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REGISTERED NUMBER: 05962858 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Red Rose Property Sales & Lettings
Limited

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Rose Property Sales & Lettings
Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: Mr G Dyer
Mr D Dyer





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 05962858 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Balance Sheet
31st March 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,750 10,750
Tangible assets 5 27,118 34,957
34,868 45,707

CURRENT ASSETS
Debtors 6 6,761 1,398
Cash at bank 208,217 133,086
214,978 134,484
CREDITORS
Amounts falling due within one year 7 68,282 47,108
NET CURRENT ASSETS 146,696 87,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

181,564

133,083

PROVISIONS FOR LIABILITIES 6,485 4,753
NET ASSETS 175,079 128,330

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 174,929 128,180
SHAREHOLDERS' FUNDS 175,079 128,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Balance Sheet - continued
31st March 2024


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 1st November 2024 and were signed on its behalf by:





Mr G Dyer - Director


Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Red Rose Property Sales & Lettings Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 10% on reducing balance

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.

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.

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 60,000
AMORTISATION
At 1st April 2023 49,250
Charge for year 3,000
At 31st March 2024 52,250
NET BOOK VALUE
At 31st March 2024 7,750
At 31st March 2023 10,750

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2023 10,182 95,794 105,976
Disposals - (17,025 ) (17,025 )
At 31st March 2024 10,182 78,769 88,951
DEPRECIATION
At 1st April 2023 10,182 60,837 71,019
Charge for year - 3,013 3,013
Eliminated on disposal - (12,199 ) (12,199 )
At 31st March 2024 10,182 51,651 61,833
NET BOOK VALUE
At 31st March 2024 - 27,118 27,118
At 31st March 2023 - 34,957 34,957

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 5,363 -
Other debtors 1,398 1,398
6,761 1,398

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Taxation and social security 64,709 34,572
Other creditors 3,573 12,536
68,282 47,108

8. LEASING AGREEMENTS
The company has an annual lease commitment that expires in July 2028 of £24,750.

Red Rose Property Sales & Lettings
Limited (Registered number: 05962858)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
as restated
£    £   
Mr D Dyer
Balance outstanding at start of year - 15,750
Amounts repaid - (15,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.