0 0 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2021 267 10,805 1,284 12,089 12,089 10,805 xbrli:pure xbrli:shares iso4217:GBP 09118912 2022-07-01 2023-06-30 09118912 2023-06-30 09118912 2022-06-30 09118912 2022-06-28 2022-06-30 09118912 2022-06-30 09118912 2022-06-27 09118912 bus:RegisteredOffice 2022-07-01 2023-06-30 09118912 bus:LeadAgentIfApplicable 2022-07-01 2023-06-30 09118912 bus:Director1 2022-07-01 2023-06-30 09118912 bus:Director2 2022-07-01 2023-06-30 09118912 bus:Director3 2022-07-01 2023-06-30 09118912 core:LandBuildings 2022-07-01 2023-06-30 09118912 core:WithinOneYear 2023-06-30 09118912 core:WithinOneYear 2022-06-30 09118912 core:RetainedEarningsAccumulatedLosses 2022-06-30 09118912 core:RetainedEarningsAccumulatedLosses 2022-06-27 09118912 core:RetainedEarningsAccumulatedLosses 2023-06-30 09118912 core:RetainedEarningsAccumulatedLosses 2022-06-30 09118912 core:ShareCapital 2023-06-30 09118912 core:ShareCapital 2022-06-30 09118912 core:LandBuildings 2023-06-30 09118912 core:LandBuildings 2022-06-30 09118912 core:LandBuildings 2022-06-30 09118912 bus:SmallEntities 2022-07-01 2023-06-30 09118912 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 09118912 bus:FullAccounts 2022-07-01 2023-06-30 09118912 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09118912 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 09118912
Red Mist Property Ltd
Unaudited Financial Statements
30 June 2023
Red Mist Property Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5
Red Mist Property Ltd
Officers and Professional Advisers
The board of directors
M. Robson
M. Williams
J. Phipps
Registered office
5 Castle Street
Farnham
Farnham
Surrey
GU9 7HR
Accountants
McNaught & Co
Chartered accountants
189 Wokingham Road
Reading
RG6 1LT
Bankers
Barclays
Leicester LE87 2BB
Red Mist Property Ltd
Directors' Report
Year ended 30 June 2023
The directors present their report and the unaudited financial statements of the company for the year ended 30 June 2023 .
Directors
The directors who served the company during the year were as follows:
M. Robson
M. Williams
J. Phipps
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 March 2024 and signed on behalf of the board by:
J. Phipps
Director
Registered office:
5 Castle Street
Farnham
Farnham
Surrey
GU9 7HR
Red Mist Property Ltd
Statement of Income and Retained Earnings
Year ended 30 June 2023
Period from
Year to
28 Jun 22 to
30 Jun 23
30 Jun 22
Note
£
£
Administrative expenses
267
----
----
Operating profit including other income which is the fair value adjustment on investment property
( 267)
----
----
Loss before taxation
( 267)
Tax on loss
----
----
Loss for the financial year and total comprehensive income
( 267)
----
----
Retained earnings at the start of the year
9,928
9,928
-------
-------
Retained earnings at the end of the year
9,661
9,928
-------
-------
All the activities of the company are from continuing operations.
Red Mist Property Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
12,089
10,805
Current assets
Cash at bank and in hand
101
3,251
Creditors: amounts falling due within one year
5
2,519
4,118
-------
-------
Net current liabilities
2,418
867
--------
--------
Total assets less current liabilities
9,671
9,938
-------
-------
Capital, reserves and liabilities
Called up share capital
10
10
Profit and loss account
9,661
9,928
-------
-------
Shareholders funds
9,671
9,938
-------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
J. Phipps
Director
Company registration number: 09118912
Red Mist Property Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Castle Street, Farnham, Farnham, GU9 7HR, Surrey.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4. Tangible assets
Land and buildings
£
Cost
At 1 July 2022
10,805
Additions
1,284
--------
At 30 June 2023
12,089
--------
Depreciation
At 1 July 2022 and 30 June 2023
--------
Carrying amount
At 30 June 2023
12,089
--------
At 30 June 2022
10,805
--------
Investment properties are valued annually by the directors on an open market existing use basis. The historical cost of the investment property is £12,089 ( 30.06.2022 - £10,805).
5. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
819
820
Other creditors
1,700
3,298
-------
-------
2,519
4,118
-------
-------
6. Controlling party
There is no controlling party (2020 - Red Mist Holdings Limited)