| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| R & SD PROPERTIES LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| R & SD PROPERTIES LIMITED |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| R & SD PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Appledram Barns |
| Birdham Road |
| Chichester |
| West Sussex |
| PO20 7EQ |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| BALANCE SHEET |
| 31 AUGUST 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Prepayments and accrued income |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| BALANCE SHEET - continued |
| 31 AUGUST 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 1. | STATUTORY INFORMATION |
| R & SD Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents the total rents receivable during the year from the company’s property letting activities, exclusive of Value Added Tax, and is recognised on a straight-line basis over the period of the lease. |
| Investment property |
| Investment properties are properties held to earn rentals and/or for capital appreciation. |
| Investment properties (including leasehold property) are initially recognised at cost, including directly attributable transaction costs. Subsequently, they are measured at fair value at each reporting date. Any changes in fair value are recognised in profit or loss in the period in which they arise. |
| No depreciation is provided in respect of investment properties. |
| The directors assess the fair value of investment properties annually based on market evidence, including independent valuations where considered appropriate. |
| Financial instruments |
| Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Going concern |
| These financial statements have been prepared on the going concern basis. The directors and shareholders have reviewed the state of the business and confirmed that their support will remain in place for at least 12 months from the date of signing the accounts. Therefore, it is the directors opinion that the business remains a going concern. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| and 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| The investment property was appraised by Henry Adams LLP on 27 October 2021. The company acquired the property portfolio at its market value of £18,192,147 including legal and professional fees. A subsequent property was purchased following the valuation for £240,642, along with legal and professional costs incurred of £86,153. |
| It is the opinion of the directors that the value of the investment property has not changed between the balance sheet date and the date of the appraisal and/or acquisition. |
| Therefore no provision has been made for deferred tax. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2024 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Bank loans outstanding at the reporting date are due after more than five years. |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| A charge is placed over the assets that have been secured. The debts are secured on the assets to which they relate. |
| 9. | OPERATING LEASES |
| The company has operating lease commitments in relation to ground rents on various properties held. |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest has been charged on the above loan at the official rates. The loan is repayable on demand and has been repaid in full since the year end. |