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REGISTERED NUMBER: 08312991 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st December 2023

for

Red Roofs Midlands Limited

Red Roofs Midlands Limited (Registered number: 08312991)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Roofs Midlands Limited

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mrs M J Daniel
R G Daniel
Mrs T J Hood
Ms H E Daniel





REGISTERED OFFICE: 1st Floor
28 Market Place
Grantham
Lincolnshire
NG31 6LR





REGISTERED NUMBER: 08312991 (England and Wales)





ACCOUNTANTS: Hood Parkes & Co
1st Floor
28 Market Place
Grantham
Lincolnshire
NG31 6LR

Red Roofs Midlands Limited (Registered number: 08312991)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 9,573
Tangible assets 5 98,699 81,903
Investments 6 509,084 509,084
607,783 600,560

CURRENT ASSETS
Debtors 7 86,467 106,961
Prepayments and accrued income 10,420 7,015
Cash at bank and in hand 306,775 210,998
403,662 324,974
CREDITORS
Amounts falling due within one year 8 191,552 169,969
NET CURRENT ASSETS 212,110 155,005
TOTAL ASSETS LESS CURRENT
LIABILITIES

819,893

755,565

PROVISIONS FOR LIABILITIES 26,158 18,531
NET ASSETS 793,735 737,034

CAPITAL AND RESERVES
Called up share capital 34 34
Retained earnings 793,701 737,000
SHAREHOLDERS' FUNDS 793,735 737,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

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 Roofs Midlands Limited (Registered number: 08312991)

Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 2nd September 2024 and were signed on its behalf by:





Ms H E Daniel - Director


Red Roofs Midlands Limited (Registered number: 08312991)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

Red Roofs Midlands Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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 Roofs Midlands Limited (Registered number: 08312991)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 95,727
AMORTISATION
At 1st January 2023 86,154
Amortisation for year 9,573
At 31st December 2023 95,727
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 9,573

Red Roofs Midlands Limited (Registered number: 08312991)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 175,839 4,858 180,697
Additions 62,794 5,324 68,118
Disposals (1,878 ) - (1,878 )
At 31st December 2023 236,755 10,182 246,937
DEPRECIATION
At 1st January 2023 92,957 5,837 98,794
Charge for year 49,988 1,086 51,074
Eliminated on disposal (1,630 ) - (1,630 )
At 31st December 2023 141,315 6,923 148,238
NET BOOK VALUE
At 31st December 2023 95,440 3,259 98,699
At 31st December 2022 82,882 (979 ) 81,903

6. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1st January 2023
and 31st December 2023 509,084

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 25,402 25,896
Other debtors 61,065 81,065
86,467 106,961

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 43,231 33,406
Taxation and social security 61,905 50,055
Other creditors 86,416 86,508
191,552 169,969

Red Roofs Midlands Limited (Registered number: 08312991)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs M J Daniel.