Company No: 01407699 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	S Barrett
	I Birtles
	E L Grut (Resigned 31 December 2024)
	I W Harbour
	J McElgunn
	T Meller
	R T Paul
	S J B Smithson (Resigned 31 December 2024)
	G C Stirk
	A J Tyley

SECRETARY

J E Pencakowski

REGISTERED OFFICE	Level 14
	The Leadenhall Building
	122 Leadenhall Street
	London
	EC3V 4AB
	United Kingdom

COMPANY NUMBER

01407699 (England and Wales)

AUDITOR	Praxis
	Statutory Auditor
	1 Fore Street Avenue
	London
	EC2Y 9DT

BANKERS	HSBC Bank Plc
	Kings Mall
	King Street
	Hammersith
	London
	W6 0QF

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	132,652		137,852
Investments	4	14,232		6,385,789
		146,884		6,523,641
Current assets
Debtors	5	13,999,993		4,023,239
Cash at bank and in hand	6	84,642		30,219
		14,084,635		4,053,458
Creditors: amounts falling due within one year	7	( 9,826,795)		( 6,439,720)
Net current assets/(liabilities)		4,257,840		(2,386,262)
Total assets less current liabilities		4,404,724		4,137,379
Provision for liabilities	8	( 302,432)		( 332,553)
Net assets		4,102,292		3,804,826
Capital and reserves
Called-up share capital	9	1,000		1,000
Profit and loss account		4,101,292		3,803,826
Total shareholder's funds		4,102,292		3,804,826

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of RSHP Architects Limited (registered number: 01407699) were approved and authorised for issue by the Board of Directors on 27 November 2025. They were signed on its behalf by:

Ian Birtles Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

RSHP Architects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 14, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

RSHP Architects Limited is a wholly owned subsidiary of RSHP Group Limited and the results of RSHP Architects Limited are included in the consolidated financial statements of RSHP Group Limited which are available from Level 14, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, United Kingdom

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

• the amount of revenue can be measured reliably;
• it is probable that the Group will receive the consideration due under the contract;
• the stage of completion of the contract at the end of the period can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

50 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	139		10

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2024	260,062		260,062
At 31 December 2024	260,062		260,062
Accumulated depreciation
At 01 January 2024	122,210		122,210
Charge for the financial year	5,200		5,200
At 31 December 2024	127,410		127,410
Net book value
At 31 December 2024	132,652		132,652
At 31 December 2023	137,852		137,852

4. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	4,231
Additions	1
At 31 December 2024	4,232
Carrying value at 31 December 2024	4,232
Carrying value at 31 December 2023	4,231

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 January 2024	6,381,558		6,381,558
At 31 December 2024	6,381,558		6,381,558
Provisions for impairment
At 01 January 2024	0		0
Impairment	6,371,558		6,371,558
At 31 December 2024	6,371,558		6,371,558
Carrying value at 31 December 2024	10,000		10,000
Carrying value at 31 December 2023	6,381,558		6,381,558

Other investments represent the company's capital investment in RSHP LLP of which the company is a corporate member, and is held at cost less impairment because the fair value cannot be measured reliably.

Investments in shares

Name of entity	Registered office	Principal activity	Class of shares	Ownership 31.12.2024	Ownership 31.12.2023	Held
RSHP Ireland Limited	c/o BDO, 5th Floor, Beaux Lane House, Mercer Street Lower, D02 DH60, Dublin 2, Ireland	Dormant	Ordinary	100.00%	100.00%	Direct
RSHP France Sarl (1)	c/o BDO 43-47 Avenue de la Grande Armée, 75116 Paris, France	Project management services	Ordinary	100.00%	100.00%	Indirect
RSHP Holdings Limited	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Sub-holding company	Ordinary	100.00%	0.00%	Direct
RSHP Barangaroo Limited (2)	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Project management services	Ordinary	100.00%	0.00%	Indirect
RSHP1 Limited (2)	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Project management services	Ordinary	100.00%	0.00%	Indirect
RSHP2 Limited(2)	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Dormant	Ordinary	100.00%	0.00%	Indirect
RSHP3 Limited(2)	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Dormant	Ordinary	100.00%	0.00%	Indirect
RSHP4 Limited(2)	Level 14 The Leadenhall Building, 122 Leadenhall Street, London, England, EC3V 4AB	Leasing of equipment	Ordinary	100.00%	0.00%	Indirect
Rogers Stirk Harbour + Partners S.L.(2)	C/ Velazquez 78, 5º Piso Puerta Izquierda, Madrid 28001, Spain	Architects and design consultants	Ordinary	100.00%	0.00%	Indirect
RSHP Australia Pty Ltd(2)	Level 31 Tower Two, International Towers, 200 Barangaroo Avenue, Barangaroo, NSW 2000, Australia	Project support services	Ordinary	100.00%	0.00%	Indirect
RSHP Switzerland GmbH(2)	c/o BDO SA Route de Meyrin 123 – CP 24 – 1219 Châtelaine, Geneva, Switzerland	Project support services	Ordinary	100.00%	0.00%	Indirect
RSHP Colombia SAS(2)	TV 21 No. 98 05, Bogota, Colombia	Architects and design consultants	Ordinary	100.00%	0.00%	Indirect
Rogers Stirk Harbour Consulting Company Ltd(2)	27F, No 9, Songgao Road, Xinyi District, Taipei City 110, Taiwan R.O.C	Project support services	Ordinary	100.00%	0.00%	Indirect
RSHP US Inc.(2)	Tower 45, Suite 2801, 120 West 45th Street, New York, NY 10036-4041, USA	Project support services	Ordinary	100.00%	0.00%	Indirect
RSHP Architects SLP (1)	Marques de Riscal nº2, escalera interior planta 3, Madrid 28010	Project support services	Ordinary	99.97%	99.97%	Indirect
RSHP Architectural Drawing & Services LLC (2)	Room 34, 19th Floor Prism Tower, Business Bay, Dubai PO Box number 417441, Emirates	Architects and design consultants	Ordinary	100.00%	0.00%	Indirect

(1) Held indirectly by RSHP Ireland Limited
(2) Held indirectly by RSHP Holdings Limited

5. Debtors

	2024		2023
	£		£
Trade debtors	1,208,838		0
Amounts owed by Group undertakings	1,388,858		3,051,093
Amounts owed by joint ventures	0		1,006
Deferred tax asset	468,437		477,980
Other debtors	10,933,860		493,160
	13,999,993		4,023,239

Amounts owed by Group undertakings and joint ventures are repayable on demand and do not bear interest.

6. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	84,642		30,219
Less: Bank overdrafts	( 2,414,937)		0
	(2,330,295)		30,219

7. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank overdrafts	2,414,937		0
Trade creditors	1,530,390		22,311
Amounts owed to Group undertakings	1,503,554		12,855
Amounts owed to joint ventures	0		12,134
Amounts owed to connected persons	400		5,097,067
Other taxation and social security	861,543		0
Obligations under finance leases and hire purchase contracts	145,271		0
Other creditors	3,370,700		1,295,353
	9,826,795		6,439,720

Amounts owed to Group undertakings and connected persons are repayable on demand and do not bear interest.

The bank overdraft of £2,414,937 (2023: £nil) is secured by a fixed and floating charge over the assets of the company and its group arising now or in the future.

8. Provision for liabilities

	2024		2023
	£		£
Other provisions	302,432		332,553

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

10. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	39,911		0

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2024		2023
	£		£
Amounts due (to)/from joint ventures	0		(11,128)
Amounts due from entities in which the entity itself has a participating interest	0		82,863
Fees payable to associates	0		(816,293)
Amounts due from/(to) entities in which the entity itself has a participating interest	0		(5,092,836)
Other	0		(4,231)

Amounts due from joint ventures and from entities in which the Company has a participating interest are unsecured, repayable on demand and do not bear interest. Loans from from entities in which the Company has a participating interest are unsecured, repayable on demand and do not bear interest.

The Company has availed of the exemption provided in FRS 102 Section 1A not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

12. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.

13. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Nikinder Baller on behalf of Praxis.

14. Ultimate controlling party

Parent Company:

RSHP Group Limited

Level 14, The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB

The parent company produces group accounts and copies of these can be obtained from Companies House, Crown Way, Cardiff.