Redit Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04218318 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 JUNE 2016 TO 31 MARCH 2017

FOR

REDIT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

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

3

125,000

125,000

CURRENT ASSETS

Debtors

4

814

1,590

Cash at bank

1,442

605

2,256

2,195

CREDITORS

Amounts falling due within one year

5

3,653

2,391

NET CURRENT LIABILITIES

(1,397

)

(196

)

TOTAL ASSETS LESS CURRENT LIABILITIES

123,603

124,804

CREDITORS

Amounts falling due after more than one year

6

(123,289

)

(126,774

)

PROVISIONS FOR LIABILITIES

(13,176

)

(13,176

)

NET LIABILITIES

(12,862

)

(15,146

)

CAPITAL AND RESERVES

Called up share capital

8

8

Retained earnings

(12,870

)

(15,154

)

SHAREHOLDERS' FUNDS

(12,862

)

(15,146

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 28 June 2017 and were signed by:

N J Hemme - Director

1.	STATUTORY INFORMATION

Redit 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 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

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.

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.

3.	TANGIBLE FIXED ASSETS

Investment

Properties

£

COST OR VALUATION

At 1 June 2016

and 31 March 2017

125,000

NET BOOK VALUE

At 31 March 2017

125,000

At 31 May 2016

125,000

Cost or valuation at 31 March 2017 is represented by:

Investment

Properties

£

Valuation in 2005

70,880

Valuation in 2006

15,000

Valuation in 2009

(20,000

)

Cost

59,120

125,000

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/5/16

£

£

Trade debtors

214

990

Accruals

600

600

814

1,590

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/5/16

£

£

Bank loans and overdrafts

2,918

2,240

Other creditors

735

151

3,653

2,391

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/17

31/5/16

£

£

Bank loans

99,988

102,774

Other creditors

23,301

24,000

123,289

126,774

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

99,988

102,774

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Michael Hemme.