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Registered Number: 13231875
England and Wales

 

 

 

RED LION WIDE BARGATE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
Directors Shahzad Nawaz
Abdul Aziz
Registered Number 13231875
Registered Office Fenlake House
Fenlake Business Centre
Peterborough
PE1 5BQ
1
Director's report and financial statements
The directors present 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 purchase and development of commercial and residential property.
Directors
The directors who served the company throughout the year were as follows:
Shahzad Nawaz
Abdul Aziz
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that 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 directors are 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 directors are 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.

This report was approved by the board and signed on its behalf by:


----------------------------------
Shahzad Nawaz
Director

Date approved: 29 November 2023
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Red Lion Wide Bargate Limited for the year ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Red Lion Wide Bargate Limited for the year ended 28 February 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Red Lion Wide Bargate Limited , as a body, in accordance with the terms of our engagement letter dated 29 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of Red Lion Wide Bargate Limited and state those matters that we have agreed to state to the Board of Directors of Red Lion Wide Bargate Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red Lion Wide Bargate Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Red Lion Wide Bargate Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Red Lion Wide Bargate Limited . You consider that Red Lion Wide Bargate Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Red Lion Wide Bargate Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
28 February 2023



....................................................
aa Chartered Accountants
Fenlake House,
Fenlake Business Centre,
Fengate,
Peterborough,
PE1 5BQ
29 November 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 652,093   
652,093   
Current assets      
Debtors 4 46,113   
Cash at bank and in hand 1,893    2 
48,006    2 
Creditors: amount falling due within one year 5 (714,581)  
Net current liabilities (666,575)   2 
 
Total assets less current liabilities (14,482)   2 
Net liabilities (14,482)   2 
 

Capital and reserves
     
Called up share capital 6 2    2 
Profit and loss account (14,484)  
Shareholder's funds (14,482)   2 
 


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.

Directors' 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 directors acknowledge 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 board of directors on 29 November 2023 and were signed on its behalf by:


-------------------------------
Shahzad Nawaz
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 March 2021 2 
Total comprehensive income for the year
Total investments by and distributions to owners
At 28 February 2022 2 
At 01 March 2022
Profit for the year (14,484) (14,484)
Total comprehensive income for the year (14,484) (14,484)
Shares issued 2 
Total investments by and distributions to owners 2 
At 28 February 2023 2  (14,484) (14,482)
5
General Information
Red Lion Wide Bargate Limited is a private company, limited by shares, registered in England and Wales, registration number 13231875, registration address Fenlake House, Fenlake Business Centre, Peterborough, PE1 5BQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
2.

Average number of employees including directors

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 March 2022  
Additions 652,093    652,093 
Disposals  
At 28 February 2023 652,093    652,093 
Depreciation
At 01 March 2022  
Charge for year  
On disposals  
At 28 February 2023  
Net book values
Closing balance as at 28 February 2023 652,093    652,093 
Opening balance as at 01 March 2022  

Capitalised Borrowing Costs
Land and buildings additions includes £11,389 of capitalised finance and
borrowing costs. Interest of 0.79% per month is charged on this facility

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Prepayments & Accrued Income 45,611   
Other Debtors 502   
46,113   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 7,389   
Bank Loans & Overdrafts 411,868   
Amounts Owed to Participating Interests 282,435   
Accrued Expenses 12,889   
714,581   
Creditors - Loan Security
Included in creditors due within one year is £411,867 which is secured by a fixed and floating charge over the company's assets.


6.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Ordinary shares of £1.00 each  
 

7.

Related Party Transactions

During the year the company entered into the following transactions with related parties.  These related parties are either controlled by directors as a sole shareholder or as joint shareholders.  No interest is charged on these loans.

Particulars   2022
£
Red Lion Enterprise Properties Limited 25,230 
Isaac Properties Limited 200,000 
Occupation Road Properties Limited 25,000 
Red Lion Bicker Limited 14,715 
Red Lion Construction Limited 17,490 
282,435 
6