03441914 core:CostValuation 2024-09-30 03441914 bus:OrdinaryShareClass1 2024-09-30 03441914 2023-10-01 2024-09-30 03441914 bus:FilletedAccounts 2023-10-01 2024-09-30 03441914 bus:SmallEntities 2023-10-01 2024-09-30 03441914 bus:Audited 2023-10-01 2024-09-30 03441914 2022-10-01 2023-09-30 03441914 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03441914 bus:Director1 2023-10-01 2024-09-30 03441914 bus:Director2 2023-10-01 2024-09-30 03441914 bus:Director3 2023-10-01 2024-09-30 03441914 bus:Director4 2023-10-01 2024-09-30 03441914 bus:Director5 2023-10-01 2024-09-30 03441914 bus:Director6 2023-10-01 2024-09-30 03441914 bus:Director7 2023-10-01 2024-09-30 03441914 bus:Director8 2023-10-01 2024-09-30 03441914 core:Subsidiary1 2023-10-01 2024-09-30 03441914 core:Subsidiary1 1 2023-10-01 2024-09-30 03441914 core:Subsidiary1 1 2022-10-01 2023-09-30 03441914 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 03441914 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 03441914 1 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 03441914 (England and Wales)

RETIREMENT RENTALS LIMITED

Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RETIREMENT RENTALS LIMITED

Financial Statements

For the financial year ended 30 September 2024

Contents

RETIREMENT RENTALS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
RETIREMENT RENTALS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS Ms J. Couch
Ms K. Davies (Resigned 30 July 2024)
Mr B. Fry
Mr C. Carter-Keall (Appointed 25 January 2024)
Mr S. Patel
Mr P. Redman (Resigned 25 January 2024)
Mr D. Stead (Resigned 06 June 2024)
Mr M. B. Woodman
REGISTERED OFFICE First Floor 2 Tangier Central
Castle Street
Taunton
TA1 4AS
United Kingdom
COMPANY NUMBER 03441914 (England and Wales)
AUDITOR Old Mill Audit Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
RETIREMENT RENTALS LIMITED

BALANCE SHEET

As at 30 September 2024
RETIREMENT RENTALS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 1 1
1 1
Current assets
Debtors 4 4,025 33,653
Cash at bank and in hand 26 5
4,051 33,658
Creditors: amounts falling due within one year 5 ( 4,423) ( 33,923)
Net current liabilities (372) (265)
Total assets less current liabilities (371) (264)
Net liabilities ( 371) ( 264)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 373 ) ( 266 )
Total shareholder's deficit ( 371) ( 264)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Comprehensive Income has not been delivered.

The financial statements of Retirement Rentals Limited (registered number: 03441914) were approved and authorised for issue by the Board of Directors on 27 March 2025. They were signed on its behalf by:

Ms J. Couch
Director
RETIREMENT RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RETIREMENT RENTALS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

Retirement Rentals Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor 2 Tangier Central, Castle Street, Taunton, TA1 4AS, 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 £.

This company is a qualifying entity for the purposes of FRS102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following requirements:

• Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’ – Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate financial support from the ultimate parent company to continue in operational existence for the foreseeable future. The directors acknowledge that the company has made a loss in the year of £107 (2023: £74) and the net liabilities of the company are £371 (2023: £264), the parent company is well capitalised and has adequate resources to support the company for the foreseeable future and thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Group accounts exemption

Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Retirement Rentals Limited is a wholly owned subsidiary of ReSI Property Management Limited and the results of Retirement Rentals Limited are included in the consolidated financial statements of Searchlight Capital Partners which are available from 745 Fifth Avenue, New York, NY 10151, US.

Turnover

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Impairment of assets

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 Statement of Comprehensive Income as described below.

Fixed asset investments

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, including investments in subsidiaries, are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 1
At 30 September 2024 1
Carrying value at 30 September 2024 1
Carrying value at 30 September 2023 1

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.09.2024
Ownership
30.09.2023
Held
Retirement Rentals Nominee Company 1 Limited UK Other letting and operating of own or leased real estate Ordinary 100.00% 100.00% Direct

4. Debtors

2024 2023
£ £
Trade debtors 10 15,579
Amounts owed by Group undertakings 4,015 18,074
4,025 33,653

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10 15,579
Amounts owed to Group undertakings 1 1
Accruals 0 11,301
Other creditors 4,412 7,042
4,423 33,923

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts due from parent company (debtor) 4,048 18,073

8. Audit Opinion

The auditor's report on the accounts for the financial year ended 30 September 2024 was unqualified.

The audit report was signed by Philip Mills MSc BA ACA on behalf of Old Mill Audit Limited, Leeward House.

9. Ultimate controlling party

Parent Company:

Searchlight Capital Partners
754 Fifth Avenue
New York
NY 10151
US

Consolidated financial statements can be obtained from the above registered headquarters address.