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Registered number: 11253604 RAYMOND BROWN ROOKERY PROPERTIES LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
COMPANY INFORMATION
Directors | S Clasby
| W Roberts
Company secretary | W Roberts
Registered number | 11253604
Registered office | 2nd Floor, Fryern House
| Winchester Road
| Chandler's Ford
| Eastleigh
| SO53 2DR
Independent auditor | Grant Thornton UK LLP
| Chartered Accountants & Statutory Auditor
| 1st Floor
| One Valpy
| 20 Valpy Street
| Reading
| RG1 1AR
Bankers | Lloyds Bank Plc
| 3 Town Quay
| Southampton
| Hampshire
| S014 2AQ
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
CONTENTS
| Page
Directors' Report | 1 - 2
Independent Auditor's Report | 3 - 8
Statement of Comprehensive Income | 9
Statement of Financial Position | 10
Statement of Changes in Equity | 11
Notes to the Financial Statements | 12 - 20
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2026 The directors present their report and the financial statements for the year ended 31 March 2026.
Results and dividends
The loss for the year, after taxation, amounted to £93,057 (2025: profit £1,281,219). The directors did not recommend the payment of dividends in the year (2025: £Nil).
Directors
The directors who served during the year, and up to the date of signing this report, were:
S Clasby
W Roberts
Directors' Responsibilities Statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law, including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs and profit or loss of the company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; and ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Qualifying third party indemnity provisions
The company purchased and maintained appropriate insurance cover in respect of Directors' and Officers' liabilities. Page 1
RAYMOND BROWN ROOKERY PROPERTIES LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026
Going concern
The company’s financial performance and financial position including its available cash and liquidity position are outlined in the company’s financial statements. Given available cash at the date of these financial statements this provides comfort that there is sufficient liquidity to support the company over the next twelve months. The directors have not identified any material uncertainties around the going concern assumptions and have reasonable expectation that the company has adequate resources to continue its existence for a period of at least twelve months from signing these financial statements. Thus they continue to adopt the going concern basis for accounting in preparing the annual financial statements.
Future developments
The directors do not currently anticipate any significant changes in the nature of the company’s business activities in the foreseeable future.
Subsequent events
There are no subsequent events to report.
Disclosure of information to auditor
The directors confirm that: ∙so far as each director is aware, there is no relevant audit information of which the company's auditor is unaware; and ∙the directors have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Auditor
The auditor, Grant Thornton UK LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
W Roberts Director
Date: 4 August 2026
Page 2
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED
Opinion
We have audited the financial statements of Raymond Brown Rookery Properties Limited (the 'company') for the year ended 31 March 2026, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion: ∙the financial statements give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended; ∙the financial statements have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙the financial statements have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 'Auditor's responsibilities for the audit of the financial statements' section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We are responsible for concluding on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify the auditor’s opinion. Our conclusions are based on the audit evidence obtained up to the date of our report. However, future events or conditions may cause the company to cease to continue as a going concern. In our evaluation of the directors' conclusions, we considered the inherent risks associated with the company's business model including effects arising from macro-economic uncertainties such as cost-push inflation and global supply chain issues, we assessed and challenged the reasonableness of estimates made by the directors and the related disclosures and analysed how those risks might affect the company's financial resources or ability to continue operations over the going concern period. Page 3
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED (CONTINUED) Conclusions relating to going concern (continued) In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report and financial statements, other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report and financial statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has been prepared in accordance with applicable legal requirements. Page 4
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED (CONTINUED)
Matter on which we are required to report under the Companies Act 2006
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Page 5
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED (CONTINUED)
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below: ∙The company is subject to many laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements. To understand these we enquired with management, and those charged with governance, concerning the company’s policies and procedures relating to: −the identification, evaluation and compliance with laws and regulations; −the detection and response to the risks of fraud; and −the establishment of internal controls to mitigate risks related to fraud or non-compliance with laws and regulations; ∙We enquired whether they were aware of any instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud. We corroborated the results of our enquiries to relevant supporting documentation; ∙We identified whether there is a culture of honesty and ethical behaviour and whether there is a strong emphasis on the prevention and deterrence of fraud; ∙We obtained an understanding of the legal regulatory frameworks that are applicable to the company and determined that the most significant laws and regulations which are directly relevant to specific assertions in the financial statements are those related to the reporting frameworks, being FRS 102 and the Companies Act 2006. ∙We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit; ∙The engagement team’s assessment of the susceptibility of the entity’s financial statements to material misstatement, including how fraud might occur; Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED (CONTINUED) Auditor's responsibilities for the audit of the financial statements (continued) ∙We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by evaluating management’s incentives and opportunities for manipulation of the financial statements. This included the evaluation of the risk of management override of controls. We determined that the principal risks were in relation to: −journal entries, with a focus on manual journals, including those with unusual account combinations or those posted by inappropriate users; and −potential management bias in determining significant estimates and judgements, particularly in relation to the impairment of certain assets and calculating the fair value of certain financial assets. ∙Our audit procedures involved: −evaluation of the design effectiveness of controls that management has in place to prevent and detect fraud; −identifying unusual or high-risk journals to investigate and verify, including credit postings to expenses accounts and postings by inappropriate users; −challenging assumptions and judgements made by management in its significant accounting estimates and judgements; and −considering whether audit evidence obtained was consistent with our wide understanding of the business. ∙No evidence of management override of controls was identified from our journal testing; ∙In addition, we completed audit procedures to conclude on the compliance of disclosures in the financial statements with applicable financial reporting requirements; ∙These audit procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error and detecting irregularities that result from fraud is inherently more difficult than detecting those that result from error, as fraud may involve collusion, deliberate concealment, forgery or intentional misrepresentations. Also, the further removed non-compliance with laws and regulations is from events and transactions reflected in the financial statements, the less likely we would become aware of it; ∙The engagement partner’s assessment of whether the engagement team collectively the appropriate competence and capabilities had to identify or recognize non-compliance with laws and regulations; ∙Assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team’s; −Understanding of, and practical experience with audit engagements of a similar nature and complexity through appropriate training and participation; −Knowledge of the industry in which the entity operations; and −Understanding of the legal and regulatory requirements specific to the entity. ∙We did not identify any matters relating to non-compliance with laws and regulations and fraud, or any such instances communicated to the audit team. Page 7
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF RAYMOND BROWN ROOKERY PROPERTIES LIMITED (CONTINUED) Auditor's responsibilities for the audit of the financial statements (continued) A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report. Use of our report This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. Andrew Wood BA ACA Senior Statutory Auditor for and on behalf of Grant Thornton UK LLP Statutory Auditor, Chartered Accountants Reading 4 August 2026 Page 8
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2026
| 2026 | 2025
Note | £ | £
Administrative expenses |  | (129,577) | (11,562)
Exceptional income | 3 | - | 1,364,149
Operating (loss)/profit |  | (129,577) | 1,352,587
Interest receivable and similar income | 6 | 5,486 | -
Interest payable and similar expenses | 7 | - | (71,368)
(Loss)/profit before tax |  | (124,091) | 1,281,219
Tax on (loss)/profit | 8 | 31,034 | -
(Loss)/profit for the financial year |  | (93,057) | 1,281,219
There were no recognised gains and losses for 2026 or 2025 other than those included in the Statement of Comprehensive Income.
There was no other comprehensive income for 2026 (2025: £Nil).
The notes on pages 12 to 20 form part of these financial statements.
Page 9
RAYMOND BROWN ROOKERY PROPERTIES LIMITED REGISTERED NUMBER:11253604
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2026
|  | 2026 |  | 2025
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 9 |  | 478,774 |  | 478,774
Current assets |  |  |  |  |
Debtors | 10 | 31,442 |  | - |
Cash at bank and in hand |  | 256,019 |  | 338,438 |
|  | 287,461 |  | 338,438 |
Creditors: amounts falling due within one year | 11 | (42,080) |  | - |
Net current assets |  |  | 245,381 |  | 338,438
Total assets less current liabilities |  |  | 724,155 |  | 817,212
Net assets |  |  | 724,155 |  | 817,212
Capital and reserves |  |  |  |  |
Called up share capital | 13 |  | 1,000 |  | 1,000
Profit and loss account | 14 |  | 723,155 |  | 816,212
Total equity |  |  | 724,155 |  | 817,212
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 were approved and authorised for issue by the board and were signed on its behalf by:
W Roberts
Director
Date: 4 August 2026
The notes on pages 12 to 20 form part of these financial statements.
Page 10
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2026
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 April 2024 | 1,000 | (465,007) | (464,007)
Comprehensive income for the year |  |  |
Profit for the year | - | 1,281,219 | 1,281,219
Total comprehensive income for the year | - | 1,281,219 | 1,281,219
At 1 April 2025 | 1,000 | 816,212 | 817,212
Comprehensive loss for the year |  |  |
Loss for the year | - | (93,057) | (93,057)
Total comprehensive loss for the year | - | (93,057) | (93,057)
At 31 March 2026 | 1,000 | 723,155 | 724,155
| The notes on pages 12 to 20 form part of these financial statements.
Page 11
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
1. | General information
Raymond Brown Rookery Properties Limited is a private company limited by shares, incorporated in England and Wales. Its registered number is 11253604, and its registered head office is located at 2nd Floor, Fryern House, Winchester Road, Chandler's Ford, Eastleigh, SO53 2DR. 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 company’s functional and presentation currency is Sterling and all values are rounded to the nearest pound (£) except when otherwise stated. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company’s financial performance and financial position including its available cash and liquidity position are outlined in the company’s financial statements. Given available cash at the date of these financial statements this provides comfort that there is sufficient liquidity to support the company over the next twelve months. The directors have not identified any material uncertainties around the going concern assumptions and have reasonable expectation that the company has adequate resources to continue its existence for a period of at least twelve months from signing these financial statements. Thus they continue to adopt the going concern basis for accounting in preparing the annual financial statements.
| 2.3 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.4 | Finance costs
Finance costs are charged to the Statement of Income and Retained Earnings 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.
| 2.5 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence. Page 12
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. 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. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.7 | 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, as disclosed below. Depreciation is provided on the following basis:
|  |  |  | Operating sites | - | Over the life of the utilisation of available landfill void at the site
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. Page 13
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.8 | Impairment of fixed assets
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment.
| 2.9 | 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.
| 2.10 | Financial instruments
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments. Impairment of financial assets 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 profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. Page 14
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Impairment of financial assets (continued) If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
3. | Exceptional items
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Waive of intercompany debt | - | 1,364,149
| The Waiver of Intercompany Debt income relates to loans made by other group companies to the company as part of the group Reorganisation that was completed on 14 March 2025. The Waivers and other exceptional income and expenses are not considered to be part of the ordinary trading of the company.
4. | Employees
| The company has no employees other than the directors.
Page 15
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
5. | Directors' remuneration
| None of the directors received any emoluments in respect of their qualifying services to the company. In the prior year and up until the 14 March 2025, being the date at which the company was demerged from Binder Holdco Limited Group, directors were remunerated by other group companies.
6. | Interest receivable and similar income
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Bank interest receivable | 5,486 | -
7. | Interest payable and similar expenses
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Loans from group undertakings | - | 71,368
8. | Taxation
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Total current tax | - | -
| Deferred tax |  |
| Origination and reversal of timing differences | (30,154) | -
| Adjustment in respect of prior periods | (880) | -
| Total deferred tax | (31,034) | -
| Taxation on (loss)/profit on ordinary activities | (31,034) | -
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RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 8.Taxation (continued)
| Factors affecting tax charge for the year The tax assessed for the year is higher than (2025: lower than) the standard rate of corporation tax in the UK of 25% (2025:25%). The differences are explained below:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| (Loss)/profit on ordinary activities before tax | (124,091) | 1,281,219
| (Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2025: 25%) | (31,023) | 320,305
| Effects of: |  |
| Expense not deductible for tax purposes | (891) | (341,037)
| Adjustments to tax charge in respect of prior periods | 880 | -
| Group relief | - | 20,732
| Total tax charge for the year | (31,034) | -
Factors that may affect future tax charges Deferred tax balances have been measured at 25%, being the enacted UK corporation tax rate applicable to future periods at the Statement of Financial Position date. Page 17
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
9. | Tangible fixed assets
|  | Operating sites
|  | £
| Cost or valuation |
| At 1 April 2025 | 781,895
| At 31 March 2026 | 781,895
| Depreciation |
| At 1 April 2025 | 303,121
| At 31 March 2026 | 303,121
| Net book value |
| At 31 March 2026 | 478,774
| At 31 March 2025 | 478,774
10. | Debtors
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Due after more than one year |  |
| Deferred taxation asset | 31,034 | -
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Due within one year |  |
| Amounts owed by group undertakings | 408 | -
| Amounts owed by group undertakings are non-interest bearing, unsecured and repayable on demand.
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RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
11. | Creditors: amounts falling due within one year
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Other creditors | 11,373 | -
| Accruals and deferred income | 30,707 | -
|  | 42,080 | -
12. | Deferred taxation
|  | 2026
|  | £
| At beginning of year | -
| Credited to profit or loss | 31,034
| At end of year | 31,034
| The deferred tax asset is made up as follows:
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
| Timing differences | 30,154 | -
| Adjustments in respect to prior periods | 880 | -
|  | 31,034 | -
13. | Share capital
|  |  |  |  | 2026 | 2025
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000,000 (2025: 1,000,000) Ordinary shares of £0.001 each | 1,000 | 1,000
All the ordinary shares carry equal participation in assets, rights to dividends and voting power. Page 19
RAYMOND BROWN ROOKERY PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026
14. | Reserves
The company's capital and reserves are as follows: Profit and loss account Includes all current year retained profit and losses.
15. | Related party transactions
| The company has taken advantage of the exemption allowed under section 33 of FRS 102 'Related party disclosure' not to disclose transactions with other members that are wholly owned within the group.
16. | Subsequent events
There are no subsequent events to report.
17. | Controlling party
During the year to 31 March 2026 the directors consider that the ultimate parent undertaking of the company was Raymond Brown Rookery Holdco Limited. On 14 March 2025 a group reorganisation occurred under a capital reduction and demerger arrangement and Raymond Brown Rookery Holdco Limited became the ultimate parent of the company. The group is headed by Raymond Brown Rookery Holdco Limited and does not prepare group financial statements as the groups qualifies as a small group under section 399 of the Companies Act 2006. The ultimate parent company is registered in England and Wales and the registered office address of the company is the same as Raymond Brown Rookery Properties Limited.
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