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REGISTERED NUMBER: 08220614 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

REDCASTLE LETTINGS LTD

REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDCASTLE LETTINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: Altaf I Patel
Mrs Shamim Patel





REGISTERED OFFICE: 364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY





REGISTERED NUMBER: 08220614 (England and Wales)





ACCOUNTANTS: Prestons
Chartered Accountants
364-368 Cranbrook Road
Gants Hill
Ilford
Essex
IG2 6HY

REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

BALANCE SHEET
30 SEPTEMBER 2023

30.9.23 30.9.22
Notes £    £   
CURRENT ASSETS
Debtors 5 102,220 98,095
Investments 6 190,000 190,000
Cash at bank 94,793 70,821
387,013 358,916
CREDITORS
Amounts falling due within one year 7 271,525 215,926
NET CURRENT ASSETS 115,488 142,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,488

142,990

CREDITORS
Amounts falling due after more than one
year

8

40,975

42,630
NET ASSETS 74,513 100,360

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 74,413 100,260
SHAREHOLDERS' FUNDS 74,513 100,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

BALANCE SHEET - continued
30 SEPTEMBER 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 27 June 2024 and were signed on its behalf by:





Altaf I Patel - Director


REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Redcastle Lettings Ltd 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 includes revenue earned from the sale of goods and from the rendering of services. . Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the costs of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Furniture & fixtures - 25% Straight Line


The asset's 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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit and loss.

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.


REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 1,702 500 2,202
DEPRECIATION
At 1 October 2022
and 30 September 2023 1,702 500 2,202
NET BOOK VALUE
At 30 September 2023 - - -
At 30 September 2022 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Other debtors 102,220 98,095

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. CURRENT ASSET INVESTMENTS
30.9.23 30.9.22
£    £   
Listed investments 190,000 190,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Tax 16,769 12,619
Other creditors 248,826 168,809
Directors' current accounts 3,480 818
Accrued expenses 2,450 33,680
271,525 215,926

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the suture payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less and impairment.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans - 2-5 years 40,975 42,630

This is an unsecured bounce back loan with interest charged at 2.5% for year two.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
100 Share Capital 1 100 100

REDCASTLE LETTINGS LTD (REGISTERED NUMBER: 08220614)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10. RESERVES
Retained
earnings
£   

At 1 October 2022 100,260
Profit for the year 45,153
Dividends (71,000 )
At 30 September 2023 74,413

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
Altaf I Patel
Balance outstanding at start of year (818 ) (23,282 )
Amounts advanced 91,192 48,449
Amounts repaid (93,854 ) (25,985 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,480 ) (818 )