DERIVE RP LIMITED

Company Registration Number:
13057310 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

DERIVE RP LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

DERIVE RP LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

15 months to 31 March 2023


£

£
Called up share capital not paid: 1 1
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 13,821,473 0
Investments:   0 0
Total fixed assets: 13,821,473 0
Current assets
Stocks: 0 0
Debtors:   261,355 0
Cash at bank and in hand: 26,831 0
Investments:   0 0
Total current assets: 288,186 0
Creditors: amounts falling due within one year: 4 (259,487) 0
Net current assets (liabilities): 28,699 0
Total assets less current liabilities: 13,850,173 1
Creditors: amounts falling due after more than one year: 5 (5,263,360) 0
Provision for liabilities: (8,220,867) 0
Total net assets (liabilities): 365,946 1
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 365,945 0
Shareholders funds: 365,946 1

The notes form part of these financial statements

DERIVE RP LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 September 2024
and signed on behalf of the board by:

Name: Robin Lawler
Status: Director

The notes form part of these financial statements

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 15 months to 31 March 2023
Average number of employees during the period 1 0

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 0
Additions 13,821,473
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2024 13,821,473
Depreciation
At 01 April 2023 0
Charge for year 0
On disposals 0
Other adjustments 0
At 31 March 2024 0
Net book value
At 31 March 2024 13,821,473
At 31 March 2023 0

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

5 Creditors: amounts falling due within one year 2024 £ Trade creditors 178,081 Corporation Tax 25,428 Other creditors 55,978 259,487 Within other creditors, £55,978 of loans are secured by fixed charges over the property and the interests of the company by way of legal mortgage with full title guarantee as a continuing security for the payment and discharge of the secured liabilities.

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due after more than one year note

Creditors: amounts falling due after more than one year 2024 £ Other creditors 5,263,360 The other creditors are long-term loans are secured by fixed charges over the property and the interests of the company by way of legal mortgage with full title guarantee as a continuing security for the payment and discharge of the secured liabilities. Creditors which fall due after five years are as follows: 2024 £ Payable by instalments 5,016,143

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Financial commitments

Capital Commitments Amounts contracted for but not provided in the financial statements: 2024 £ Acquisition of tangible fixed assets 3,349,162 This figure included schemes that are due to be handed over in financial year 24/25

DERIVE RP LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Related party transactions

Related Party Transactions Included in other creditors are balances totalling £5,284,735 owing to Salford City Council, the beneficial owners of the company by virtue of their interest in the entire issued share capital of the company. Within this balance, £21,375 relates to management recharges in the Profit and Loss Account. Included in deferred income is a balance of £8,220,867 which is grants received from Salford City Council in respect of the capital expenditure of the company. These grants have been awarded by Homes England and the Greater Manchester Combined Authority (GMCA) as per Note 7. Included in Government grants released in the Profit and Loss Account is £283,478, which has been released from the grant received from Salford City Council in respect of the capital expenditure of the company.