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REGISTERED NUMBER: 07419816 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

REDDOOR HOMES LTD

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDDOOR HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: A Wicking





REGISTERED OFFICE: 143 High Street
Rochester
Kent
ME1 1EL





REGISTERED NUMBER: 07419816 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 119,019 47,341
Investments 6 51,132 85,508
170,151 132,849

CURRENT ASSETS
Debtors 7 138,238 147,477
Cash at bank 289,792 159,094
428,030 306,571
CREDITORS
Amounts falling due within one year 8 331,126 164,115
NET CURRENT ASSETS 96,904 142,456
TOTAL ASSETS LESS CURRENT
LIABILITIES

267,055

275,305

CREDITORS
Amounts falling due after more than one
year

9

(116,667

)

(166,667

)

PROVISIONS FOR LIABILITIES (21,634 ) (8,995 )
NET ASSETS 128,754 99,643

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 1 1
Retained earnings 128,751 99,640
SHAREHOLDERS' FUNDS 128,754 99,643

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





A Wicking - Director


REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Reddoor Homes Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the revenue recognised at the period end.

Revenue from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance


REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

Financial instruments
Basic financial assets/liabilities including trade and other receivables/payables, cash and bank balances, are initially recognised at transaction price unless the arrangement constitutes a financing transaction (loan over period of time) where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Such assets/liabilities are subsequently carried at amortised cost using the effective interest method.

Investments
Investments are recognised at cost.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 137,730 10,650 43,048 191,428
Additions 9,644 117,097 3,404 130,145
Disposals - (10,650 ) - (10,650 )
At 31 March 2023 147,374 117,097 46,452 310,923
DEPRECIATION
At 1 April 2022 109,113 4,660 30,314 144,087
Charge for year 19,169 29,274 4,034 52,477
Eliminated on disposal - (4,660 ) - (4,660 )
At 31 March 2023 128,282 29,274 34,348 191,904
NET BOOK VALUE
At 31 March 2023 19,092 87,823 12,104 119,019
At 31 March 2022 28,617 5,990 12,734 47,341

6. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 April 2022 96,015 85,428 181,443
Additions - 113,504 113,504
Disposals (95,935 ) (117,282 ) (213,217 )
Impairments - (30,598 ) (30,598 )
At 31 March 2023 80 51,052 51,132
PROVISIONS
At 1 April 2022 95,935 - 95,935

Eliminated on disposal (95,935 ) - (95,935 )
At 31 March 2023 - - -
NET BOOK VALUE
At 31 March 2023 80 51,052 51,132
At 31 March 2022 80 85,428 85,508

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,754 39,068
Other debtors 75,484 108,409
138,238 147,477

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 50,000 50,000
Trade creditors 23,227 33,760
Amounts owed to group undertakings 6,000 4,000
Taxation and social security 90,883 59,817
Other creditors 161,016 16,538
331,126 164,115

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 116,667 166,667

10. SECURED DEBTS

The bank loan is secured by way of a fixed and floating charge over the company's current and future assets.

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £44,641 (2022: £57,249).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
A Wicking
Balance outstanding at start of year 79,468 178,876
Amounts advanced 30,298 57,557
Amounts repaid (248,639 ) (156,965 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (138,873 ) 79,468

REDDOOR HOMES LTD (REGISTERED NUMBER: 07419816)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The loan to the company from the director is unsecured, interest free and repayable on demand.

During the year, the overdrawn loan was repaid. During the period the loan was overdrawn, interest was charged on the loan at the official rate per HMRC.