REGISTERED NUMBER: 00383326 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

RODELL PROPERTIES LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S C Hill

S Gosling

S F Carter

J G Reed

S Wheeler

SECRETARY:

S T Howard

REGISTERED OFFICE:

Unit 6 The Foundry

17 Oval Way

London

SE11 5RR

REGISTERED NUMBER:

00383326 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property investments.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

S Gosling

S F Carter

J G Reed

Other changes in directors holding office are as follows:

D W Sutton - resigned 25 July 2024

V Seddon - resigned 25 July 2024

S C Hill - appointed 1 March 2025

S Wheeler - appointed 12 September 2024

A S Manning ceased to be a director after 31 March 2025 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Gosling - Director

17 December 2025

FIXED ASSETS

Property, plant and equipment

4

-

-

Investment property

5

3,500,000

7,162,252

3,500,000

7,162,252

CURRENT ASSETS

Debtors

6

180,954

61,748

Cash at bank and in hand

115,683

114,600

296,637

176,348

CREDITORS

Amounts falling due within one year

7

(404,302

)

(433,436

)

NET CURRENT LIABILITIES

(107,665

)

(257,088

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,392,335

6,905,164

CREDITORS

Amounts falling due after more than one year

8

(358,105

)

(2,829,715

)

PROVISIONS FOR LIABILITIES

-

(865,390

)

NET ASSETS

3,034,230

3,210,059

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

(2,889,914

)

(1,360,683

)

Retained earnings

10

5,924,044

4,570,642

SHAREHOLDERS' FUNDS

3,034,230

3,210,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by:

S Gosling - Director

1.	STATUTORY INFORMATION

Rodell Properties 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments 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.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 7 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

1,977

DEPRECIATION

At 1 April 2024

and 31 March 2025

1,977

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

7,162,252

Additions

1,376,750

Disposals

(3,750,000

)

Revaluations

(1,289,002

)

At 31 March 2025

3,500,000

NET BOOK VALUE

At 31 March 2025

3,500,000

At 31 March 2024

7,162,252

The directors believe that the carrying value of the investment properties represents the fair value of the properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

342

1,171

Other debtors

-

813

VAT

6,270

53,193

Deferred tax asset

166,015

-

Prepayments and accrued income

8,327

6,571

180,954

61,748

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

3,082

129,249

Amounts owed to group undertakings

-

132,000

Tax

396,603

-

Other creditors

-

169,437

Accruals and deferred income

4,617

2,750

404,302

433,436

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

358,105

2,829,715

The long term loans are secured by fixed charges over the freehold properties known as 6-9 Cynthia Street, London N1 9JF and 37 Grays Inn Road, London WC1X 8PQ.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Within capital and reserves, there is an amount of £799,380 in relation to the fair value surplus on the company's investment properties net of deferred tax provision. This amount does not form part of the company's distributable reserves.

11.	ULTIMATE CONTROLLING PARTY

The parent company is Unlock Democracy, company limited by guarantee and incorporated in England and Wales.