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Registration number: 07605254

Alistair Redhouse Estate Agents Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Alistair Redhouse Estate Agents Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Alistair Redhouse Estate Agents Limited

Company Information

Directors

DJ Redhouse

AJ Redhouse

Mrs CA Redhouse

Registered office

65 High Street
Kidlington
Oxfordshire
OX5 2DN

Accountants

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Alistair Redhouse Estate Agents Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Alistair Redhouse Estate Agents Limited for the year ended 31 March 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Alistair Redhouse Estate Agents Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Alistair Redhouse Estate Agents Limited and state those matters that we have agreed to state to the Board of Directors of Alistair Redhouse Estate Agents Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alistair Redhouse Estate Agents Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Alistair Redhouse Estate Agents 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 loss of Alistair Redhouse Estate Agents Limited. You consider that Alistair Redhouse Estate Agents 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 Alistair Redhouse Estate Agents 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.

......................................

Opus Accounting Limited
Chartered Certified Accountants
Lindenmuth House
37 Greenham Business Park
Greenham
Thatcham
Berkshire
RG19 6HW

20 August 2024

 

Alistair Redhouse Estate Agents Limited

(Registration number: 07605254)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

36,988

45,561

Current assets

 

Debtors

5

22,502

27,280

Cash at bank and in hand

 

424,890

533,698

 

447,392

560,978

Creditors: Amounts falling due within one year

6

(41,565)

(104,930)

Net current assets

 

405,827

456,048

Total assets less current liabilities

 

442,815

501,609

Creditors: Amounts falling due after more than one year

6

(11,221)

(9,979)

Provisions for liabilities

(6,828)

-

Net assets

 

424,766

491,630

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

424,666

491,530

Shareholders' funds

 

424,766

491,630

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Alistair Redhouse Estate Agents Limited

(Registration number: 07605254)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2024 and signed on its behalf by:
 

.........................................
AJ Redhouse
Director

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
65 High Street
Kidlington
Oxfordshire
OX5 2DN
UK

These financial statements were authorised for issue by the Board on 15 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

46,804

55,990

102,794

Additions

3,755

-

3,755

At 31 March 2024

50,559

55,990

106,549

Depreciation

At 1 April 2023

32,737

24,496

57,233

Charge for the year

4,455

7,873

12,328

At 31 March 2024

37,192

32,369

69,561

Carrying amount

At 31 March 2024

13,367

23,621

36,988

At 31 March 2023

14,067

31,494

45,561

5

Debtors

Current

2024
£

2023
£

Trade debtors

14,510

23,915

Prepayments

726

365

Other debtors

7,266

3,000

 

22,502

27,280

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,446

6,147

Taxation and social security

30,652

91,575

Accruals and deferred income

3,745

3,745

Other creditors

2,722

3,463

41,565

104,930

Creditors: amounts falling due after more than one year

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,221

9,979

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

59

59

59

59

Ordinary B of £1 each

40

40

40

40

Ordinary C of £1 each

1

1

1

1

100

100

100

100

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

11,221

9,979

9

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £Nil (2023 - £1,750.00) per each Ordinary A

 

-

 

103,250

Interim dividend of £Nil (2023 - £100.00) per each Ordinary B

 

-

 

4,000

Interim dividend of £Nil (2023 - £45,000.00) per each Ordinary C

 

-

 

45,000

   

-

 

152,250

10

Related party transactions

 

Alistair Redhouse Estate Agents Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

42,734

50,429

Contributions paid to money purchase schemes

33,000

40,000

75,734

90,429