Company registration number 10672507 (England and Wales)
RBH NO2 LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
RBH NO2 LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
RBH NO2 LTD
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
7,830,887
7,830,887
Debtors
4
523,153
617,561
Cash at bank and in hand
1,774
183
8,355,814
8,448,631
Creditors: amounts falling due within one year
5
(8,783,388)
(9,431,727)
Net current liabilities
(427,574)
(983,096)
Creditors: amounts falling due after more than one year
6
-
0
(4,167)
Net liabilities
(427,574)
(987,263)
Capital and reserves
Called up share capital
6
6
Profit and loss reserves
(427,580)
(987,269)
Total equity
(427,574)
(987,263)

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 10 August 2026
Mr S Brock
Director
Company registration number 10672507 (England and Wales)
RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

RBH No2 Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Campus Lodge, Pennine Five, Sim Street, Sheffield, S1 4DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements relate to RBH No2 Ltd as an individual entity.

1.2
Going concern

These financial statements are prepared on a going concern basis.true

The director has considered the ability of the company to continue as a going concern. Whilst the company has net liabilities of £427,574 at the balance sheet date, in the opinion of the director the company will be able to operate for the foreseeable future with the continued support of Marco Island Developments Ltd, a company under common control.

In addition, the company or Marco Island Developments Ltd, a company under common control, has confirmed that it has the intention and the ability to refinance or repay the bank loan of £6,555,750, which falls due within one year of the balance sheet date. The director has considered this support in assessing the company's ability to continue as a going concern and has concluded that the maturity of this loan does not give rise to a material uncertainty or significant doubt over the company's ability to continue as a going concern

The director therefore considers that it is appropriate to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover comprises the sale of properties in the ordinary course of business.

Other operating income comprises rents received or receivable on properties held for sale.

1.4
Stocks

Stocks include the cost of properties held for resale plus any associated costs to sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from connected companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease, including lease incentives, are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
3
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
207,990
Other debtors
18,478
200
Prepayments and accrued income
43,065
44,621
61,543
252,811
2025
2024
Amounts falling due after more than one year:
£
£
Prepayments and accrued income
344,750
364,750
Deferred tax asset
116,860
-
0
461,610
364,750
Total debtors
523,153
617,561
RBH NO2 LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
6,559,917
6,565,750
Trade creditors
17,331
29,629
Amounts owed to connected companies
2,142,270
2,778,475
Taxation and social security
51,878
48,403
Accruals and deferred income
11,992
9,470
8,783,388
9,431,727
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
-
0
4,167

Within short and long term borrowings is £4,167 (2024: £14,167), which is secured by way of a government guarantee.

The remaining short and long term bank borrowings are secured by way of a fixed and floating charge, held by Investec PLC, over all assets held within the company including the rental income receivable from the property held at 10-12 East Parade, Leeds. The full loan balance has been guaranteed personally by the shareholders and by RBH Devco Ltd, a connected company.

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