Company No: 03477093 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	10,493		13,451
Investment property	4	852,492		852,492
		862,985		865,943
Current assets
Debtors	5	1,358		0
Cash at bank and in hand		2,498		51,743
		3,856		51,743
Creditors: amounts falling due within one year	6	( 190,891)		( 246,690)
Net current liabilities		(187,035)		(194,947)
Total assets less current liabilities		675,950		670,996
Creditors: amounts falling due after more than one year	7	( 919,749)		( 919,749)
Net liabilities		( 243,799)		( 248,753)
Capital and reserves
Called-up share capital	8	50,000		50,000
Profit and loss account		( 293,799 )		( 298,753 )
Total shareholder's deficit		( 243,799)		( 248,753)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Richmond Skelly Properties Limited (registered number: 03477093) were approved and authorised for issue by the Director on 16 December 2025. They were signed on its behalf by:

S R Sunderland Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Richmond Skelly Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 39 Royal Crescent, London, W11 4SN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities. The Company is supported through loans from a related family trust. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the trust will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial
statements.

Turnover

Rental income is recognised on a straight line basis over the term of the lease.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Computer equipment	3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

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 the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and with the bank.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related parties, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		2

3. Tangible assets

	Vehicles		Computer equipment		Total
	£		£		£
Cost
At 01 April 2024	35,779		1,547		37,326
Additions	0		969		969
At 31 March 2025	35,779		2,516		38,295
Accumulated depreciation
At 01 April 2024	22,886		989		23,875
Charge for the financial year	3,223		704		3,927
At 31 March 2025	26,109		1,693		27,802
Net book value
At 31 March 2025	9,670		823		10,493
At 31 March 2024	12,893		558		13,451

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	852,492
As at 31 March 2025	852,492

Investment property comprises one residential property and a separate office, both in London. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the external parties. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5. Debtors

	2025		2024
	£		£
Other debtors	1,358		0

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	2,892		20,758
Other creditors	187,999		225,932
	190,891		246,690

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	919,749		919,749

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50,000 Ordinary shares of £ 1.00 each	50,000		50,000