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REGISTERED NUMBER: 08799891 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

RED TOP PROPERTIES LIMITED

RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)






Contents of the Financial Statements
for the year ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED TOP PROPERTIES LIMITED

Company Information
for the year ended 31 December 2021







DIRECTOR: S L Bray





REGISTERED OFFICE: 39 Summerfields Avenue
Hailsham
East Sussex
BN27 3BS





REGISTERED NUMBER: 08799891 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Investment property 4 1,607,611 1,544,077

CURRENT ASSETS
Debtors 5 288,259 194,168
Cash at bank and in hand 47,949 480
336,208 194,648
CREDITORS
Amounts falling due within one year 6 (681,291 ) (641,310 )
NET CURRENT LIABILITIES (345,083 ) (446,662 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,262,528

1,097,415

CREDITORS
Amounts falling due after more than one
year

7

(1,286,738

)

(1,153,853

)

PROVISIONS FOR LIABILITIES 9 (15,883 ) -

ACCRUALS AND DEFERRED INCOME - (2,880 )
NET LIABILITIES (40,093 ) (59,318 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Other reserves 47,650 -
Retained earnings (87,744 ) (59,319 )
SHAREHOLDERS' FUNDS (40,093 ) (59,318 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Balance Sheet - continued
31 December 2021


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 director and authorised for issue on 12 January 2025 and were signed by:





S L Bray - Director


RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Notes to the Financial Statements
for the year ended 31 December 2021

1. STATUTORY INFORMATION

Red Top Properties 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.

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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
On transition to FRS 102 the entity's accounting policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Turnover represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Turnover represents the fair value of consideration received or receivable net of VAT and rental income is recognised on an accruals basis.

RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 1,544,077
Revaluations 63,534
At 31 December 2021 1,607,611
NET BOOK VALUE
At 31 December 2021 1,607,611
At 31 December 2020 1,544,077

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 63,534
Cost 1,544,077
1,607,611

Investment property was valued on an open market basis on 31 December 2021 by the director S Bray .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Amounts owed by group undertakings - 56,449
Other debtors 288,259 137,719
288,259 194,168

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 3,062 -
Trade creditors 2,883 1
Amounts owed to group undertakings - 595,688
Taxation and social security 53,268 33,780
Other creditors 622,078 11,841
681,291 641,310

RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 47,250 50,000
Other creditors 1,239,488 1,103,853
1,286,738 1,153,853

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 1,037,476 1,103,853

Repayable by instalments
Bank loans more 5 yr by instal 21,913 -
Other loans > 5yrs 136,568 -
158,481 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Other loans 83,795 -
Mortgages 1,174,044 -
1,257,839 -

Fixed charges, floating charges and negative pledges are held in respect of the above loans.

9. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 15,883 -

Deferred
tax
£   
Provided during year 15,883
Balance at 31 December 2021 15,883

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
1 Ordinary 1 1 1

RED TOP PROPERTIES LIMITED (REGISTERED NUMBER: 08799891)

Notes to the Financial Statements - continued
for the year ended 31 December 2021

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
S L Bray
Balance outstanding at start of year 103,939 -
Amounts advanced 100,792 103,939
Amounts repaid (40,828 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 163,903 103,939

12. RELATED PARTY DISCLOSURES

Red Top Limited [A company under common control]
As at 31/12/2021 £301,153 (2020: £342,848) was owed by Red Top Properties Limited.

Red Top Commercial Investments Limited [A company under common control]
As at 31/12/2021 £6,040 (2020: £nil) was owed by Red Top Properties Limited.

Red Top Group (Sussex) Limited [A company under common control]
As at 31/12/2021 £58,176 (2020: £66,823) was owed by Red Top Properties Limited.

Red Top Investments Limited [A company under common control]
At 31/12/2021 £57,890 (2020: £56,449) was due to Red Top Properties Limited.

Red Top Lettings Limited [A company under common control]
As at 31/12/2021 £176,984 (2020: £127,277) was owed by Red Top Properties Limited.

Block & Property Managment Solutions Limited [A company under common control]
As at 31/12/2021 £30,040 (2020: £29,363) was owed by Red Top Properties Limited.