REGISTERED NUMBER: 03341701 (England and Wales)

RICH REAL ESTATE LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

Peter C Rich

Edward I Rich

Clare AME Rich

SECRETARY:

Caroline A Hall

REGISTERED OFFICE:

43 Portland Road

London

W11 4LJ

REGISTERED NUMBER:

03341701 (England and Wales)

SENIOR STATUTORY AUDITOR:

Theo Banos BA FCA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

FIXED ASSETS

Investment properties

4

38,851,100

38,851,100

CURRENT ASSETS

Debtors

5

169,173

236,780

Cash at bank

443,093

669,540

612,266

906,320

CREDITORS

Amounts falling due within one year

6

19,517,885

663,380

NET CURRENT (LIABILITIES)/ASSETS

(18,905,619

)

242,940

TOTAL ASSETS LESS CURRENT LIABILITIES

19,945,481

39,094,040

CREDITORS

Amounts falling due after more than one year

7

-

(19,013,546

)

PROVISIONS FOR LIABILITIES

(2,683,589

)

(2,683,428

)

NET ASSETS

17,261,892

17,397,066

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Fair value adjustment reserve

9

15,938,841

15,938,841

Retained earnings

1,322,051

1,457,225

SHAREHOLDERS' FUNDS

17,261,892

17,397,066

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 21 July 2026 and were signed on its behalf by:

Edward I Rich - Director

1.	STATUTORY INFORMATION

Rich Real Estate 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 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.

Functional and presentation currency

The company's functional and presentational currency is British Pound Sterling (GBP).

Rental income

Rental income, which excludes value added tax, represents rent from investment properties leased out under operating lease agreements and is measured at the fair value of the consideration received or receivable. Rental income from operating leases is recognised in the Income Statement on a straight line basis over the lease term. The lease term is the non-cancellable period of the lease. Where income is received in advance for a period beyond the accounting year end, income is deferred and a liability is recognised on the Balance Sheet.

Investment properties

Investment property is measured initially at cost, including related transaction costs. After initial recognition, investment property is carried at fair value. Fair value is based on active market prices, adjusted if necessary for differences in the nature, location or condition of the specific asset. The fair value of investment property reflects, among other things, rental income from current leases and other assumptions market participants would make when pricing the property under current market conditions.

Valuations are performed at the year-end internally by the directors who have experience in the location and category of the investment property being valued. These valuations form the basis for the carrying amounts in the Financial Statements.

Financial instruments

The company has chosen to adopt FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

38,851,100

NET BOOK VALUE

At 31 March 2026

38,851,100

At 31 March 2025

38,851,100

At 31 March 2026, an internal valuation was prepared which resulted in a market valuation for the investment properties of £38,851,000. Critical assumptions made relating to the valuation are yields between 2.45% and 9%.

The directors have reviewed the calculation undertaken as at 31 March 2026 and have concluded that there is no material change in the key valuation inputs used and assumptions utilised relative to those that applied at 31 March 2025. Accordingly, the directors consider it appropriate to adopt the 31 March 2026 investment property valuation in the preparation of these financial statements

Fair value at 31 March 2026 is represented by:

£

Valuation in 2026

38,851,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

168,138

231,993

Other debtors

1,035

4,787

169,173

236,780

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans

19,050,414

-

Trade creditors

3,411

7,630

Corporation tax

30,097

77,004

Other taxes and social security

66,770

82,312

Other creditors

4,302

-

Accruals and deferred income

362,891

496,434

19,517,885

663,380

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 2-5 years

-

19,013,546

The bank loan is secured by fixed and floating charges over the company's assets.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.

RESERVES

Fair

value

adjustment

reserve

£

At 1 April 2025

and 31 March 2026

15,938,841

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

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

The Report of the Auditors was unqualified.

Theo Banos BA FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor