Residential Properties Funds Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05130025 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

RESIDENTIAL PROPERTIES FUNDS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr. R M Pindoria

Mr R B Kerai

SECRETARY:

Mr R B Kerai

REGISTERED OFFICE:

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

05130025 (England and Wales)

ACCOUNTANTS:

Sterling Accounts Limited

t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Residential Properties Funds Limited for the year ended 31 March 2026 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Residential Properties Funds Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Residential Properties Funds Limited and state those matters that we have agreed to state to the Board of Directors of Residential Properties Funds Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Residential Properties Funds Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Residential Properties Funds Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Residential Properties Funds Limited. You consider that Residential Properties Funds Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Residential Properties Funds Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Sterling Accounts Limited

t/a Sterling

Chartered Accountants

505 Pinner Road

Harrow

Middlesex

HA2 6EH

2 May 2026

FIXED ASSETS

Investments

4

24,779

24,456

Investment property

5

7,667,047

7,618,000

7,691,826

7,642,456

CURRENT ASSETS

Debtors

6

496,784

500,624

Cash at bank

36,080

25,810

532,864

526,434

CREDITORS

Amounts falling due within one year

7

490,045

558,176

NET CURRENT ASSETS/(LIABILITIES)

42,819

(31,742

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,734,645

7,610,714

CREDITORS

Amounts falling due after more than one
year

8

(3,740,086

)

(3,740,086

)

PROVISIONS FOR LIABILITIES

(635,047

)

(635,047

)

NET ASSETS

3,359,512

3,235,581

CAPITAL AND RESERVES

Called up share capital

10,000

Revaluation reserve

2,527,874

Retained earnings

821,638

697,707

SHAREHOLDERS' FUNDS

3,359,512

3,235,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2026 and were signed on its behalf by:

Mr R B Kerai - Director

1.	STATUTORY INFORMATION

Residential Properties Funds 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Turnover

Turnover represents rental income receivable. Turnover is recognised when the company has a right to consideration.

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.

Subsequent to initial recognition:

investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in profit or loss in the period that they arise.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

Investments comprise investments in unquoted equity instruments which are measured at fair value. Changes in fair value are recognised in the Statement of Comprehensive Income.

Interest receivable and Interest payable

Interest receivable and interest payable are recognised in profit or loss as they accrue, using the effective interest method.

Deferred tax

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2026

2025

£

Cost/valuation b/f

24,456

23,853

Revaluations

323

603

24,779

24,456

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

7,618,000

Additions

49,047

At 31 March 2026

7,667,047

NET BOOK VALUE

At 31 March 2026

7,667,047

At 31 March 2025

7,618,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2015

370,000

Valuation in 2016

387,720

Valuation in 2017

84,410

Valuation in 2018

(520,000

)

Valuation in 2019

160,717

Valuation in 2021

500,037

Valuation in 2022

421,975

Valuation in 2025

371,140

Cost

5,891,048

7,667,047

In the opinion of the directors the fair value of the investment properties as at 31 March 2026 not significantly different to that stated above.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed by related parties

496,784

500,624

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Amounts owed to related parties

445,001

530,001

Tax

41,203

23,725

Accrued expenses

3,841

4,450

490,045

558,176

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Bank loans (see note 9)

2,739,087

Other loans (see note 9)

1,000,999

3,740,086

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,739,087

9.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

£

Amounts falling due between two and five years:

Other loans

1,000,999

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

2,739,087

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank loans

2,739,173

2,739,087

The bank loans are secured by a legal charge over the investment properties and by personal guarantee of the directors. The loans are interest only, fully repayable between 17 to 24 years period and the rates of interest charged are between 0.95% and 4.20% above the bank base rate.

11.	RELATED PARTY DISCLOSURES

The following amounts owed to/by companies in which Mr R B Kerai has a beneficial interest.

2026

2025

£

Regal Asset Managers Limited

20,560

24,400

Regal Asset Managers Limited (Thailand)

476,224

Kerai Property Investments Limited

(445,001

)

(530,001

)

Total

(51,783

)

(29,377

)

The amounts due to Kerai Property Investments Limited are unsecured and with no specific terms for repayment and the rate of interest charged is 5% per annum payable on a quarterly basis.