Company registration number 05877457 (England and Wales)
REVOLUTION PROPERTY MANAGEMENT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
REVOLUTION PROPERTY MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
P L Aitchison
P Kavanagh
M B Cook
Secretary
P L Aitchison
Company number
05877457
Registered office
Crowthorne House
Nine Mile Ride
Wokingham
Berkshire
RG40 3GZ
REVOLUTION PROPERTY MANAGEMENT LIMITED
CONTENTS
Page
Directors' report
1 - 2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
6 - 10
REVOLUTION PROPERTY MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
The Directors present their annual report and financial statements for the year ended 31 December 2024 for Revolution Property Management Limited ("the Company").
Principal activities
The principal activity of the Company was the provision of residential block management services. On 31 July 2023, the Company transferred its trade and net assets to Hill & Clark Limited, a fellow group company, and from that date the Company ceased trading.
Results and dividends
The Company was dormant for the year ended 31 December 2024.
Directors
The Directors of the Company who held office during the year and up to the date of signing the financial statements, unless otherwise stated, were as follows:
P L Aitchison
P Kavanagh
M B Cook
Qualifying third party indemnity provisions
At 31 December 2024, third party indemnity provision for the benefit of the Company's directors was in force. The Company maintains liability insurance for its Directors and officers during the year under review and up to the date of signing the financial statements. This is a qualifying third-party indemnity provision for the purposes of the Companies Act 2006.
Statement of Directors' responsibilities in respect of the financial statements
The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have have prepared the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland Section 1A', and applicable law).
Under company law, Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the Directors are required to:
select suitable accounting policies for the Company's financial statements and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards, comprising FRS 102 Section 1A have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The Directors are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are also responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006.
REVOLUTION PROPERTY MANAGEMENT LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
P L Aitchison
Director
11 August 2025
REVOLUTION PROPERTY MANAGEMENT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2024
2023
Notes
£
£
Turnover
-
370,256
Cost of sales
(26,133)
Gross profit
-
344,123
Administrative expenses
(858,339)
Loss before taxation
(514,216)
Tax on loss
7,027
Loss for the financial year
(507,189)
All recognised gains and losses are included in the profit and loss account.
There are no items of other comprehensive income for either the year or the prior year other than the profit or loss for the year. Accordingly, no statement of other comprehensive income has been presented.
The profit and loss account has been prepared on the basis that all operations are continuing operations.
REVOLUTION PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
5
574,151
574,151
Current assets
-
-
Creditors: amounts falling due within one year
7
(74,535)
(74,535)
Net current liabilities
(74,535)
(74,535)
Net assets
499,616
499,616
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
499,615
499,615
Total equity
499,616
499,616
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on
11 August 2025
11 August 2025
and are signed on its behalf by:
P L Aitchison
Director
Company registration number 05877457 (England and Wales)
REVOLUTION PROPERTY MANAGEMENT LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2023
1
(994,797)
(994,796)
Year ended 31 December 2023:
Loss and total comprehensive income
-
(507,189)
(507,189)
Capital contribution
-
2,001,601
2,001,601
Balance at 31 December 2023
1
499,615
499,616
Year ended 31 December 2024:
Profit and total comprehensive income
-
Balance at 31 December 2024
1
499,615
499,616
REVOLUTION PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
1
Accounting policies
Company information
Revolution Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Crowthorne House, Nine Mile Ride, Wokingham, Berkshire, RG40 3GZ.
1.1
Basis of preparation
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Following the transfer of the trade and net assets to a fellow group company, Hill & Clark Limited, on 31 July 2023 the company Ceased trading. The Company is no longer considered to be a going concern and the financial statements have therefore been prepared on a basis other than going concern.
1.3
Turnover
Turnover comprises amounts recognised in respect of goods and services, supplied during the period and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured, based on when performance obligations have been satisfied.
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
REVOLUTION PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 7 -
1.7
Financial instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity, respectively.
Current tax
Current taxation is based on the taxable income at the statutory tax rate enacted or substantively enacted at the balance sheet date and includes adjustments to tax payable or recoverable in respect of previous periods.
REVOLUTION PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised, and determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax liabilities are provided in full and are not discounted.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.
1.11
Retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
1.12
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Significant management judgements and estimation in applying accounting policies
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgements that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the reporting date and the reported amounts of turnover and expenses during the reporting period.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Assumptions and accounting estimates are subject to regular review. Any revisions required to accounting estimates are recognised in the period in which the revisions are made including all future periods affected.
The Directors believe that there are no such judgements or estimates that have a significant effect on the recognition and measurement of assets, liabilities, income and expenses disclosed in the financial statements.
REVOLUTION PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
4
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
16,133
Company pension contributions to defined contribution schemes
-
308
16,441
5
Investments
2024
2023
£
£
Shares in group undertakings and participating interests
574,151
574,151
6
Subsidiaries
Details of the company's subsidiaries at 31 December 2024 are as follows:
Name of undertaking
Nature of
Class of
% Held
business
shares held
Direct
-
Rebloom Limited
Dormant
Ordinary
100.00
-
GCS Estate Management Limited
Dormant
Ordinary
100.00
The subsidiary undertakings' registered office is Crowthorne House, Nine Mile Ride, Wokingham, Berkshire, RG40 3GZ.
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
74,535
74,535
Intercompany balances are interest free, have no fixed payment terms, and are repayable on demand.
During the year ended 2023 an intercompany creditor of £2,001,601 was waived. The Company treated this as a capital contribution from its parent and recognised £2,001,601 directly in equity within the profit and loss account reserve.
REVOLUTION PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 10 -
8
Related party transactions
The Company is a wholly owned subsidiary within the group headed by Hadrian Holding Limited and has taken advantage of the exemption conferred by FRS 102 'Related Party Disclosures' not to disclose related party transactions with Hadrian Holding Limited or other wholly owned subsidiaries within the group.
9
Controlling party
The Company is a subsidiary of The Leaders Romans Bidco Limited, which is registered at Crowthorne House, Nine Mile Ride, Wokingham, Berkshire, RG40 3GZ. At 31 December 2024, the Company's ultimate parent company was Hadrian Holding Limited, which is registered at 280 Bishopsgate, London, EC2M 4AG.
Hadrian Holding Limited is the smallest and largest group in which the results of the Company are consolidated. The consolidated financial statements, which include the results of this Company, are available to the public and may be obtained from Companies House.
At 31 December 2024, the ultimate controlling party of Revolution Property Management Limited is Platinum Equity Small Cap Fund International (Cayman), L.P.
2024-12-312024-01-01trueCCH SoftwareCCH Accounts Production 2024.210P KavanaghM B CookM B CookP L Aitchisonfalsefalse058774572024-01-012024-12-3105877457bus:CompanySecretaryDirector12024-01-012024-12-3105877457bus:Director12024-01-012024-12-3105877457bus:Director22024-01-012024-12-3105877457bus:CompanySecretary12024-01-012024-12-3105877457bus:Director32024-01-012024-12-3105877457bus:RegisteredOffice2024-01-012024-12-31058774572024-12-31058774572023-01-012023-12-3105877457core:RetainedEarningsAccumulatedLosses2023-01-012023-12-3105877457core:RetainedEarningsAccumulatedLosses2024-01-012024-12-31058774572023-12-3105877457core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3105877457core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3105877457core:ShareCapital2024-12-3105877457core:ShareCapital2023-12-3105877457core:RetainedEarningsAccumulatedLosses2024-12-3105877457core:RetainedEarningsAccumulatedLosses2023-12-3105877457core:ShareCapital2022-12-3105877457core:RetainedEarningsAccumulatedLosses2022-12-3105877457core:CurrentFinancialInstruments2024-12-3105877457core:CurrentFinancialInstruments2023-12-3105877457bus:EntityNoLongerTradingButTradedInPast2024-01-012024-12-3105877457bus:PrivateLimitedCompanyLtd2024-01-012024-12-3105877457bus:FRS1022024-01-012024-12-3105877457bus:AuditExempt-NoAccountantsReport2024-01-012024-12-3105877457bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP