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Registered number: 07743677
Lettings Plus Property Management Services Ltd
Unaudited Financial Statements
For The Year Ended 30 August 2025
RS Partnership Ltd
ACCA
10 Prospect Place
Welwyn
Hertfordshire
AL6 9EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 07743677
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,502 20,530
Investment Properties 5 1,525,000 1,485,000
Investments 6 100 100
1,540,602 1,505,630
CURRENT ASSETS
Debtors 7 9,993 6,739
Cash at bank and in hand 5,954 104,362
15,947 111,101
Creditors: Amounts Falling Due Within One Year 8 (6,888 ) 194,605
NET CURRENT ASSETS (LIABILITIES) 9,059 305,706
TOTAL ASSETS LESS CURRENT LIABILITIES 1,549,661 1,811,336
Creditors: Amounts Falling Due After More Than One Year 9 (961,350 ) (961,350 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (39,995 ) (33,351 )
NET ASSETS 548,316 816,635
CAPITAL AND RESERVES
Called up share capital 10 200 200
Fair value reserve 12 157,950 155,000
Profit and Loss Account 390,166 661,435
SHAREHOLDERS' FUNDS 548,316 816,635
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For the year ending 30 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Alison Lorraine Hall
Director
4 August 2026
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Lettings Plus Property Management Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07743677 . The registered office is Westland Court, Shady Lane, Watford, Hertfordshire, WD17 1QR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are presented in Pounds Sterling (£), which is the company’s functional currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 20% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost or Valuation
As at 31 August 2024 4,784 25,139 29,923
As at 30 August 2025 4,784 25,139 29,923
Depreciation
As at 31 August 2024 4,784 4,609 9,393
Provided during the period - 5,028 5,028
As at 30 August 2025 4,784 9,637 14,421
Net Book Value
As at 30 August 2025 - 15,502 15,502
As at 31 August 2024 - 20,530 20,530
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5. Investment Property
2025
£
Fair Value
As at 31 August 2024 1,485,000
Fair value adjustments 40,000
As at 30 August 2025 1,525,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2025 2024
£ £
Cost 1,330,000 1,330,000
The investment property was aquired June 2021 and consists of five leaseholds. The fair value of the investment property has been made by the director.
There has been no valuation of investment property by an independent valuer.
6. Investments
Subsidiaries
£
Cost or Valuation
As at 31 August 2024 100
As at 30 August 2025 100
Provision
As at 31 August 2024 -
As at 30 August 2025 -
Net Book Value
As at 30 August 2025 100
As at 31 August 2024 100
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 909 909
Amounts owed by group undertakings 110 -
Other debtors 8,974 5,830
9,993 6,739
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 3,734 5,316
Amounts owed to group undertakings - (224,762 )
Other creditors 1,400 24,541
Taxation and social security 1,754 300
6,888 (194,605 )
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 961,350 961,350
Creditors include bank loans which are secured of £961,350 (2024 - £961,350). They are secured by a fixed charge on 23 Westland Road, Watford, Hertfordshire, WD17 1QR.
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 200 200
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 31 August 2024 Amounts advanced Amounts repaid Amounts written off As at 30 August 2025
£ £ £ £ £
Mr Martyn Hall (1,812 ) 2,926 - - 1,114
Miss Alison Hall (7,081 ) 14,833 - - 7,752
The above loan is unsecured, interest free and repayable on demand.
12. Reserves
Fair value reserve Profit and Loss Account
£ £
As at 31 August 2024 155,000 661,435
Loss for the year and total comprehensive income - (48 )
Dividends paid - (268,271)
Transfer to/from Fair value reserve - (2,950)
Transfer to/from Profit & Loss Account 2,950 -
As at 30 August 2025 157,950 390,166
13. Related Party Transactions
At the balance sheet date, the company had an outstanding balance of £110 owed to it by a group company. The balance is unsecured, interest-free and repayable on demand.
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14. Ultimate Controlling Party
The company's ultimate controlling party is Westland CT Holdings Ltd by virtue of the ownership of 100% of the issued share capital in the company.
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