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REGISTERED NUMBER: 11501272 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR

R & SD PROPERTIES LIMITED

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| R & SD PROPERTIES LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTORS: | Mrs S D Ellis

| Mr R Ellis

| Ms N M English

| Mr S Ellis

| REGISTERED OFFICE: | Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

| REGISTERED NUMBER: | 11501272 (England and Wales)

| ACCOUNTANTS: | Lewis Brownlee (Chichester) Limited

| Chartered Accountants

| Appledram Barns

| Birdham Road

| Chichester

| West Sussex

| PO20 7EQ

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

BALANCE SHEET

31 AUGUST 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 839 |  | - |  |

Investment property | 5 | 16,695,000 |  | 18,518,942 |  |

16,695,839 |  | 18,518,942 |  |

CURRENT ASSETS

Debtors | 6 | 236,322 |  | 154,139 |  |

Prepayments and accrued income | 26,695 |  | 23,860 |  |

Cash at bank | 4,955 |  | 7,121 |  |

267,972 |  | 185,120 |  |

CREDITORS

Amounts falling due within one year | 7 | 264,362 |  | 343,141 |  |

NET CURRENT ASSETS/(LIABILITIES) | 3,610 |  | (158,021 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 16,699,449 |  | 18,360,921 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (9,230,159 | ) | (9,060,159 | ) |

PROVISIONS FOR LIABILITIES | (210 | ) | - |  |

ACCRUALS AND DEFERRED INCOME | (113,838 | ) | (76,333 | ) |

NET ASSETS | 7,355,242 |  | 9,224,429 |  |

CAPITAL AND RESERVES

Called up share capital | 10,000 |  | 10,000 |  |

Share premium | 9,261,841 |  | 9,261,841 |  |

Retained earnings | (1,916,599 | ) | (47,412 | ) |

SHAREHOLDERS' FUNDS | 7,355,242 |  | 9,224,429 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

BALANCE SHEET - continued

31 AUGUST 2025

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 12 May 2026 and were signed on its behalf by:

Mrs S D Ellis - Director

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| R & SD 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.

| The presentational currency of the financial statements is Pound Sterling (£) which is rounded to the nearest Pound (£).

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

| Turnover represents the total rents receivable during the year from the company’s property letting activities, exclusive of Value Added Tax, and is recognised on a straight-line basis over the period of the lease.

| Tangible fixed assets

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

| Computer equipment | - | 33% on cost

| Tangible fixed assets held for the company’s own use are stated at cost less accumulated depreciation and accumulated impairment losses.

| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

| Investment property

| Investment properties are properties held to earn rentals and/or for capital appreciation.

| Investment properties (including leasehold property) are initially recognised at cost, including directly attributable transaction costs. Subsequently, they are measured at fair value at each reporting date. Any changes in fair value are recognised in profit or loss in the period in which they arise.

| Freehold properties were revalued during the year, no depreciation has been charged on the properties as its not expected that the residual values will fall below the revalued amounts.

| The directors assess the fair value of investment properties annually based on market evidence, including independent valuations where considered appropriate.

| Financial instruments

| Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 section 1A. Basic financial instruments are recognised at amortised cost using effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

| 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.

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

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

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| COST

| Additions | 1,258 |  |

| At 31 August 2025 | 1,258 |  |

| DEPRECIATION

| Charge for year | 419 |  |

| At 31 August 2025 | 419 |  |

| NET BOOK VALUE

| At 31 August 2025 | 839 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 September 2024 | 18,518,942 |  |

| Additions | 128,342 |  |

| Revaluations | (1,952,284 | ) |

| At 31 August 2025 | 16,695,000 |  |

| NET BOOK VALUE

| At 31 August 2025 | 16,695,000 |  |

| At 31 August 2024 | 18,518,942 |  |

| The investment properties were appraised by Jones Lang LaSalle Limited on 7 February 2025 at £16,695,000. The company acquired the property portfolio at its market value of £18,647,284 including legal and professional fees.

| It is the opinion of the directors that the value of the investment property has not changed between the balance sheet date and the date of the appraisal.

| No provision has been made for deferred tax on revalued property assets as the carrying amount of the assets is currently below their original cost and therefore no taxable temporary differences exist at the reporting date.

| R & SD PROPERTIES LIMITED (REGISTERED NUMBER: 11501272) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 August 2025 is represented by:

£ |

| Valuation in 2025 | (1,952,284 | ) |

| Cost | 18,647,284 |  |

16,695,000 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 530 |  | 67 |  |

| Other debtors | 235,792 |  | 154,072 |  |

236,322 |  | 154,139 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 72,469 |  | 97,385 |  |

| Taxation and social security | 27,606 |  | 4,835 |  |

| Other creditors | 164,287 |  | 240,921 |  |

264,362 |  | 343,141 |  |

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Bank loans | 9,230,159 |  | 9,060,159 |  |

| Bank loans outstanding at the reporting date are due after more than five years.

9. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 9,230,159 |  | 9,060,159 |  |

| A charge is placed over the assets that have been secured. The debts are secured on the assets to which they relate.

10. | OPERATING LEASES

| The company has operating lease commitments in relation to ground rents on various properties held.

11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| Advances to the directors amounted to £67,032 (2024 : £83,639) during the year, at the balance sheet date there was an amount owed of £46,163 (2024 : £29,443). Interest has been charged on the above loan at the official rates. The loan is repayable on demand and has been repaid in full since the year end.