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Registered number: 08885706
RAINIER DEVELOPMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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RAINIER DEVELOPMENTS LIMITED
CONTENTS
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Notes to the Financial Statements
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RAINIER DEVELOPMENTS LIMITED
REGISTERED NUMBER: 08885706
BALANCE SHEET
AS AT 31 MARCH 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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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 on 8 December 2025.
The notes on pages 2 to 7 form part of these financial statements.
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Rainier Developments Limited (the Company) is a private company limited by shares incorporated and domiciled in England. The address of the registered office, which is also the principal place of business, is Rainier House, 62 High Street, Henley in Arden, Warwickshire, B95 5AN.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
The company is dependent upon the support of its immediate parent company, (see note 11). The directors have received assurance that the financial support will continue for a period of not less than twelve months from the date of the approval of these financial statements. Accordingy the directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.
The Company has five principal income streams and the accounting treatment of these is as follows:-
a) sales of land and property: are recognised on legal completion and included within turnover,
b) rental income: is recognised on a receivable basis and included within turnover,
c) land promotion agreements: turnover is recognised at the point at which the company becomes entitled to a share of the proceeds under the terms of the land promotion agreement,
d) dividends: are recognised when the company becomes entitled to receive them and included within income from fixed asset investments,
e) interest receivable and similar funding charges: where there is reasonable certainty that the income will be received, it is recognised using the effective interest rate method and is shown after the operating result.
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays a fixed contribution rate of salary 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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Tax is recognised in the Statement of Comprehensive Income, 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet 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.
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, using the straight-line method.
Depreciation is provided on the following basis:
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Short-term leasehold property
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straight line over the term of the lease
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Straight line over the term of the lease
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Straight line over five years
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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.
Property development projects include land and property held for development and re-sale are stated at the lower of cost and net realisable value. Cost includes the acquistion and related costs and any subsequent costs of development. Net realisable value is based on estimated selling price, less further costs of realisation.
Work in progress includes the costs incurred in land promotion agreements. This is when the company is contracted to progress third party held land through the planning process for ultimate disposal. The contracts are long term and the eventual outcomes are uncertain. The company performs regular reviews of each site to ensure that the anticipated net realisable value exceeds contracted costs or written down to reflect the change in circumstances.
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 12 (2024 - 12).
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Short-term leasehold property
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Charge for the year on owned assets
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Property development projects
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Work in progress - land promotion agreements
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Amounts owed by related undertaking
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Prepayments and accrued income
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Amounts recoverable on contracts
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Allotted, called up and fully paid
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10,000 (2024 - 10,000) Ordinary shares of £1.00 each
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Related party transactions
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Within creditors is an amount of £5,843,202 (2024: £5,145,887) due to Mr E W Grove, a director of the Company. Interest of £306,929 (2024: £294,147) was charged on this loan during the year. The loan was repaid in full on 10 October 2025.
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RAINIER DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Post balance sheet events
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On 10 October 2025 the company was sold, with the immediate parent undertaking becoming BPS4 Rainier Developments Holdco Limited, a company incorporated in Jersey. On the same date, the ultimate parent undertaking became BPS4 Executive LP, a company incorporated in Scotland.
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