REGISTERED NUMBER: 08125927 (England and Wales)

R S Properties London Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Cagin

Mr C Agcagul

REGISTERED OFFICE:

Unit 1

The Britannia Centre

Lenthall Road

Loughton

IG10 3SQ

REGISTERED NUMBER:

08125927 (England and Wales)

SENIOR STATUTORY AUDITOR:

Altan Kemal FCA FCCA

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Investment property

4

31,650,000

31,519,738

CURRENT ASSETS

Debtors

5

80,431

519,506

Cash at bank

152,301

155,017

232,732

674,523

CREDITORS

Amounts falling due within one year

6

1,226,740

8,843,255

NET CURRENT LIABILITIES

(994,008

)

(8,168,732

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,655,992

23,351,006

CREDITORS

Amounts falling due after more than one year

7

(9,673,768

)

(10,665,964

)

PROVISIONS FOR LIABILITIES

9

(2,556,954

)

(2,514,187

)

NET ASSETS

18,425,270

10,170,855

CAPITAL AND RESERVES

Called up share capital

10

1

1

Fair value reserve

11

8,144,235

8,056,740

Retained earnings

11

10,281,034

2,114,114

SHAREHOLDERS' FUNDS

18,425,270

10,170,855

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

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 December 2025 and were signed on its behalf by:

Mr S Cagin - Director

Mr C Agcagul - Director

1.	STATUTORY INFORMATION

R S Properties London 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

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Masca Holdings Limited is the parent company of the group and copies of the consolidated accounts can be obtained from Unit 2, The Britannia Centre, Lenthall Road, Loughton, IG10 3SQ.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. In determining the carrying amounts of certain assets and liabilities, the company makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The Group’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. Further information about key assumptions concerning the future, and other key sources of estimation uncertainty, are set out in the notes.

Fair value measurements are estimates of the amounts for which assets or liabilities could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking highest and best use into account. Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs

Turnover

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

Rental income is recognised when the company obtains the right to the consideration at the end of the period relating to the rent. It is derived from the ordinary activities of the company.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

31,519,738

Revaluations

130,262

At 31 March 2025

31,650,000

NET BOOK VALUE

At 31 March 2025

31,650,000

At 31 March 2024

31,519,738

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

4,299,885

Valuation in 2024

6,271,043

Valuation in 2025

130,262

Cost

20,948,810

31,650,000

If investment property had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

20,948,910

20,948,910

Investment properties were valued on fair value basis on 30 September 2025 by CBRE, Colliers & Capital Value Surveyors .

The value of investment properties have been assessed by the directors at 31 March 2025 and in their opinion the current values in the balance sheet are the appropriate values.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

38,000

489,450

Amounts owed by group undertakings

-

10,000

Other debtors

42,431

20,056

80,431

519,506

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

992,196

992,196

Trade creditors

146,850

180,326

Amounts owed to group undertakings

-

7,518,160

Taxation and social security

77,194

87,103

Other creditors

10,500

65,470

1,226,740

8,843,255

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

9,673,768

10,665,964

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,704,984

6,697,180

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

10,665,964

11,658,160

Bank Loans are secured by way of a fixed charges over unit 16 - 20 Lumina Way, Enfield, EN1 1FS, and The Britannia Centre, Lenthall Road, Loughton, IG10 3SQ and a floating charge over all the other assets of the company.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Other timing differences

2,556,954

2,514,187

Deferred

tax

£

Balance at 1 April 2024

2,514,187

DT on fair value adjusrtment

42,767

Balance at 31 March 2025

2,556,954

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

2,114,114

8,056,740

10,170,854

Profit for the year

8,254,415

8,254,415

Fair value adjustments

(87,495

)

87,495

-

At 31 March 2025

10,281,034

8,144,235

18,425,269

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

13.	CONTINGENT LIABILITIES

All companies in the group have provided a cross guarantee to The Care Home Lender for a loan taken out in August 2025 to replace the loan existing at the year end. The balance at the year end was £10,665,964 (2024 - £11,658,160).

14.	PARENT COMPANY

The controlling party is Masca Holding Ltd the parent company.