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Registered Number: 12887311
England and Wales

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 30 September 2023

for

REDEMPTION PROPERTIES LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets
Tangible fixed assets 2 299,842    219,112 
299,842    219,112 
 
Current assets
Cash at bank and in hand 2,980    5,141 
2,980    5,141 
Creditors: amount falling due within one year 3 (357)   (11)
Net current assets 2,623    5,130 
 
Total assets less current liabilities 302,465    224,242 
Creditors: amount falling due after more than one year 4 (302,093)   (207,731)
Net assets 372    16,511 
 

Capital and reserves
Called up share capital 1    1 
Reserves 5 20,630    20,630 
Profit and loss account 6 (20,259)   (4,120)
Shareholders fund 372    16,511 
 
For the year ended 30 September 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 of the companies act 2006.
  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 in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors:


----------------------------------
Agborndip Ayukonchong
Director

Date approved: 09 April 2024
1
Statutory Information
REDEMPTION PROPERTIES LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 12887311, registration address 29 Stafford Way, Market Harborough, LE16 7EF, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
2.

Tangible fixed assets

Cost or Valuation Other - 1   Other - 2   Other - 3   Total
  £   £   £   £
At 01 October 2022 129,742    89,370      219,112 
Additions     80,730    80,730 
Disposals      
At 30 September 2023 129,742    89,370    80,730    299,842 
Depreciation
At 01 October 2022      
Charge for year      
On disposals      
At 30 September 2023      
Net book values
Closing balance as at 30 September 2023 129,742    89,370    80,730    299,842 
Opening balance as at 01 October 2022 129,742    89,370      219,112 

3.

Creditors: amount falling due within one year

2023
£
  2022
£
Accrued expenses 357   
Other creditors  
Corporation tax   11 
357    11 
4.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Mortgage loan 162,122    162,145 
Bridging loan 41,971   
Directors' loan accounts 98,000    45,586 
302,093    207,731 
5.

Reserves

2023
£
  2022
£
Revaluation of fixed assets 20,630    20,630 
20,630    20,630 
6.

Profit and loss account

  2023
£
Balance at 01 October 2022 (4,120)
Loss for the year (16,139)
Balance at 30 September 2023 (20,259)

7.

Average number of employees

Average number of employees during the year was 1  (2022: 1).
2