Red Homes Estate Agents Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05341732 (England and Wales)

Red Homes Estate Agents Limited

Unaudited Financial Statements

for the Period 1 March 2018 to 31 March 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R B Spiller

REGISTERED OFFICE:

Yew Tree Cottage

Buckerell

Honiton

Devon

EX14 3EJ

REGISTERED NUMBER:

05341732 (England and Wales)

ACCOUNTANTS:

Haines Watts Exeter LLP

3 Southernhay West

Exeter

Devon

EX1 1JG

CURRENT ASSETS

Debtors

4

44,762

24,940

Cash at bank

10,053

564

54,815

25,504

CREDITORS

Amounts falling due within one year

5

(1,025

)

(1,000

)

NET CURRENT ASSETS

53,790

24,504

TOTAL ASSETS LESS CURRENT LIABILITIES

53,790

24,504

CAPITAL AND RESERVES

Called up share capital

1

318,209

Retained earnings

53,789

(293,705

)

SHAREHOLDERS' FUNDS

53,790

24,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director on 9 September 2019 and were signed by:

R B Spiller - Director

1.	STATUTORY INFORMATION

Red Homes Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the total invoice value, excluding value added tax, of commissions earned and

franchise fees receivable during the year and derives from the provision of services falling within the

company's ordinary activities.

Commission income is recognised at the point of legal completion.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the company after deducting all of its

liabilities.

Taxation

Taxation for the period 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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 period 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.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

44,762

24,940

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Accruals and deferred income

1,025

1,000

6.	RELATED PARTY DISCLOSURES

East Devon Estate Agents Ltd (parent company)

Management fees were charged to the parent company amounting to £30,000 (2018 - £25,000).

The company has an intercompany loan account. At the balance sheet date the amount due from the

parent company was £44,762 (2018 - £24,940). No interest is charged on this loan account.

7.	ULTIMATE CONTROLLING PARTY

The controlling party is East Devon Estate Agents Ltd.

The ultimate controlling party is R B Spiller.