Redak Properties Limited - Accounts to registrar (filleted) - small 23.2.5
Redak Properties Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 JUNE 2023 |
| FOR |
| REDAK PROPERTIES LIMITED |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 29 June 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| REDAK PROPERTIES LIMITED |
| COMPANY INFORMATION |
| for the year ended 29 June 2023 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1110 Elliott Court |
| Coventry Business Park |
| Herald Avenue |
| Coventry |
| West Midlands |
| CV5 6UB |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| BALANCE SHEET |
| 29 June 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investments | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Revaluation reserve |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| BALANCE SHEET - continued |
| 29 June 2023 |
| 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 |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 29 June 2023 |
| 1. | STATUTORY INFORMATION |
| Redak Properties Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2022 - NIL). |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 29 June 2023 |
| 4. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 30 June 2022 |
| and 29 June 2023 |
| NET BOOK VALUE |
| At 29 June 2023 |
| At 29 June 2022 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 30 June 2022 |
| and 29 June 2023 |
| NET BOOK VALUE |
| At 29 June 2023 |
| At 29 June 2022 |
| A mortgage charge was created 4 June 2019 over one of the company's investment properties. |
| Fair value at 29 June 2023 is represented by: |
| £ |
| Valuation in 2022 | 1,349,985 |
| Cost | 1,650,015 |
| 3,000,000 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Other creditors |
| Directors' current accounts | 2,154,283 | 2,129,938 |
| Accruals and deferred income |
| REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 29 June 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 272,461 | 282,243 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |