2023-01-012023-12-312023-12-31false13725350RED DOOR ESCAPES 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RED DOOR ESCAPES LIMITED

Registered Number
13725350
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

RED DOOR ESCAPES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

DENBY, Peter Jonathan
NICOLSON, Margaret Anne

Registered Address

6 Station Road
Hest Bank
Lancaster
LA2 6HP

Registered Number

13725350 (England and Wales)
RED DOOR ESCAPES LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets32,410,117914,629
2,410,117914,629
Current assets
Debtors4174,87760,585
Current asset investments52,150,000-
Cash at bank and on hand5,654201,034
2,330,531261,619
Creditors amounts falling due within one year6(1,236,140)(882,073)
Net current assets (liabilities)1,094,391(620,454)
Total assets less current liabilities3,504,508294,175
Creditors amounts falling due after one year7(312,119)(359,736)
Net assets3,192,389(65,561)
Capital and reserves
Called up share capital2,150,100100
Profit and loss account1,042,289(65,661)
Shareholders' funds3,192,389(65,561)
The financial statements were approved and authorised for issue by the Board of Directors on 13 August 2024, and are signed on its behalf by:
DENBY, Peter Jonathan
Director
Registered Company No. 13725350
RED DOOR ESCAPES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Fixtures and fittings15-
Vehicles20-
Investments
Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary share.
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 23821,702-106,584928,286
Additions1,075,21212,000478,4711,565,683
At 31 December 231,896,91412,000585,0552,493,969
Depreciation and impairment
At 01 January 2312,325-1,33213,657
Charge for year17,9811,60050,61470,195
At 31 December 2330,3061,60051,94683,852
Net book value
At 31 December 231,866,60810,400533,1092,410,117
At 31 December 22809,377-105,252914,629
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables13,479-
Other debtors161,39860,585
Total174,87760,585
5.Current asset investments
£2,150,000 of share capital issued on 19 December 2023.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables12,47416,696
Bank borrowings and overdrafts37,83928,061
Amounts owed to related parties1,185,827837,316
Total1,236,140882,073
Bank loans are secured by a fixed and floating charge over the company's assets.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts312,119359,736
Total312,119359,736
Bank loans are secured by a fixed and floating charge over the company's assets. Bank loans outstanding at the year end include instalments due after more than 5 years of £160,762 (2022: £247,491).
8.Provisions for liabilities
9.Exceptional items
During the year there was an intercompany write off of £273,802 (2022 - £nil), this is showing as a credit within administrative expenses. During they year there was also a dividend received of £1,075,211 (2022 - £nil).