0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-05 Sage Accounts Production Advanced 2023 - FRS102_2023 135,310 135,310 135,310 xbrli:pure xbrli:shares iso4217:GBP 14849828 2023-05-05 2024-05-31 14849828 2024-05-31 14849828 2023-05-04 14849828 bus:OrdinaryShareClass1 2023-05-05 2024-05-31 14849828 bus:OrdinaryShareClass2 2023-05-05 2024-05-31 14849828 bus:OrdinaryShareClass3 2023-05-05 2024-05-31 14849828 bus:OrdinaryShareClass4 2023-05-05 2024-05-31 14849828 bus:Director1 2023-05-05 2024-05-31 14849828 bus:Director2 2023-05-05 2024-05-31 14849828 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-05 2024-05-31 14849828 core:WithinOneYear 2024-05-31 14849828 core:AfterOneYear 2024-05-31 14849828 core:ShareCapital 2024-05-31 14849828 core:RetainedEarningsAccumulatedLosses 2024-05-31 14849828 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 14849828 bus:SmallEntities 2023-05-05 2024-05-31 14849828 bus:AuditExempt-NoAccountantsReport 2023-05-05 2024-05-31 14849828 bus:SmallCompaniesRegimeForAccounts 2023-05-05 2024-05-31 14849828 bus:PrivateLimitedCompanyLtd 2023-05-05 2024-05-31 14849828 bus:FullAccounts 2023-05-05 2024-05-31 14849828 bus:OrdinaryShareClass1 2024-05-31 14849828 bus:OrdinaryShareClass2 2024-05-31 14849828 bus:OrdinaryShareClass3 2024-05-31 14849828 bus:OrdinaryShareClass4 2024-05-31 14849828 bus:AllOrdinaryShares 2024-05-31
COMPANY REGISTRATION NUMBER: 14849828
RED CHAIR HOMES LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
RED CHAIR HOMES LTD
STATEMENT OF FINANCIAL POSITION
31 May 2024
31 May 24
Note
£
Fixed assets
Tangible assets
4
135,310
Current assets
Debtors
5
800
Cash at bank and in hand
1,500
-------
2,300
Creditors: amounts falling due within one year
6
49,166
--------
Net current liabilities
46,866
---------
Total assets less current liabilities
88,444
Creditors: amounts falling due after more than one year
7
91,709
--------
Net liabilities
( 3,265)
--------
Capital and reserves
Called up share capital
8
100
Profit and loss account
( 3,365)
-------
Shareholders deficit
( 3,265)
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RED CHAIR HOMES LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 3 February 2025 , and are signed on behalf of the board by:
Mr A Beales
Mrs L Beales
Director
Director
Company registration number: 14849828
RED CHAIR HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 5 MAY 2023 TO 31 MAY 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Old Mill, Blisworth Hill Farm, Stoke Road, Blisworth, Northampton, NN7 3DB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of rent receivable.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Freehold property
£
Cost
At 5 May 2023
Additions
135,310
---------
At 31 May 2024
135,310
---------
Depreciation
At 5 May 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
135,310
---------
Included within the above is investment property as follows:
£
At 5 May 2023
Additions
135,310
---------
At 31 May 2024
135,310
---------
The investment property was purchased in September 2023. The directors do not consider there to have been any material change in value at the balance sheet date to that when the property was purchased.
5. Debtors
31 May 24
£
Other debtors
800
----
6. Creditors: amounts falling due within one year
31 May 24
£
Bank loans and overdrafts
3,931
Other creditors
45,235
--------
49,166
--------
7. Creditors: amounts falling due after more than one year
31 May 24
£
Bank loans and overdrafts
91,709
--------
Included within creditors: amounts falling due after more than one year is an amount of £75,988 in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The mortgage term is 25 years and the interest rate is 5.14%.
8. Called up share capital
Issued, called up and fully paid
31 May 24
No.
£
Ordinary A shares of £ 1 each
45
45
Ordinary B shares of £ 1 each
45
45
Ordinary C shares of £ 1 each
5
5
Ordinary D shares of £ 1 each
5
5
----
----
100
100
----
----