REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Red Hen Property Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Red Hen Property Limited |
Red Hen Property Limited (Registered number: 05677323) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Red Hen Property Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Lake House |
Market Hill |
Royston |
Hertfordshire |
SG8 9JN |
Red Hen Property Limited (Registered number: 05677323) |
Abridged Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Non distributable reserves |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Red Hen Property Limited (Registered number: 05677323) |
Abridged Balance Sheet - continued |
31 January 2024 |
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 |
Red Hen Property Limited (Registered number: 05677323) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Red Hen Property Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has net current assets at 31 January 2024 of £537 (2023: net current liabilities of £497) and has net assets at 31 January 2024 of £36,435 (2023: net liabilities of £10,054) The directors have confirmed that the company will continue to be provided with financial support by the directors and shareholders. The directors envisage, therefore, that the company shall continue to trade as a going concern for the period of at least one year and one day from the balance sheet date. In light of this support, the financial statements have been prepared on a going concern basis. |
Should the company be unable to continue trading, adjustments would have to be made to adjust the value of the assets to their recoverable amount, and to provide for any further liabilities which might arise. |
Turnover |
Turnover represents net invoiced rents, excluding value added tax. |
Tangible fixed assets |
Freehold investment property | - |
Investment property is included in the accounts at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of the investment properties. Under FRS102 the valuation is under the fair value provisions of the Companies Act 2006 and therefore there is no departure from the requirements of the Companies Act 2006. |
The director considers that the fair value of the investment property is not materially different to the cost and therefore no adjustment has been made to the carrying value in the accounts. |
Financial instruments |
The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value. |
Taxation |
Taxation for the year 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. |
Red Hen Property Limited (Registered number: 05677323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
2. | ACCOUNTING POLICIES - continued |
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 year 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 year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 February 2023 |
Revaluations |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
The properties have been revalued in the year to ensure that they are included in the accounts at their fair value. |
Cost or valuation at 31 January 2024 is represented by: |
Totals |
£ |
Valuation in 2024 | 53,918 |
Cost | 176,329 |
230,247 |
Red Hen Property Limited (Registered number: 05677323) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.1.24 | 31.1.22 |
£ | £ |
Amounts falling due to related party between one and five years | 20,276 | 20,193 |
Amounts falling due in more than 5 years: |
Amounts due to related party in more than five years | 30,594 | 35,693 |
Directors loan | 130,000 | 130,000 |
180,870 | 185,886 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.24 | 31.1.23 |
value: | £ | £ |
Ordinary shares | £1 | 2 | 2 |