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Registered Number: 11848603
England & Northern Ireland

 

 

 

WHITE & RED GROUP LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 28 February 2023.
Principal activities
Principal activity of the company during the financial year was of buying, selling of own residential real estate and renting & Other letting and operating of own or leased real estate.
Director
The director who served the company throughout the year was as follows:
Prasanna Venkadesh Sakthisekaran
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Prasanna Venkadesh Sakthisekaran
Director

Date approved: 22 September 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 2,985    5,684 
Tangible fixed assets 4 72,305    73,238 
75,290    78,922 
Current assets      
Cash at bank and in hand 3,129    2,309 
Creditors: amount falling due within one year 5 (299)   (299)
Net current assets 2,830    2,010 
 
Total assets less current liabilities 78,120    80,932 
Creditors: amount falling due after more than one year 6 (102,894)   (100,391)
Net liabilities (24,774)   (19,459)
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account (24,874)   (19,559)
Shareholder's funds (24,774)   (19,459)
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 22 September 2023 and were signed by:


-------------------------------
Prasanna Venkadesh Sakthisekaran
Director
2
General Information
White & Red Group Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 11848603, registration address 21 Heath Drive, Gidea Park, Romford, Essex, RM2 5QH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Know How are being amortised evenly over their estimated useful life of five years
Software License
Software License is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Software License of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33.33% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Other   Software License   Total
  £   £   £
At 01 March 2022 8,497    3,000    11,497 
Additions    
Disposals    
At 28 February 2023 8,497    3,000    11,497 
Amortisation
At 01 March 2022 5,098    715    5,813 
Charge for year 1,699    1,000    2,699 
On disposals    
At 28 February 2023 6,797    1,715    8,512 
Net book values
At 28 February 2023 1,700    1,285    2,985 
At 28 February 2022 3,399    2,285    5,684 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Investment properties   Total
  £   £   £
At 01 March 2022 5,396    72,239    77,635 
Additions    
Disposals    
At 28 February 2023 5,396    72,239    77,635 
Depreciation
At 01 March 2022 4,397      4,397 
Charge for year 933      933 
On disposals    
At 28 February 2023 5,330      5,330 
Net book values
Closing balance as at 28 February 2023 66    72,239    72,305 
Opening balance as at 01 March 2022 999    72,239    73,238 


5.

Creditors: amount falling due within one year

2023
£
  2022
£
Other Creditors (1)   (1)
Directors' Current Accounts 300    300 
299    299 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Directors' Loan Accounts 102,894    100,391 
102,894    100,391 

7.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3