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Registration number: 12909621

Red Peanut Limited

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 29 September 2023

 

Red Peanut Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Red Peanut Limited

(Registration number: 12909621)
Balance Sheet as at 29 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

382,341

381,991

Current assets

 

Debtors

5

6,223

802

Cash at bank and in hand

 

5,113

1,767

 

11,336

2,569

Creditors: Amounts falling due within one year

6

(83,057)

(126,020)

Net current liabilities

 

(71,721)

(123,451)

Total assets less current liabilities

 

310,620

258,540

Creditors: Amounts falling due after more than one year

6

(322,326)

(273,000)

Net liabilities

 

(11,706)

(14,460)

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

(11,710)

(14,464)

Shareholders' deficit

 

(11,706)

(14,460)

For the financial period ending 29 September 2023 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 period 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.

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 24 September 2024 and signed on its behalf by:
 

.........................................
Dr I A Khan
Director

 

Red Peanut Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

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:
1st Floor, Block C
The Wharf
Manchester Road
Burnley
Lancashire
BB11 1JG

These financial statements were authorised for issue by the Board on 24 September 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 company relies on the continuing support of the directors, and the directors have indicated that this support will continue. On this basis, the directors consider it appropriate to prepare the financial statements 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.

 

Red Peanut Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

Investment property

The company's property is held for long-term investment. Investment properties are accounted for in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), as follows:

No depreciation is provided in respect of investment properties. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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

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.

 

Red Peanut Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2022 - 0).

4

Investment properties

2023
£

At 1 October

381,991

Additions

350

At 29 September

382,341

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Other debtors

6,223

802

6,223

802

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

25,492

Accruals and deferred income

 

2,160

1,080

Other creditors

 

80,897

99,448

 

83,057

126,020

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

322,326

273,000

Creditors include loans not repayable by instalments of £322,326 (2022 - £273,000) due after more than 5 years

 

Red Peanut Limited

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 29 September 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

322,326

273,000

Current loans and borrowings

2023
£

2022
£

Other borrowings

-

25,492

9

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

99,448

99,448

Repaid

(18,551)

(18,551)

At end of period

80,897

80,897

2022

Parent
£

Total
£

Advanced

99,448

99,448

At end of period

99,448

99,448