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Registered number: 11390951









REDTREE TOLWORTH (2018) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

 
REDTREE TOLWORTH (2018) LIMITED
REGISTERED NUMBER: 11390951

BALANCE SHEET
AS AT 31 MAY 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
1,200,000
1,200,000

Current assets
  

Debtors: amounts falling due within one year
 5 
24,226
70,822

Cash at bank and in hand
  
65,158
26,090

  
89,384
96,912

Creditors: amounts falling due within one year
 6 
(15,939)
(7,887)

Net current assets
  
 
 
73,445
 
 
89,025

Total assets less current liabilities
  
1,273,445
1,289,025

Creditors: amounts falling due after more than one year
 7 
(988,210)
(1,000,903)

Net assets
  
285,235
288,122


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
285,135
288,022

  
285,235
288,122


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
REDTREE TOLWORTH (2018) LIMITED
REGISTERED NUMBER: 11390951
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 October 2024.




P E Summers
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
REDTREE TOLWORTH (2018) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Redtree Tolworth (2018) Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is 62 Salisbury Road, Walmer, Deal, Kent, CT14 7QJ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

The Company's only source of revenue is rental income from investment properties let to third parties. Revenue is recognised in the accounting period in which the services are rendered.
Revenue represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the Company,  

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
REDTREE TOLWORTH (2018) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

Investment property

IInvestment property relates to the long leasehold interests. Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference inthe nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits repayable without penalty on notice. 

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The company only enters into basic financial instruments 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 and loans to relates parties.
Debt instruments (other than those wholly repayable or receviable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or recevied.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
REDTREE TOLWORTH (2018) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 June 2022
1,200,000



At 31 May 2023
1,200,000

The 2023 valuations are shown at cost as in the opinion of the directors the value is not materially different.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,200,000
1,200,000


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
9,799
9,799

Other debtors
2,766
48,790

Prepayments and accrued income
11,661
12,233

24,226
70,822



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,698
-

Corporation tax
-
2,675

Other creditors
6,941
1,956

Accruals and deferred income
3,300
3,256

15,939
7,887


Page 5

 
REDTREE TOLWORTH (2018) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
988,210
1,000,903



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,698
-

Amounts falling due 1-2 years

Bank loans
5,750
-

Amounts falling due 2-5 years

Bank loans
18,137
-

Amounts falling due after more than 5 years

Bank loans
964,323
1,000,903

993,908
1,000,903


Bank loans of £950,903 are secured against the assets to which they relate.


9.

Directors' benefits: advances, credits and guarantees

2023
2022
£
£
Balance brought forward

27,160

34,515
 
Total advances in the year

975

43,702
 
Total repayments in the year

(28,552)

(51,453)
 
Interest

417

396
 

-

27,160
 


10.


Related party transactions

At the year end £9,799 (2022 - £9,799) was owed to companies which have a participating interest in the company.  An amount of £97 was due to (£27,159 due from) a director.

Page 6

 
REDTREE TOLWORTH (2018) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

11.


Controlling party

In the opinion of the directors, the company's ultimate parent company is Redtree Ventures Limited, a company incorporated in England and Wales. The registered office is 62 Salisbury Road, Walmer, Deal, Kent, CT14 7QJ.

 
Page 7