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REGISTERED NUMBER: 09959030 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

RARE PROPERTIES LIMITED

RARE PROPERTIES LIMITED (REGISTERED NUMBER: 09959030)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RARE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: R Record
A East





REGISTERED OFFICE: 3rd Floor 21 Perrymount Road
Haywards Heath
West Sussex
RH16 3TP





REGISTERED NUMBER: 09959030 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

RARE PROPERTIES LIMITED (REGISTERED NUMBER: 09959030)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,415 81,415
Investment property 5 11,843,103 9,628,000
11,906,518 9,709,415

CURRENT ASSETS
Debtors 6 108,431 75,321
Cash at bank 202,124 167,897
310,555 243,218
CREDITORS
Amounts falling due within one year 7 1,046,462 1,082,210
NET CURRENT LIABILITIES (735,907 ) (838,992 )
TOTAL ASSETS LESS CURRENT LIABILITIES 11,170,611 8,870,423

CREDITORS
Amounts falling due after more than one year 8 (7,085,294 ) (6,809,843 )

PROVISIONS FOR LIABILITIES 10 (683,862 ) (236,553 )
NET ASSETS 3,401,455 1,824,027

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 2,331,785 1,155,398
Retained earnings 1,069,570 668,529
SHAREHOLDERS' FUNDS 3,401,455 1,824,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

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 18 July 2025 and were signed on its behalf by:





R Record - Director


RARE PROPERTIES LIMITED (REGISTERED NUMBER: 09959030)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

RARE 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Plant and machinery etc - 25% on cost

Investment property
Investment property, which is property held to earn rentals and/or capital appreciation, is initially recognised at cost, which includes purchase cost and directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss and then transferred to a revaluation reserve

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

RARE PROPERTIES LIMITED (REGISTERED NUMBER: 09959030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2024 180,093
Additions 29,648
Disposals (19,050 )
At 31 January 2025 190,691
DEPRECIATION
At 1 February 2024 98,678
Charge for year 47,648
Eliminated on disposal (19,050 )
At 31 January 2025 127,276
NET BOOK VALUE
At 31 January 2025 63,415
At 31 January 2024 81,415

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024 9,628,000
Additions 484,635
Revaluations 1,730,468
At 31 January 2025 11,843,103
NET BOOK VALUE
At 31 January 2025 11,843,103
At 31 January 2024 9,628,000

Fair value at 31 January 2025 is represented by:
£   
Valuation in 2017 (20,890 )
Valuation in 2018 48,115
Valuation in 2019 (21,806 )
Valuation in 2020 683,828
Valuation in 2021 46,300
Valuation in 2022 479,593
Valuation in 2023 435,164
Valuation in 2024 (121,479 )
Valuation in 2025 1,730,468
Cost 8,583,810
11,843,103

If investment property had not been revalued 2025 would have been included at the following historical cost:

2025 2024
£    £   
Cost 8,583,810 8,099,174

Investment property were valued on an open market basis on 31 January 2025 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 108,431 75,321

RARE PROPERTIES LIMITED (REGISTERED NUMBER: 09959030)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 8,300 8,300
Taxation and social security 400 400
Other creditors 1,037,762 1,073,510
1,046,462 1,082,210

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans 3,458 11,758
Mortgage loans 7,081,836 6,798,085
7,085,294 6,809,843

9. SECURED DEBTS

Bank borrowings of £7,081,836 are secured against the investment properties of the company.

10. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 683,862 236,553

Deferred
tax
£   
Balance at 1 February 2024 236,553
Movement in Year 447,309
Balance at 31 January 2025 683,862

11. ULTIMATE CONTROLLING PARTY

The controlling party is R Record.

During the year the company was under the control of R Record, a director and shareholder of the company.

12. RELATED PARTY DISCLOSURES

As at the balance sheet date RARE Properties Limited owed Toplets Property Services Limited (a company which Mr R Record controls) £484,319 (2024: £504,319).

As at the balance sheet date RARE Properties Limited also owed Andrew East Limited (a company which Mr A East controls) £175,819 (2024: £175,819).

Mr A East, a company director was owed £182,750 (2024: £182,750) by RARE Properties Limited as at the balance sheet date.

Mr J Harris, a company shareholder was owed £147,750 (2024: £142,750) by RARE Properties Limited as at the balance sheet date.