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REGISTERED NUMBER: 04427241 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

RJW PROPERTY MANAGEMENT LIMITED

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| RJW PROPERTY MANAGEMENT LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2024

| DIRECTOR: | R J Wilcox

| SECRETARY: | Mrs S A Wilcox

| REGISTERED OFFICE: | 7 Pinfold Lane

| Ruskington

| Sleaford

| Lincolnshire

| NG34 9EU

| REGISTERED NUMBER: | 04427241 (England and Wales)

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

BALANCE SHEET

31 OCTOBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | - |  | - |  |

Investment property | 6 | 7,312,083 |  | 7,420,916 |  |

7,312,083 |  | 7,420,916 |  |

CURRENT ASSETS

Debtors | 7 | 3,898,993 |  | 4,136,457 |  |

Cash at bank | 179,276 |  | 13,634 |  |

4,078,269 |  | 4,150,091 |  |

CREDITORS

Amounts falling due within one year | 8 | 571,872 |  | 710,580 |  |

NET CURRENT ASSETS | 3,506,397 |  | 3,439,511 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 10,818,480 |  | 10,860,427 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (2,728,056 | ) | (2,841,342 | ) |

PROVISIONS FOR LIABILITIES | 11 | (360,075 | ) | (360,075 | ) |

NET ASSETS | 7,730,349 |  | 7,659,010 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Share premium | 12 | 134,046 |  | 134,046 |  |

Fair value reserve | 12 | 1,998,853 |  | 1,998,853 |  |

Retained earnings | 12 | 5,596,450 |  | 5,525,111 |  |

SHAREHOLDERS' FUNDS | 7,730,349 |  | 7,659,010 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

BALANCE SHEET - continued

31 OCTOBER 2024

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 director and authorised for issue on 15 August 2025 and were signed by:

R J Wilcox - Director

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

1. | STATUTORY INFORMATION

| RJW Property Management 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.

2. | 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

| SIGNIFICANT JUDGEMENTS AND ESTIMATES

| No significant judgements have had to be made by the director in preparing these financial statements.

| The director has made key assumptions in the determination of fair value of investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the assets

| REVENUE

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable in respect of sales of land and property and rental income, excluding discounts, rebates, value added tax and other sales taxes.

| The following criteria must also be met before turnover is recognised:

| Sale of goods

| Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

| - the Company has transferred the significant risks and rewards of ownership to the buyer;

| - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of turnover can be measured reliably;

| - it is probable that the Company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Rental income

| Revenue in the form of rental income comprises the value of rental income receivable from the letting of investment property owned by the Company.

| Rental income is recognised on a time basis and is measured over the duration of each respective tenancy agreement.

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

3. | ACCOUNTING POLICIES - continued

| TANGIBLE FIXED ASSETS

| Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their estimated residual value over their estimated useful lives, using the straight-line method.

| Depreciation is provided on the following bases:

| Plant and machinery - 25%

| Motor vehicles - 25%

| The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing thee proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

| INVESTMENT PROPERTY

| Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The company engage an independent valuer to assist the directors in determining fair value.

| Investment property whose fair value can be measured reliably are recorded at fair value with any surplus or deficit on revaluation being recognised in the income statement accumulated in a non-distributable reserve.

| No depreciation is charged on investment property.

| 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.

| FOREIGN CURRENCIES

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| HIRE PURCHASE AND LEASING COMMITMENTS

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 1 (2023 - 1 ) .

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 November 2023

| and 31 October 2024 | 4,301 |  |

| DEPRECIATION

| At 1 November 2023

| and 31 October 2024 | 4,301 |  |

| NET BOOK VALUE

| At 31 October 2024 | - |  |

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2023 | 7,420,916 |  |

| Additions | 216,167 |  |

| Disposals | (325,000 | ) |

| At 31 October 2024 | 7,312,083 |  |

| NET BOOK VALUE

| At 31 October 2024 | 7,312,083 |  |

| At 31 October 2023 | 7,420,916 |  |

| Investment property was valued on an open market value basis on 31 October 2024 by the directors.

| If investment property had not been revalued, it would have been included at a historical cost of £4,912,181 (2023 - £5,084,041).

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Other debtors | 3,898,993 |  | 4,136,457 |  |

| Other debtors include an amount loaned to JCO Developments Limited of £3,895,434 (2023 - £4,096,601).

RJW PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 04427241) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2024

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 113,055 |  | 113,055 |  |

| Trade creditors | 291 |  | 308 |  |

| Taxation and social security | 16,017 |  | 27,550 |  |

| Other creditors | 442,509 |  | 569,667 |  |

571,872 |  | 710,580 |  |

| Included in other creditors is an amount payable to the director, Mr R J Wilcox amounting to £282,308 (2023 - £409,465).

9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 2,728,056 |  | 2,841,342 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Bank loans | 2,841,111 |  | 2,954,397 |  |

| The bank loan is secured with charges against the investment property portfolio and a debenture.

11. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

£ | £ |

| Deferred tax | 360,075 |  | 360,075 |  |

| Deferred |

| tax |

£ |

| Balance at 1 November 2023 | 360,075 |  |

| Balance at 31 October 2024 | 360,075 |  |

12. | RESERVES

| Fair |

| Retained |  | Share |  | value |

| earnings |  | premium |  | reserve |  | Totals

£ | £ | £ | £ |

| At 1 November 2023 | 5,525,111 |  | 134,046 |  | 1,998,853 |  | 7,658,010 |  |

| Profit for the year | 71,339 |  | 71,339 |  |

| At 31 October 2024 | 5,596,450 |  | 134,046 |  | 1,998,853 |  | 7,729,349 |  |