Redit Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04218318 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

REDIT LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

N J Hemme

SECRETARY:

P Hemme

REGISTERED OFFICE:

21 Stafford Road

Croydon

Surrey

CR0 4NG

REGISTERED NUMBER:

04218318 (England and Wales)

BANKERS:

Barclays

112 Woodcote Road

Wallington

Surrey

SM6 0NF

FIXED ASSETS

Tangible assets

2

125,000

CURRENT ASSETS

Debtors

1,590

1,493

Cash at bank

605

1,415

2,195

2,908

CREDITORS

Amounts falling due within one year

2,391

4,189

NET CURRENT LIABILITIES

(196

)

(1,281

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

124,804

123,719

CREDITORS

Amounts falling due after more than one
year

3

126,774

123,582

NET (LIABILITIES)/ASSETS

(1,970

)

137

CAPITAL AND RESERVES

Called up share capital

4

8

Revaluation reserve

65,880

Profit and loss account

(67,858

)

(65,751

)

SHAREHOLDERS' FUNDS

(1,970

)

137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 October 2016 and were signed by:

N J Hemme - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective January 2015).

Turnover

Turnover represents net rental income received.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment Properties

-

not provided

Deferred tax

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

the balance sheet date.

Investment properties

In accordance with SSAP 19, the companies properties are held for long-term investment and are

included in the Balance Sheet at their open market values. The surpluses or deficits on revaluation of

such properties are transferred to the investment property revaluation reserve. Depreciation is not

provided in respect of freehold investment properties.

This policy represents a departure from statutory accounting principles, which requires depreciation to

be provided on all fixed assets. The director considers that this policy is necessary in order that the

financial statements may give a true and fair view because current values and changes in current

values are of prime importance rather than the calculation of systematic annual depreciation.

Depreciation is only one of many factors reflected in the valuation in the valuation and the amount

which might otherwise have been shown cannot be separately identified or quantified.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 June 2015

and 31 May 2016

125,000

NET BOOK VALUE

At 31 May 2016

125,000

At 31 May 2015

125,000

3.

CREDITORS

Creditors include the following debts falling due in more than five years:

31/5/16

31/5/15

£

Repayable by instalments

102,774

105,082

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/16

31/5/15

value:

£

8

Ordinary

£1

8