Redland Developments Limited - Accounts to registrar (filleted) - small 23.2.5

Redland Developments Limited - Accounts to registrar (filleted) - small 23.2.5

REDLAND DEVELOPMENTS LIMITED - Company Information

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Redland Developments Limited

Financial Statements for the Year Ended 31 December 2022






Redland Developments Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: A P Donnelly
B Donnelly





SECRETARY: B Donnelly





REGISTERED OFFICE: 3 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ





REGISTERED NUMBER: 04918544 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA
1
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Redland Developments Limited


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 Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Redland Developments Limited for the year ended 31 December 2022 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Redland Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Redland Developments Limited and state those matters that we have agreed to state to the Board of Directors of Redland Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redland Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Redland Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Redland Developments Limited. You consider that Redland Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Redland Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


29 September 2023

This page does not form part of the statutory financial statements

2
Redland Developments Limited (Registered number: 04918544)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 190,000 170,000

CURRENT ASSETS
Debtors 4 74,096 74,096
Cash at bank 5,632 9,822
79,728 83,918
CREDITORS
Amounts falling due within one year 5 83,742 92,439
NET CURRENT LIABILITIES (4,014 ) (8,521 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
185,986
161,479

CREDITORS
Amounts falling due after more than
one year
6
-
3,631
NET ASSETS 185,986 157,848

CAPITAL AND RESERVES
Called up share capital 50 50
Non-distributable reserve 41,654 21,654
Retained earnings 144,282 136,144
SHAREHOLDERS' FUNDS 185,986 157,848

The notes form part of these financial statements

3 continued...
Redland Developments Limited (Registered number: 04918544)

Balance Sheet - continued
31 December 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





A P Donnelly - Director


The notes form part of these financial statements

4
Redland Developments Limited (Registered number: 04918544)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. 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.

Turnover
Turnover represents net invoiced rents.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 170,000
Revaluations 20,000
At 31 December 2022 190,000
NET BOOK VALUE
At 31 December 2022 190,000
At 31 December 2021 170,000

5 continued...
Redland Developments Limited (Registered number: 04918544)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


3. INVESTMENT PROPERTY - continued

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2016 21,654
Valuation in 2022 20,000
Cost 148,346
190,000

The investment property was valued on an open market basis in 2022 by the directors with the help of their professional advisors.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 74,096 74,096

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans - 12,523
Trade creditors 1,428 -
Taxes & social security costs 1,909 2,307
Other creditors & accruals 80,405 77,609
83,742 92,439

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2022 2021
£    £   
Bank loans - 3,631

7. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans - 16,154

The bank loan is in the form of a mortgage and is secured over the property to which it relates.

6