Registration number: 12644007

RTP RE Chapter House Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 6

RTP RE Chapter House Limited

Company Information

Directors

S Lomovtseva M Krayukhina

Registered office

5th Floor 86 Jermyn Street London SW1Y 6AW

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

RTP RE Chapter House Limited

Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	5	22,500,000	27,000,000
Current assets
Debtors	6	617,543	951,986
Cash at bank and in hand		669,678	2,068,626
		1,287,221	3,020,612
Creditors: Amounts falling due within one year	7	(36,084,902)	(13,499,447)
Net current liabilities		(34,797,681)	(10,478,835)
Total assets less current liabilities		(12,297,681)	16,521,165
Creditors: Amounts falling due after more than one year	7	-	(23,289,500)
Net liabilities		(12,297,681)	(6,768,335)
Capital and reserves
Called up share capital		13,565,501	13,565,501
Retained earnings		(25,863,182)	(20,333,836)
Shareholders' deficit		(12,297,681)	(6,768,335)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of RTP RE Chapter House Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Approved and authorised by the Board on 22 September 2025 and signed on its behalf by:
 

.........................................

S Lomovtseva

Director

Company registration number: 12644007

RTP RE Chapter House Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5th Floor
86 Jermyn Street
London
SW1Y 6AW

The principal activity of the company is that of property investment.

2	Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 22 September 2025 was Martin Widdowson, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net liabilities at 31 December 2024 of £12,297,681 and net current liabilities of £34,797,681. At that date an amount of £35,763,507 was due to group undertakings who have confirmed they will not call for repayment until such a time as the company has sufficient working capital.

The directors have considered the potential effect of the ongoing economic uncertainty in the United Kingdom and the directors' view is that there will be no further significant effect and no further reductions in the fair value of the company's investment property is anticipated. The company continues to receive rental income from its investment property and the directors do not envisage any reasons why this should not continue.

On the basis of the above and after making enquiries, the directors' have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors will adopt the going concern basis in preparing the financial statements.

RTP RE Chapter House Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Revenue recognition

Turnover comprises the fair value of consideration received or receivable for rent receivable in the ordinary course of the company's activities. Turnover is shown net of future value added tax, rebates and discounts.

The company recognises rental income evenly over the period of the leases.

Tax

The tax expense for the period comprises 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 is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for rental income receivable in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

RTP RE Chapter House Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

5	Investment properties

	2024 £
Fair value
At 1 January 2024	27,000,000
Additions	257,477
Fair value adjustments	(4,757,477)
At 31 December 2024	22,500,000