Company registration number 10672507 (England and Wales)
RBH NO2 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
RBH NO2 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RBH NO2 LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
-
0
1,350,000
Current assets
Stocks
7,830,887
8,339,717
Debtors
5
617,561
459,317
Cash at bank and in hand
183
1,386
8,448,631
8,800,420
Creditors: amounts falling due within one year
6
(9,431,727)
(11,371,766)
Net current liabilities
(983,096)
(2,571,346)
Total assets less current liabilities
(983,096)
(1,221,346)
Creditors: amounts falling due after more than one year
7
(4,167)
(14,167)
Net liabilities
(987,263)
(1,235,513)
Capital and reserves
Called up share capital
6
6
Profit and loss reserves
(987,269)
(1,235,519)
Total equity
(987,263)
(1,235,513)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 September 2025
Mr S Brock
Director
Company Registration No. 10672507
RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

RBH No2 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is First Floor, Unit 1B St. Georges Business Centre, St. Georges Square, Portsmouth, Hampshire, United Kingdom, PO1 3EY.

1.1
Accounting convention

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 a mounts 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.

The financial statements relate to RBH No2 Ltd as an individual entity.

1.2
Going concern

These financial statements are prepared on a going concern basis.true

The director has considered the ability of the company to continue as a going concern. Whilst the company has net liabilities of £987,263 at the balance sheet date, in the opinion of the director the company will be able to operate for the foreseeable future with the continued support of Marco Island Developments Ltd, a company under common control. The director therefore considers that it is appropriate to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover comprises the sale of properties in the ordinary course of business.

Other operating income comprises rents received or receivable on properties held for sale.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Investment property transferred from stock is transferred at the market value at the date of transfer, with profit or loss recognised in the profit or loss account.

Subsequently investment property is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Stocks

Stocks include the cost of properties held for resale plus any associated costs to sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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, bank loans, loans from connected 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 paymen ts 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.

1.7
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.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease, including lease incentives, are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Investment property
2024
£
Fair value
At 1 January 2024
1,350,000
Disposals
(1,350,000)
At 31 December 2024
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
207,990
10,963
Other debtors
200
955
Prepayments and accrued income
44,621
62,649
252,811
74,567
2024
2023
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
364,750
384,750
Total debtors
617,561
459,317
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,565,750
6,565,750
Trade creditors
29,629
22,507
Amounts owed to connected companies
2,778,475
4,583,914
Taxation and social security
48,403
44,832
Accruals and deferred income
9,470
154,763
9,431,727
11,371,766
RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
4,167
14,167

Within short and long term borrowings is £14,167 (2023: £24,167), which is secured by way of a government guarantee.

The remaining short and long term bank borrowings are secured by way of a fixed and floating charge, held by Investec PLC, over all assets held within the company including the rental income receivable from the property held at 10-12 East Parade, Leeds. The full loan balance has been guaranteed personally by the shareholders.

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