REGISTERED NUMBER: 03126270 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

R S PROPERTIES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Steele

Mrs V J Steele

Mr D R Steele

Mr D Steele

Mrs C J McCarthy

SECRETARY:

Mrs V J Steele

REGISTERED OFFICE:

91 Salthouse Road

Barrow in Furness

Cumbria

LA13 0TN

REGISTERED NUMBER:

03126270 (England and Wales)

BANKERS:

Santander UK plc

2 Triton Square

Regent's Place

London

NW1 3AN

FIXED ASSETS

Tangible assets

4

31,745

34,932

Investment property

5

1,887,682

1,887,682

1,919,427

1,922,614

CURRENT ASSETS

Debtors

5,503

5,316

Investments

100,000

100,000

Cash at bank and in hand

235,473

212,597

340,976

317,913

CREDITORS

Amounts falling due within one year

221,939

212,467

NET CURRENT ASSETS

119,037

105,446

TOTAL ASSETS LESS CURRENT LIABILITIES

2,038,464

2,028,060

PROVISIONS FOR LIABILITIES

7

8,412

9,257

NET ASSETS

2,030,052

2,018,803

CAPITAL AND RESERVES

Called up share capital

8

185,000

185,000

Revaluation reserve

891,053

891,053

Retained earnings

953,999

942,750

SHAREHOLDERS' FUNDS

2,030,052

2,018,803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

Mr R Steele - Director

Mrs V J Steele - Director

1.	STATUTORY INFORMATION

R S 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.

Turnover

Turnover represents rents received and the net invoiced sales of goods and services, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is transferred to the investment property revaluation reserve.

Rental income

Rents received are calculated on the accruals basis and represent net rental income, excluding VAT.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

318,019

Additions

23,750

Disposals

(19,800

)

At 31 December 2024

321,969

DEPRECIATION

At 1 January 2024

283,087

Charge for year

15,057

Eliminated on disposal

(7,920

)

At 31 December 2024

290,224

NET BOOK VALUE

At 31 December 2024

31,745

At 31 December 2023

34,932

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

1,887,682

NET BOOK VALUE

At 31 December 2024

1,887,682

At 31 December 2023

1,887,682

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Directors' current accounts

141,682

174,963

Mr and Mrs R Steele hold a legal charge over one of the company's investment properties securing all monies due.

7.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

8,412

9,257

Deferred

tax

£

Balance at 1 January 2024

9,257

Provided during year

(845

)

Balance at 31 December 2024

8,412

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

185,000

Ordinary

1

185,000

185,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the financial year the directors received £2,000 (2023: £2000) for the provision of the company's office accommodation.

Other than mentioned above the directors had no material interest during the financial year in any contract with the company.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R Steele.