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Company No: 09666377 (England and Wales)

RATHPLACE DEVELOPMENTS LIMITED

Annual Report and Unaudited Financial Statements
For the financial year ended 30 September 2024

RATHPLACE DEVELOPMENTS LIMITED

Annual Report and Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RATHPLACE DEVELOPMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
RATHPLACE DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS P A Ephson
M F E Ephson
L F Ephson
C R Mason
J Seal
REGISTERED OFFICE 22 Chancery Lane
London
WC2A 1LS
United Kingdom
COMPANY NUMBER 09666377 (England and Wales)
RATHPLACE DEVELOPMENTS LIMITED

DIRECTORS' REPORT

For the financial year ended 30 September 2024
RATHPLACE DEVELOPMENTS LIMITED

DIRECTORS' REPORT (continued)

For the financial year ended 30 September 2024

The directors present their annual report and the unaudited financial statements of the company for the financial year ended 30 September 2024.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

P A Ephson
M F E Ephson
L F Ephson
C R Mason
J Seal

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.



Approved by the Board of Directors and signed on its behalf by:

P A Ephson
Director

04 June 2025

RATHPLACE DEVELOPMENTS LIMITED

PROFIT AND LOSS ACCOUNT

For the financial year ended 30 September 2024
RATHPLACE DEVELOPMENTS LIMITED

PROFIT AND LOSS ACCOUNT (continued)

For the financial year ended 30 September 2024
2024 2023
£ £
Turnover 150,000 271,405
Cost of sales ( 137,583) ( 129,269)
Gross profit 12,417 142,136
Administrative expenses ( 135,063) ( 26,013)
Other operating income 84 0
Operating (loss)/profit ( 122,562) 116,123
Other non-operating income 141,679 0
Profit before interest and taxation 19,117 116,123
Interest receivable and similar income 222 2,114
Interest payable and similar expenses ( 57,661) ( 55,186)
(Loss)/profit before taxation ( 38,322) 63,051
Tax on (loss)/profit 0 0
(Loss)/profit for the financial year ( 38,322) 63,051
RATHPLACE DEVELOPMENTS LIMITED

BALANCE SHEET

As at 30 September 2024
RATHPLACE DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 100 763,069
100 763,069
Current assets
Debtors 4 2,279,352 3,837,715
Cash at bank and in hand 60,248 113,182
2,339,600 3,950,897
Creditors: amounts falling due within one year 5 ( 23,301) ( 2,344,895)
Net current assets 2,316,299 1,606,002
Total assets less current liabilities 2,316,399 2,369,071
Net assets 2,316,399 2,369,071
Capital and reserves
Called-up share capital 3,501,000 3,501,000
Profit and loss account ( 1,184,601 ) ( 1,131,929 )
Total shareholders' funds 2,316,399 2,369,071

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Rathplace Developments Limited (registered number: 09666377) were approved and authorised for issue by the Board of Directors on 04 June 2025. They were signed on its behalf by:

P A Ephson
Director
RATHPLACE DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RATHPLACE DEVELOPMENTS 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

Rathplace Developments 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 22 Chancery Lane, London, WC2A 1LS, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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.

Going concern

The financial statements have been prepared on a going concern basis. The shareholder has confirmed they will support the company for at least 12 months from the date the accounts were approved.

Group accounts exemption

Group accounts exemption s399
As the company is subject to the small company regime, group accounts have not been prepared.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale of development properties and for the provision of consultancy services. Turnover from the sale of development properties is recognised when there has been an unconditional exchange of contracts. Turnover for the provision of consultancy services is recognised when the fees have been accrued in accordance with the terms of the relevant consultancy agreement.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Other operating income

Other operating income comprises rental income and other sundry income, net of VAT. Rental income is recognised on an accruals basis.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount on redemption being recognised as a charge to the profit and loss over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for impairment. Fixed asset investments consist of the investments in subsidiaries.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 763,069
Disposals ( 762,969)
At 30 September 2024 100
Carrying value at 30 September 2024 100
Carrying value at 30 September 2023 763,069

Rathplace Developments Limited owns 0% (2023 - 100%) of WK Holdings I Limited, a UK Limited Company.

Rathplace Developments Limited owns 100% (2023 - 100%) of 7LR Limited, a UK Limited Company. The registered address of 7LR Limited is 22 Chancery Lane, London, WC2A 1LS.

4. Debtors

2024 2023
£ £
Amounts owed by group undertakings (note 6) 2,103,097 3,564,494
Other debtors 176,255 273,221
2,279,352 3,837,715

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other loans 0 2,324,559
Other creditors 23,301 20,336
23,301 2,344,895

Other loans represent the amount due to the shareholders. During the year, the loans of £150,000 and £2,174,559 were repaid in full by the company. Interest accrued on the loan of £150,000 at 8%, and on £2,174,559 at 2.5%.

6. Related party transactions

Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions with other undertakings wholly owned within the group.