RSEE Property Ltd 10625635 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is that of property investment Digita Accounts Production Advanced 6.30.9574.0 true 10625635 2024-03-01 2025-02-28 10625635 2025-02-28 10625635 core:RevaluationInvestmentPropertyDeferredTax 2025-02-28 10625635 core:CurrentFinancialInstruments 2025-02-28 10625635 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 10625635 core:Non-currentFinancialInstruments 2025-02-28 10625635 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 10625635 core:FurnitureFittingsToolsEquipment 2025-02-28 10625635 bus:SmallEntities 2024-03-01 2025-02-28 10625635 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 10625635 bus:FilletedAccounts 2024-03-01 2025-02-28 10625635 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 10625635 bus:RegisteredOffice 2024-03-01 2025-02-28 10625635 bus:Director1 2024-03-01 2025-02-28 10625635 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 10625635 core:FurnitureFittings 2024-03-01 2025-02-28 10625635 countries:EnglandWales 2024-03-01 2025-02-28 10625635 2024-02-29 10625635 core:FurnitureFittingsToolsEquipment 2024-02-29 10625635 2023-03-01 2024-02-29 10625635 2024-02-29 10625635 core:RevaluationInvestmentPropertyDeferredTax 2024-02-29 10625635 core:CurrentFinancialInstruments 2024-02-29 10625635 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 10625635 core:Non-currentFinancialInstruments 2024-02-29 10625635 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 10625635 core:FurnitureFittingsToolsEquipment 2024-02-29 iso4217:GBP xbrli:pure

Registration number: 10625635

Prepared for the registrar
RSEE Property Ltd
Annual Report and Unaudited Financial Statements
for the Year Ended 28 February 2025

RSEE Property Ltd

(Registration number: 10625635)
Balance Sheet as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 6 | 300,000 | 300,000
Current assets |  |  |
Cash at bank and in hand |  | 5,336 | 11,495
Creditors: Amounts falling due within one year | 7 | (156,368) | (153,670)
Net current liabilities |  | (151,032) | (142,175)
Total assets less current liabilities |  | 148,968 | 157,825
Creditors: Amounts falling due after more than one year | 7 | (111,763) | (119,771)
Deferred tax liabilities | 4 | (9,247) | (9,247)
Net assets |  | 27,958 | 28,807
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Retained earnings |  | 27,908 | 28,757
Shareholders' funds |  | 27,958 | 28,807

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 October 2025 and signed on its behalf by:

R A Banbury Director |  |

RSEE Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

| 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:
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
United Kingdom

| 2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Revenue recognition

Turnover comprises the fair value received for gross rental income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

RSEE Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures & fittings | 20% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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.

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 profit and loss account 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.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

RSEE Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

| 4 | Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Revaluation of investment property | 9,247
| 9,247

2024 | Liability £
Revaluation of investment property | 9,247
| 9,247

| 5 | Tangible assets

| Furniture, fittings and equipment £
Cost
At 1 March 2024 and 28 February 2025 | 16,103
Depreciation
At 1 March 2024 and 28 February 2025 | 16,103
Carrying amount
At 1 March 2024 and 28 February 2025 | -

| 6 | Investment properties

| 2025 £
At 1 March 2024 and 28 February 2025 | 300,000

The carrying value of the investment property is based on the market value as estimated by the directors' property agent. The carrying amount at historical cost is £255,849 (2024 - £255,849).

| 7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 132,749 | 132,510
Taxation and social security |  | - | 880
Accruals and deferred income |  | 2,390 | 2,280
Other creditors |  | 21,229 | 18,000
|  | 156,368 | 153,670

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | 111,763 | 119,771

RSEE Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

| 8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings (secured) | 8,022 | 7,783
Directors loan account | 124,727 | 124,727
| 132,749 | 132,510

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings (secured) | 111,763 | 119,771

Included in the loans and borrowings are the following amounts due after more than five years:

| 2025 £ | 2024 £
Non-current loans and borrowings
Bank borrowings (secured) | 79,673 | 88,640

| 9 | Related party transactions

At 28 February 2025, the directors were owed £124,727 (2024: £124,727) in the form of a directors loan account. The loan is unsecured, repayable on demand and no interest is payable.
At 28 February 2025, the company owed £21,229 (2024: £18,000) to RB O&G Services Ltd, a company related by virtue of the director R Banbury. The loan is unsecured, repayable on demand and no interest is payable.