Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseOther accommodation1010falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11865437 2023-04-01 2024-03-31 11865437 2022-04-01 2023-03-31 11865437 2024-03-31 11865437 2023-03-31 11865437 c:Director1 2023-04-01 2024-03-31 11865437 d:MotorVehicles 2023-04-01 2024-03-31 11865437 d:MotorVehicles 2024-03-31 11865437 d:MotorVehicles 2023-03-31 11865437 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11865437 d:FurnitureFittings 2023-04-01 2024-03-31 11865437 d:FurnitureFittings 2024-03-31 11865437 d:FurnitureFittings 2023-03-31 11865437 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11865437 d:ComputerEquipment 2023-04-01 2024-03-31 11865437 d:ComputerEquipment 2024-03-31 11865437 d:ComputerEquipment 2023-03-31 11865437 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11865437 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11865437 d:CurrentFinancialInstruments 2024-03-31 11865437 d:CurrentFinancialInstruments 2023-03-31 11865437 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11865437 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11865437 d:ShareCapital 2024-03-31 11865437 d:ShareCapital 2023-03-31 11865437 d:RetainedEarningsAccumulatedLosses 2024-03-31 11865437 d:RetainedEarningsAccumulatedLosses 2023-03-31 11865437 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 11865437 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 11865437 c:FRS102 2023-04-01 2024-03-31 11865437 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11865437 c:FullAccounts 2023-04-01 2024-03-31 11865437 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11865437 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11865437









REDS HOUSING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
REDS HOUSING LTD
REGISTERED NUMBER: 11865437

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
93,422
52,411

  
93,422
52,411

Current assets
  

Debtors: amounts falling due within one year
 5 
814,116
814,050

Cash at bank and in hand
 6 
119,745
186,233

  
933,861
1,000,283

Creditors: amounts falling due within one year
 7 
(938,694)
(1,004,840)

Net current liabilities
  
 
 
(4,833)
 
 
(4,557)

Total assets less current liabilities
  
88,589
47,854

  

Net assets
  
88,589
47,854


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
88,489
47,754

  
88,589
47,854


Page 1

 
REDS HOUSING LTD
REGISTERED NUMBER: 11865437
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 December 2024.




Khaliq Zaman Khan
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Reds Housing Ltd is a company limited by shares incorporated in England within the United Kingdom, having a registration of 11865437. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham B16 8SP. The principal activity of the company in the year under review was that of other accommodation.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 3

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model 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 cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
10%
Fixtures and fittings
-
10%
Computer equipment
-
10%

The assets' 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 or loss.

Page 5

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 6

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
5,000
47,917
9,845
62,762


Additions
-
37,992
13,400
51,392



At 31 March 2024

5,000
85,909
23,245
114,154



Depreciation


At 1 April 2023
2,165
6,173
2,013
10,351


Charge for the year on owned assets
284
7,974
2,123
10,381



At 31 March 2024

2,449
14,147
4,136
20,732



Net book value



At 31 March 2024
2,551
71,762
19,109
93,422



At 31 March 2023
2,835
41,744
7,832
52,411


5.


Debtors

2024
2023
£
£


Other debtors
1,000
1,000

Prepayments and accrued income
811,957
811,957

Deferred taxation
1,159
1,093

814,116
814,050



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
119,745
186,233

119,745
186,233


Page 7

 
REDS HOUSING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
210
3,104

Other creditors
938,484
1,001,736

938,694
1,004,840



8.


Deferred taxation




2024


£






At beginning of year
1,093


Charged to profit or loss
66



At end of year
1,159

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
1,159
1,093

1,159
1,093


9.


Controlling party

During the period, the company was under the control of its sole director and shareholder, Mr K Z Khan.


10.


Contribution to a remuneration trust

During the period, the company made a contribution in the accounting period to a remuneration trust in the amount of £1,000,000 (2023: £600,000). The terms of the trust are set out in a trust deed executed by the company and the original trustees.

 
Page 8