Retirement Security (Reading) Limited

	Page
Company Information	1
Directors' Report	2—3
Independent Auditor's Report	4—6
Income Statement	7
Statement of Financial Position	8
Notes to the Financial Statements	9—10

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Company No. 02324219

Directors' Report For The Year Ended 31 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2025.

Directors

The directors who held office during the year were as follows:

M Bessell
R Bessell	Resigned	20/10/2025
L Clement	Resigned	03/09/2024
N Chriscoli
M Hackett
M Prince	Appointed	10/03/2025
M Gowers	Resigned	25/05/2024
M Wakeford	Resigned	27/08/2024
M Manley	Appointed	05/11/2025

In accordance with the Articles of Association, Mrs M Bessell and Ms M Hackett will retire at the forthcoming Annual General Meeting, and being eligible, will stand for re-election.

The directors of the company are all also directors of the holding company. The interests of the directors in the share capital of the holding company are shown in the directors' report of that company.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Retirement Security (Reading) Limited

Directors' Report (continued)

For The Year Ended 31 March 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Small Company Rules

This report has 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.

On behalf of the board

M Hackett Director	M Prince Director
6 November 2025

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Independent Auditor's Report

to the Members of

Retirement Security (Reading) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Retirement Security (Reading) Limited for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and the provisions available for small entities, in the circumstances set out in note 9 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Independent Auditor's Report (continued)

to the Members of

Retirement Security (Reading) Limited

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Retirement Security (Reading) Limited

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

D C Cooper FCA (Senior Statutory Auditor)

for and on behalf of Cooper Adams Limited , Statutory Auditor

6 November 2025

Cooper Adams Limited

Chartered Accountants

12 Payton Street

Stratford upon Avon

Warwickshire

CV37 6UA

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Retirement Security (Reading) Limited

Income Statement

For The Year Ended 31 March 2025

Income Statement

		2025	2024
	Notes	£	£
TURNOVER		143,213	207,950
Cost of sales		(10,888 )	(6,700 )

GROSS PROFIT		132,325	201,250

Administrative expenses		(115,485 )	(83,693 )

OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR		16,840	117,557

The notes on pages 9 to 10 form part of these financial statements.

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Retirement Security (Reading) Limited

Statement of Financial Position

As At 31 March 2025

Statement of Financial Position

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	90,000		231,500

		90,000		231,500
Creditors: Amounts Falling Due Within One Year	5	(3,654,408 )		(3,812,748 )

NET CURRENT ASSETS (LIABILITIES)			(3,564,408 )		(3,581,248 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(3,564,408 )		(3,581,248 )

NET LIABILITIES			(3,564,408 )		(3,581,248 )

CAPITAL AND RESERVES
Called up share capital	7		100		100
Income Statement			(3,564,508 )		(3,581,348 )

SHAREHOLDERS' FUNDS			(3,564,408)		(3,581,248)

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

M Hackett Director	M Prince Director
6 November 2025

The notes on pages 9 to 10 form part of these financial statements.

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Retirement Security (Reading) Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Retirement Security (Reading) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02324219 . The registered office is Unit 3 Wellesbourne Distribution Park, Loxley Road, Wellesbourne, Warwick, CV35 9JY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The company is showing net liabilities at 31 March 2025. The directors have confirmed that financial support will continue to be forthcoming from the ultimate parent undertaking and that this will allow the company to continue its operations. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

2.2. Turnover

Turnover represents income from the sale of development properties and the income receivable in respect of

development consultancy fees, management fees and transfer premiums on resold properties.

2.3. Financial Instruments

Basic financial instruments

Financial assets

Basic financial assets, including cash and cash equivalents, trade and other receivables, and investments in fixed-term deposits, are initially recognised at transaction price and subsequently measured at amortised cost, less any impairment. Investments in publicly traded bonds and equities are measured at fair value, with changes in fair value recognised in the Income Statement.

Financial liabilities

Basic financial liabilities, including trade and other payables, loans and accruals, are initially recognised at transaction price and subsequently measured at amortised cost.

2.4. Taxation

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

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Retirement Security (Reading) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Debtors

	2025	2024
	£	£
Due after more than one year
Other debtors	90,000	231,500

Included in debtors falling due after more than one year is a balance of £90,000 (2024: £231,500) due to the company for properties sold at Margaret Court. This balance will be paid when the properties are resold or earlier if the debt is factored or repaid by the purchaser.

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Accruals and deferred income	6,004	8,806
Amounts owed to group undertakings	3,648,404	3,803,942

	3,654,408	3,812,748

6. Deferred taxation

The company has corporation tax losses carried forward at the balance sheet date amounting to £3,491,560 (2024: £3,508,400). No deferred tax asset has been recognised in respect of these losses.

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

Share capital consists of 100 (2024: 100) Ordinary shares of £1 each.

8. Related Party Transactions

During the year the company was charged £105,925 (2024: £60,950) by its ultimate parent undertaking, Retirement Security Limited, in respect of management fees.

9. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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