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REGISTERED NUMBER: 10802278 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JULY 2021 TO 29 JUNE 2022

FOR

REDAK PROPERTIES LIMITED

REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)






CONTENTS OF THE FINANCIAL STATEMENTS
for the period 1 July 2021 to 29 June 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDAK PROPERTIES LIMITED

COMPANY INFORMATION
for the period 1 July 2021 to 29 June 2022







DIRECTORS: Mrs K Gnyla
A J S Gnyla





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 10802278 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)

BALANCE SHEET
29 June 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 253,282 253,282
Investment property 5 3,000,000 1,649,478
3,253,282 1,902,760

CURRENT ASSETS
Debtors 6 781,239 807,296
Cash at bank 2,688 1,754
783,927 809,050
CREDITORS
Amounts falling due within one year 7 2,611,162 2,579,422
NET CURRENT LIABILITIES (1,827,235 ) (1,770,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,426,047

132,388

CREDITORS
Amounts falling due after more than one
year

8

(308,324

)

(308,376

)

PROVISIONS FOR LIABILITIES (337,496 ) -
NET ASSETS/(LIABILITIES) 780,227 (175,988 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 1,012,489 -
Retained earnings (232,362 ) (176,088 )
SHAREHOLDERS' FUNDS 780,227 (175,988 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 June 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 June 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.

REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)

BALANCE SHEET - continued
29 June 2022


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 Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





A J S Gnyla - Director


REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)

NOTES TO THE FINANCIAL STATEMENTS
for the period 1 July 2021 to 29 June 2022

1. STATUTORY INFORMATION

Redak Properties 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.

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


2. 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.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2021 - NIL).

REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 July 2021 to 29 June 2022

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 July 2021
and 29 June 2022 253,282
NET BOOK VALUE
At 29 June 2022 253,282
At 30 June 2021 253,282

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2021 1,649,478
Additions 537
Revaluations 1,349,985
At 29 June 2022 3,000,000
NET BOOK VALUE
At 29 June 2022 3,000,000
At 30 June 2021 1,649,478

A mortgage charge was created 4 June 2019 over one of the company's investment properties.

Fair value at 29 June 2022 is represented by:
£   
Valuation in 2022 1,349,985
Cost 1,650,015
3,000,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors - 15,000
Other debtors 781,239 792,296
781,239 807,296

REDAK PROPERTIES LIMITED (REGISTERED NUMBER: 10802278)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the period 1 July 2021 to 29 June 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 51 50
Other creditors 478,773 471,734
Directors' current accounts 2,129,938 2,103,538
Accruals and deferred income 2,400 4,100
2,611,162 2,579,422

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 53 51
Bank loans - 2-5 years 26,028 16,874
Bank loans more 5 yr by instal 282,243 291,451
308,324 308,376

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 282,243 291,451

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100