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REGISTERED NUMBER: 11501272 (England and Wales)















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: Mrs S D Ellis
R Ellis





REGISTERED OFFICE: Appledram Barns
Birdham Road
Chichester
West Sussex
PO20 7EQ





REGISTERED NUMBER: 11501272 (England and Wales)





ACCOUNTANTS: Lewis Brownlee (Chichester) Limited
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 18,518,942 18,518,942

CURRENT ASSETS
Debtors 5 154,139 105,434
Prepayments and accrued income 23,860 17,093
Cash at bank 7,121 33,463
185,120 155,990
CREDITORS
Amounts falling due within one year 6 343,141 359,256
NET CURRENT LIABILITIES (158,021 ) (203,266 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,360,921

18,315,676

CREDITORS
Amounts falling due after more than one year 7 (9,060,159 ) (9,060,159 )

ACCRUALS AND DEFERRED INCOME (76,333 ) (47,094 )
NET ASSETS 9,224,429 9,208,423

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 9,261,841 9,261,841
Retained earnings (47,412 ) (63,418 )
SHAREHOLDERS' FUNDS 9,224,429 9,208,423

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

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

R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272)

BALANCE SHEET - continued
31 AUGUST 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2025 and were signed on its behalf by:





Mrs S D Ellis - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 18,518,942
NET BOOK VALUE
At 31 August 2024 18,518,942
At 31 August 2023 18,518,942

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 67 -
Other debtors 154,072 105,434
154,139 105,434

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 97,385 107,361
Taxation and social security 4,835 10,973
Other creditors 240,921 240,922
343,141 359,256

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,060,159 9,060,159

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 9,060,159 9,060,159

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
£    £   
Mrs S D Ellis and R Ellis
Balance outstanding at start of year 80,804 109,289
Amounts advanced 83,639 188,821
Amounts repaid (135,000 ) (217,306 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,443 80,804

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.