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Registered number: 08732474
Red House Farm (Manston) Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mr Guy Wilson
Mrs Helen Wilson
Secretary Mr Guy Wilson
Company Number 08732474
Registered Office Red House Farm
Manston Court Road
Margate
Kent
CT9 4LE
Accountants G R Wilson & Co
Chartered Certified Accountants
Red House Farm
Manston Court Road
Margate
Kent
CT9 4LE
Page 1
Page 2
Balance Sheet
Registered number: 08732474
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,822 34,896
17,822 34,896
CURRENT ASSETS
Stocks 5 3,640,000 3,640,000
Debtors 6 - 95
Cash at bank and in hand 10,310 1,411
3,650,310 3,641,506
Creditors: Amounts Falling Due Within One Year 7 (309,286 ) (325,843 )
NET CURRENT ASSETS (LIABILITIES) 3,341,024 3,315,663
TOTAL ASSETS LESS CURRENT LIABILITIES 3,358,846 3,350,559
Creditors: Amounts Falling Due After More Than One Year 8 (899,609 ) (901,807 )
NET ASSETS 2,459,237 2,448,752
CAPITAL AND RESERVES
Called up share capital 9 2,620,000 2,620,000
Profit and Loss Account (160,763 ) (171,248 )
SHAREHOLDERS' FUNDS 2,459,237 2,448,752
Page 2
Page 3
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Guy Wilson
Director
05/04/2024
The notes on pages 5 to 7 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 2,620,000 (134,707 ) 2,485,293
Loss for the year and total comprehensive income - (36,541 ) (36,541)
As at 31 March 2023 and 1 April 2023 2,620,000 (171,248 ) 2,448,752
Profit for the year and total comprehensive income - 10,485 10,485
As at 31 March 2024 2,620,000 (160,763 ) 2,459,237
No additional shares were issued during the year
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Red House Farm (Manston) Developments Limited, incorporated in England and Wales, Registered Number 08732474 has its registered office at Red House Farm, Margate CT9 4LE
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The preparation of the financial statements may require judgments, estimates and assumptions to be made by the directors concerning the future in the uncertain times in which every company is operating in the midst of a global pandemic known as Covid-19. 
2.2. Turnover
Turnover is measured at the value of the consideration received on the disposal of land or real estate in the portfolio of the company. 
Rental income is derived from the company's motor haome and caravan storage site in Margate and its property interests in Sevenoaks with one apartment being rented out on an assured shorthold tenancy agreement and two aprtments being used for holiday lettings.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Shown at cost
Leasehold Shown at cost
Plant & Machinery Straight line
Motor Vehicles Straight line
Fixtures & Fittings Straight line
Computer Equipment Straight line
2.4. Stocks and Work in Progress
The Stock and Work in Progress are valued at the lower of cost and net realisable value and consist of development land and other real estate.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2
2024 2023
Directors 2 2
2 2
Page 5
Page 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 23,967 31,845 567 56,379
Additions - 2,294 - 2,294
As at 31 March 2024 23,967 34,139 567 58,673
Depreciation
As at 1 April 2023 10,301 10,615 567 21,483
Provided during the period 7,988 11,380 - 19,368
As at 31 March 2024 18,289 21,995 567 40,851
Net Book Value
As at 31 March 2024 5,678 12,144 - 17,822
As at 1 April 2023 13,666 21,230 - 34,896
5. Stocks
2024 2023
£ £
Stock - Property assets 3,640,000 3,640,000
6. Debtors
2024 2023
£ £
Due within one year
VAT - 1,605
- 1,605
Due after more than one year
Sundry debtors - (1,510 )
- (1,510 )
- 95
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
VAT 806 -
GRW loan (Current liabilities - creditors < 1 year) - 1
Duke Street Estates Ltd 290,502 299,609
Accruals and deferred income 3,000 6,005
Directors' loan accounts 14,978 20,228
309,286 325,843
Page 6
Page 7
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Duke Street Estates Limited 620,091 620,091
J Ballantyne Limited 113,752 114,573
C. G. Wilson Loan Account 106,400 110,400
G. R. Wilson Loan Account 59,366 56,743
899,609 901,807
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
460,000 Ordinary Shares of £ 1.000 each 460,000 460,000
Preference Shares
2024 2023
Allotted, called up and fully paid £ £
2,160,000 Preference Shares of £ 1.000 each 2,160,000 2,160,000
Page 7