RJS Property Management Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

RJS Property Management Limited

(Registration number: 04368484)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	1,238,361	1,238,000
Current assets
Debtors	5	186	3,890
Cash at bank and in hand		8,059	3,516
		8,245	7,406
Creditors: Amounts falling due within one year	6	(33,772)	(36,760)
Net current liabilities		(25,527)	(29,354)
Total assets less current liabilities		1,212,834	1,208,646
Creditors: Amounts falling due after more than one year	6	(148,490)	(170,371)
Provisions for liabilities		(92,343)	(92,253)
Net assets		972,001	946,022
Capital and reserves
Called up share capital		2	2
Profit and loss account		971,999	946,020
Shareholders' funds		972,001	946,022

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 11 June 2026
 

R J Sage Director

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tallford House
38 Walliscote Road
Weston-super-Mare
Somerset
BS23 1LP

Principal activity

The principal activity of the company is property management.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rental of properties or services rendered, Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	3 years straight line

Impairment

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investments

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4	Tangible assets

	Long leasehold land and buildings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2025	1,238,000	1,591	1,239,591
Additions	-	541	541
Disposals	-	(1,073)	(1,073)
At 31 December 2025	1,238,000	1,059	1,239,059
Depreciation
At 1 January 2025	-	1,591	1,591
Charge for the year	-	180	180
Eliminated on disposal	-	(1,073)	(1,073)
At 31 December 2025	-	698	698
Carrying amount
At 31 December 2025	1,238,000	361	1,238,361
At 31 December 2024	1,238,000	-	1,238,000

Included within the net book value of land and buildings above is £1,238,000 (2024 - £1,238,000) in respect of long leasehold land and buildings.

The investment properties have been valued by the Director based on an open market value.
 

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

5

Debtors

	2025 £	2024 £
Other debtors	-	740
Prepayments	186	3,150
	186	3,890

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	5,031	5,324
Trade creditors		54	73
Amounts owed to group undertakings	9	202	-
Taxation and social security		12,522	13,639
Accruals and deferred income		14,574	17,240
Other creditors		1,389	484
		33,772	36,760

Creditors less than one year include bank loans of £5,031 (2024 - £5,324) secured on Flat 6, 6 Beaufort Road, Bristol, BS8 2JZ and Flat 59 The Maytrees, Fishponds Road. Eastville, Bristol, BS5 5SD.

Amounts owed to Group undertakings due within one year relate to monies owed to RSL Newco 2 Limited.

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6	Creditors (continued)

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	148,490	170,371

The bank loan of £148,490 (2024 £170,371) included in creditors due in more than one year is secured on Flat 6, 6 Beaufort Road, Bristol, BS8 2JZ and Flat 59 The Maytrees, Fishponds Road, Eastville, Bristol, BS5 5SD.

Included within creditors: amounts falling due after more than one year is an amount of £126,390 (2024: £146,696) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Creditors due in more than 5 years relate to a 20 year mortgage due for repayment by 2043 with interest fixed for the first 5 years of 5.84%, moving to variable rate of 9.05% after this, and a 25 year mortgage due for repayment by 2047 with interest fixed for the first 5 years of 3.78%, moving to variable rate of 2.83% after this.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses. This reserve records retained earnings and accumulated losses. Within this reserve is an element of undistributable reserves, relating to the revaluation of the investment properties, totalling £438,667.

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	148,490	170,371

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,031	5,324

RJS Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

9	Related party transactions

At the year end, the Company owed RSL Newco 2 Limited £202 (2024 £nil) in respect of an intercompany debt. The loan is interest free and repayable on demand.

Transactions with the director

2025	At 1 January 2025 £	Advances to director £	Repayments by director £	At 31 December 2025 £
Director's loan	740	26,583	(27,516)	(193)

2024	At 1 January 2024 £	Advances to director £	Repayments by director £	At 31 December 2024 £
Director's loan	1,064	40,000	(40,324)	740