29 September 2022 false No description of principal activity Taxfiler 2024.5 14384946business:PrivateLimitedCompanyLtd2022-09-292024-02-29 143849462022-09-28 143849462022-09-292024-02-29 14384946business:AuditExempt-NoAccountantsReport2022-09-292024-02-29 14384946business:FilletedAccounts2022-09-292024-02-29 143849462024-02-29 14384946business:Director12022-09-292024-02-29 14384946business:RegisteredOffice2022-09-292024-02-29 14384946core:WithinOneYear2024-02-29 14384946core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 14384946core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 14384946core:PreviouslyStatedAmount2024-02-29 14384946business:SmallEntities2022-09-292024-02-29 14384946countries:EnglandWales2022-09-292024-02-29 14384946core:WithinOneYear2022-09-292024-02-29 14384946business:OrdinaryShareClass12022-09-292024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 14384946 (England and Wales)
Redhill Ventures Ltd Unaudited accounts for the period from 29 September 2022 to 29 February 2024
Redhill Ventures Ltd Unaudited accounts Contents
Page
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Redhill Ventures Ltd Company Information for the period from 29 September 2022 to 29 February 2024
Director
Mr A Faig
Company Number
14384946 (England and Wales)
Registered Office
1 Rostrevor Avenue London N15 6LA
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Redhill Ventures Ltd Statement of financial position as at 29 February 2024
2024 
Notes
£ 
Fixed assets
Investment property
19,213,250 
Current assets
Debtors
1,112,835 
Cash at bank and in hand
27 
1,112,862 
Creditors: amounts falling due within one year
(20,359,104)
Net current liabilities
(19,246,242)
Net liabilities
(32,992)
Capital and reserves
Called up share capital
100 
Profit and loss account
(33,092)
Shareholders' funds
(32,992)
For the period ending 29 February 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 September 2024 and were signed on its behalf by
Mr A Faig Director Company Registration No. 14384946
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Redhill Ventures Ltd Notes to the Accounts for the period from 29 September 2022 to 29 February 2024
1
Statutory information
Redhill Ventures Ltd is a private company, limited by shares, registered in England and Wales, registration number 14384946. The registered office is 1 Rostrevor Avenue , London , N15 6LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is included at market 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.
Borrowing costs
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense.
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Redhill Ventures Ltd Notes to the Accounts for the period from 29 September 2022 to 29 February 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Investment property
2024 
£ 
Additions
19,213,250 
At 29 February 2024
19,213,250 
5
Debtors
2024 
£ 
Amounts falling due within one year
Other debtors
1,112,835 
6
Creditors: amounts falling due within one year
2024 
£ 
Bank loans and overdrafts
10,298,941 
VAT
156,024 
Trade creditors
9,600 
Other creditors
9,894,539 
20,359,104 
Other Creditors includes amounts aggregating £1,800,000 due to companies with a director in common with the this company.
7
Share capital
2024 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
Shares issued during the period:
100 Ordinary shares of £1 each
100 
8
Average number of employees
During the period the average number of employees was 0.
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