ACCOUNTS - Final Accounts

Registered number: 09694950

R W PROPERTY PROGRESS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

R W PROPERTY PROGRESS LIMITED

REGISTERED NUMBER: 09694950

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		690		862
Investment property	5		123,623		123,623
			124,313		124,485
Current assets
Debtors: amounts falling due within one year	6	379		379
Cash at bank and in hand		19,988		9,963
		20,367		10,342
Creditors: amounts falling due within one year	7	(13,968)		(10,292)
Net current assets			6,399		50
Total assets less current liabilities			130,712		124,535
Creditors: amounts falling due after more than one year	8		(100,000)		(100,000)

Net assets			30,712		24,535

Capital and reserves
Called up share capital	9	200	200
Profit and loss account		30,512	24,335
		30,712	24,535

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R W PROPERTY PROGRESS LIMITED

REGISTERED NUMBER: 09694950

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 April 2026.

Raymond Stanley Williams

Director

The notes on pages 3 to 7 form part of these financial statements.

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R W PROPERTY PROGRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

1.	General information

The company is registered in England and Wales. Its registered office is Stanley House, 27 Wellington Road, Bilston, West Midlands, WV14 6AH and its trading address is 11 Elmwood Close, Gnosall, Stafford, ST20 0RR. The company's principal activity continues to be that of residential property development and rental.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

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R W PROPERTY PROGRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles

20% reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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R W PROPERTY PROGRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Employees

The average monthly number of employees, including directors, during the year was 1 (2024 - 1).

4.	Tangible fixed assets

		Motor vehicles
		£
	Cost or valuation
	At 1 August 2024	6,063
	At 31 July 2025	6,063
	Depreciation
	At 1 August 2024	5,201
	Charge for the year on financed assets	172
	At 31 July 2025	5,373
	Net book value
	At 31 July 2025	690
	At 31 July 2024	862

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R W PROPERTY PROGRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 August 2024	123,623
	At 31 July 2025	123,623

The 2025 valuations were made by the directors,, on an open market value basis.


	At 31 July 2025

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2025	2024
	£	£

	Historic cost	123,623	123,623
		123,623	123,623

Debtors

					2025	2024
					£	£


Prepayments and accrued income	379	379
	379	379

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	1,747	2,148
Other creditors	9,361	6,644
Accruals and deferred income	2,860	1,500
	13,968	10,292

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R W PROPERTY PROGRESS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other creditors	100,000	100,000
	100,000	100,000

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

200 (2024 - 200) ordinary shares of £1.00 each	200	200

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