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Company registration number: 08460559
| UNAUDITED FINANCIAL STATEMENTS
| FOR THE YEAR ENDED 31 MARCH 2025
| RAP BUILDING AND DEVELOPMENTS LTD
RAP BUILDING AND DEVELOPMENTS LTD |  |
COMPANY INFORMATION
Directors | R A Potyka
| T R Potyka
Registered number | 08460559
Registered office | Clayfield House
| White Pit Lane
| Wooburn Green
| High Wycombe
| Buckinghamshire
| HP10 0HR
Accountants | Menzies LLP
| Chartered Accountants
| Magna House
| 18-32 London Road
| Staines-Upon-Thames
| TW18 4BP
RAP BUILDING AND DEVELOPMENTS LTD |  |
CONTENTS
| Page
Statement of financial position | 1 - 2
Notes to the financial statements | 3 - 7
RAP BUILDING AND DEVELOPMENTS LTD REGISTERED NUMBER:08460559 |  |
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 249,777 |  | 278,419
Investments | 5 |  | 200 |  | 200
|  |  | 249,977 |  | 278,619
Current assets |  |  |  |  |
Stocks |  | 3,743,525 |  | 3,629,702 |
Debtors: amounts falling due within one year | 6 | 5,437,263 |  | 5,292,892 |
Cash at bank and in hand |  | 59,462 |  | 21,749 |
|  | 9,240,250 |  | 8,944,343 |
Creditors: amounts falling due within one year | 7 | (2,797,391) |  | (2,163,203) |
Net current assets |  |  | 6,442,859 |  | 6,781,140
Total assets less current liabilities |  |  | 6,692,836 |  | 7,059,759
Creditors: amounts falling due after more than one year | 8 |  | (6,529,348) |  | (6,942,802)
Net assets |  |  | 163,488 |  | 116,957
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 163,388 |  | 116,857
|  |  | 163,488 |  | 116,957
Page 1
RAP BUILDING AND DEVELOPMENTS LTD REGISTERED NUMBER:08460559 |  |
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2025 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R A Potyka
Director
Date: 4 December 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
RAP BUILDING AND DEVELOPMENTS LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
RAP Building and Developments Ltd 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
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is generated by the sale of development properties and rental income and 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, excluding discounts, rebates, value added tax and other sales taxes.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds. Page 3
RAP BUILDING AND DEVELOPMENTS LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.
| 2.7 | 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 residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Land and buildings | - | 15 | years straight line
|  |  |  | Plant and machinery | - | 25% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
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 the proceeds with the carrying amount and are recognised in profit or loss.
| 2.8 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.9 | Work in progress
Work in progress is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress includes both properties and land held for development purposes. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Page 4
RAP BUILDING AND DEVELOPMENTS LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 9 (2024 - 9).
4. | Tangible fixed assets
|  | Land and buildings | Plant and machinery | Motor vehicles | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 April 2024 | 262,131 | 32,500 | 41,775 | 336,406
| At 31 March 2025 | 262,131 | 32,500 | 41,775 | 336,406
| Depreciation |  |  |  |
| At 1 April 2024 | 28,376 | 10,399 | 19,212 | 57,987
| Charge for the year on owned assets | 17,475 | 5,526 | 5,641 | 28,642
| At 31 March 2025 | 45,851 | 15,925 | 24,853 | 86,629
| Net book value |  |  |  |
| At 31 March 2025 | 216,280 | 16,575 | 16,922 | 249,777
| At 31 March 2024 | 233,755 | 22,101 | 22,563 | 278,419
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 April 2024 | 200
| At 31 March 2025 | 200
Page 5
RAP BUILDING AND DEVELOPMENTS LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 1,238,402 | 1,685,552
| Amounts owed by associated undertakings | 3,437,194 | 3,181,464
| Other debtors | 8,112 | 25,557
| Prepayments and accrued income | 753,555 | 400,319
|  | 5,437,263 | 5,292,892
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 37,189 | 61,991
| Amounts owed to group undertakings | 573,238 | 570,713
| Amounts owed to associated undertakings | 17,380 | 12,868
| Other taxation and social security | 20,598 | 9,563
| Other creditors | 2,118,603 | 1,475,284
| Accruals and deferred income | 30,383 | 32,784
|  | 2,797,391 | 2,163,203
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,150,812 | 3,624,682
| Other creditors | 3,378,536 | 3,318,120
|  | 6,529,348 | 6,942,802
| The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 600,000 | 600,000
|  | 600,000 | 600,000
Page 6
RAP BUILDING AND DEVELOPMENTS LTD |  |
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Guarantees and other financial commitments
The company has previously entered into loan agreements with Secure Trust Bank PLC. The loans were obtained to finance the acquisition of properties held by its wholly owned subsidiary, RAP Building and Developments (Desborough) Limited and RAP Bluebell Limited and its associated company, Clayfield Estates Limited. The loan is secured by legal charges over the properties held in the company and related companies. Stock amounts in the company which are secured on the loans are £1,388,213 (2024 - £1,388,213). The aggregate outstanding loan amounts at the end of the year is £3,150,812 (2024 – £3,624,682). Annual interest of 8.75% and 2.75% is charged in respect of the outstanding loan balances.
10. | Transactions with directors
| At the year end £1,524,530 (2024: £825,163) was due back to a director. This amount is interest-free and repayable on demand.
Page 7