ACCOUNTS - Final Accounts preparation

Company registration number: 10552267

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED

COMPANY INFORMATION

Director	R A Potyka


Registered number	10552267


Registered office	Clayfield House
	Whitepit Lane
	Wooburn Green
	High Wycombe
	HP10 0HR


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 4


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED REGISTERED NUMBER:10552267

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investment property	4		640,254		640,254
			640,254		640,254
Current assets
Stocks		893,019		1,259,722
Debtors: amounts falling due within one year	5	-		6,473
		893,019		1,266,195
Creditors: amounts falling due within one year	6	(1,549,720)		(1,998,384)
Net current liabilities			(656,701)		(732,189)
Total assets less current liabilities			(16,447)		(91,935)

Net liabilities			(16,447)		(91,935)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(16,547)	(92,035)
	(16,447)	(91,935)

The director considers 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 director acknowledges his 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 2 to 4 form part of these financial statements.

Page 1


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

RAP Building and Developments (Desborough) 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

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

Going concern

At the balance sheet 31 March 2025 the company shows a deficiency of total assets over total liabilities of £16,447 (2024: £91,935). Due to the ongoing support of the director, the company expects to meet its liabilities as they fall due, the company has prepared its financial statements on a going concern basis.

2.3

Revenue

Revenue is generated through the development and sale of properties as well as incidental rental income during the development process. Turnover is also generated by rental income derived from the investment property 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.

2.4

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.

Page 2


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Investment property

Investment property is carried at fair value determined annually by the director 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.7

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.

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

Page 3


RAP BUILDING AND DEVELOPMENTS (DESBOROUGH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2024	640,254
	At 31 March 2025	640,254

The 2025 valuations were made by the director, on an open market value for existing use basis.

Debtors

					2025	2024
					£	£


Deferred taxation	-	6,473
	-	6,473

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	1,238,402	1,685,552
Amounts owed to associated undertakings	220,000	220,000
Other creditors	2,913	1,863
Accruals and deferred income	88,405	90,969
	1,549,720	1,998,384

7.	Guarantees and other financial commitments

The company benefited from a loan facility obtained by its parent, RAP Building & Developments Ltd, from Secure Trust Bank PLC, which was used to finance the acquisition of the property held by the company.
The loan is secured by a legal charge over the development properties owned by the company included within stock. The company has not provided a guarantee for the loan but acknowledges the benefit received.

Page 4