Redab Properties Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02866340 (England and Wales)

REDAB PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

C G Pettersson

Ms B M Sundgren

SECRETARY:

Ms B M Sundgren

REGISTERED OFFICE:

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

REGISTERED NUMBER:

02866340 (England and Wales)

ACCOUNTANTS:

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

FIXED ASSETS

Investments

4

2,091,908

2,130,556

CURRENT ASSETS

Debtors

1,923,878

1,795,369

CREDITORS

Amounts falling due within one year

1,475,100

1,397,407

NET CURRENT ASSETS

448,778

397,962

TOTAL ASSETS LESS CURRENT LIABILITIES

2,540,686

2,528,518

CAPITAL AND RESERVES

Called up share capital

1,126,154

1,126,154

Share premium

35,946

35,946

Revaluation reserve

5

362,909

401,557

Retained earnings

1,015,677

964,861

SHAREHOLDERS' FUNDS

2,540,686

2,528,518

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2023 and were signed on its behalf by:

C G Pettersson - Director

Ms B M Sundgren - Director

1.	STATUTORY INFORMATION

Redab Properties Limited is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 sales, rents received and other income, excluding value added tax.

Investments in subsidiaries

Subsidiaries are valued at their Balance Sheet values.

Taxation

Taxation for the year 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 year 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 December 2021

2,130,556

Revaluations

(38,648

)

At 30 November 2022

2,091,908

NET BOOK VALUE

At 30 November 2022

2,091,908

At 30 November 2021

2,130,556

Cost or valuation at 30 November 2022 is represented by:

Totals

£

Valuation in 2013

(46,593

)

Valuation in 2014

160,375

Valuation in 2015

252,230

Valuation in 2016

345,857

Valuation in 2017

(262,895

)

Valuation in 2018

(11,774

)

Valuation in 2019

(8,248

)

Valuation in 2020

(17,516

)

Valuation in 2021

(9,880

)

Valuation in 2022

(38,648

)

Cost

1,729,000

2,091,908

5.

RESERVES

Revaluation

reserve

£

At 1 December 2021

401,557

Shares in subsidiaries

(38,648

)

At 30 November 2022

362,909

6.	DEFERRED TAXATION

There are contingent assets in respect of Corporation Tax, these have not been provided as no expectation of a Corporation Tax liability arising.

Trading losses £863,175 (2021 £872.827)

Unclaimed capital allowances £260,280 (2021 £260,280),

There is a contingent liability on Redab Cowcross Limited leaving the group of £64,269 (2021 £289,477)

There are no plans to dispose of this company at present, and would to a great extent be mitigated by above losses.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2022 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

Date: .............................................