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REGISTERED NUMBER: 11086655 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

REDFISH PROPERTIES LTD

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDFISH PROPERTIES LTD

Company Information
for the Year Ended 30 November 2023







DIRECTORS: L D Redland
D Redland





REGISTERED OFFICE: 4 Cadbury Close
Northway House
1379 High Road
whetstone
London
N20 9BD





REGISTERED NUMBER: 11086655 (England and Wales)





ACCOUNTANTS: J.D. Bregman & Co Limited
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Investment property 4 145,044 145,044

CURRENT ASSETS
Debtors 5 4,800 427,720
Cash at bank and in hand 1,812 10,986
6,612 438,706
CREDITORS
Amounts falling due within one year 6 (199,324 ) (195,569 )
NET CURRENT (LIABILITIES)/ASSETS (192,712 ) 243,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,668

)

388,181

CREDITORS
Amounts falling due after more than one
year

7

-

(385,701

)
NET (LIABILITIES)/ASSETS (47,668 ) 2,480

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (47,768 ) 2,380
SHAREHOLDERS' FUNDS (47,668 ) 2,480

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

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

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Balance Sheet - continued
30 November 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 30 October 2024 and were signed on its behalf by:





L D Redland - Director


REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Redfish Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 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 where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rent receivable in respect of the company's investment properties. Rental income is recognised over the period of the rental agreement.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognized in the profit and loss account.

The company's 10% beneficial interest in a leasehold property jointly held with the pension fund is considered by the director to be an extension of their trade and accordingly the income, expenses, assets and liabilities of the joint venture are combined with that of the company.

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and
preference shares that are classified as debt, 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 future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.


REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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.

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.

Going concern
The directors have considered the company's financial resources and performance and believe that the company is well placed to manage its business risks successfully and that the company has adequate resources to continue in operational existence for the foreseeable future. Consequently, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 145,044
NET BOOK VALUE
At 30 November 2023 145,044
At 30 November 2022 145,044

The cost of the property represents the company's beneficial interest of 10% in a leasehold property jointly held with the pension fund which holds the remaining 90% interest.

The directors consider the fair value of the interest in the property to be £145,044 at the year end.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors - 408,568
Accrued income 4,800 5,600
Prepayments - 13,552
4,800 427,720

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 8) - 20,640
Tax - 595
Social security and other taxes 1,469 -
Other creditors 14,325 169,384
Directors' current accounts 180,230 -
Accruals and deferred income - 4,950
Accrued expenses 3,300 -
199,324 195,569

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 8) - 385,701

8. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 20,640

Amounts falling due between two and five years:
Bank loans - 2-5 years - 385,701

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans - 406,341

The bank loan is secured over the investment property to which it relates and carries an interest rate of 3.94% per annum.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary shares £1 100 100

REDFISH PROPERTIES LTD (REGISTERED NUMBER: 11086655)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. RELATED PARTY DISCLOSURES

Included within creditors amount falling due within one year is an amount of £Nil (2022: £163,763) due to a related party.

During the year, the company received rent amounting to £9,200 (2022: £9,200) from a related company.