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REGISTERED NUMBER: 02948365 (England and Wales)











REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024










Page

Company Information 1

Abridged Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mrs M Redfern
Mr R E Redfern



SECRETARY: Mrs M Redfern



REGISTERED OFFICE: Heritage House
Murton Way
Osbaldwick
York
North Yorkshire
YO19 5UW



REGISTERED NUMBER: 02948365 (England and Wales)



ACCOUNTANTS: UHY Calvert Smith
Chartered Accountants
Heritage House
Murton Way
Osbaldwick
York
YO19 5UW



BANKERS: HSBC
13 Parliament Street
York
YO1 8XS

REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 575,455 572,066
Investment property 5 3,412,317 3,412,317
3,987,772 3,984,383

CURRENT ASSETS
Debtors 53,958 40,430
Cash at bank 732,953 631,273
786,911 671,703
CREDITORS
Amounts falling due within one year 124,584 83,061
NET CURRENT ASSETS 662,327 588,642
TOTAL ASSETS LESS CURRENT LIABILITIES 4,650,099 4,573,025

PROVISIONS FOR LIABILITIES 329,455 329,617
NET ASSETS 4,320,644 4,243,408

CAPITAL AND RESERVES
Called up share capital 428,423 428,423
Capital redemption reserve 50,190 50,190
Grant reserve 137,800 137,800
Retained earnings
(non-distributable) 1,387,768 1,387,768
Retained earnings 2,316,463 2,239,227
SHAREHOLDERS' FUNDS 4,320,644 4,243,408

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

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

REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





Mrs M Redfern - Director


REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


1. STATUTORY INFORMATION

Redfern Developments & Investments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental and related income derived from the investment properties held by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 15% on reducing balance
Computer equipment - Straight line over 3 years

The freehold property is under development, and will in due course be reclassified as an investment property. Depreciation is therefore not provided on the property.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains and losses arising from changes in the fair value of investment properties are included in the Profit and Loss Account and Retained Earnings in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


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
Pension costs represent contributions made by the company to directors' personal defined contribution pension scheme. Contributions payable are charged in the profit and loss account in the period to which they relate.

Government grants
Government grants received in respect of expenditure on freehold investment property are included in creditors due after more than one year. The grants remain as a deferred income balance and are only recognised in the profit and loss account when the property to which they relate is sold. The grants are then brought into the calculation of the profit or loss on sale. Grants received that are no longer repayable will be recognised in grant reserves via the statement of total recognised gains and losses. This is a non-distributable reserve until the property to which the grant relates is sold at which point the gains and losses can be transferred to the profit and loss account reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 October 2023 606,299
Additions 4,014
At 30 September 2024 610,313
DEPRECIATION
At 1 October 2023 34,233
Charge for year 625
At 30 September 2024 34,858
NET BOOK VALUE
At 30 September 2024 575,455
At 30 September 2023 572,066

REDFERN DEVELOPMENTS & INVESTMENTS
LIMITED (REGISTERED NUMBER: 02948365)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 3,412,317
NET BOOK VALUE
At 30 September 2024 3,412,317
At 30 September 2023 3,412,317

The investment properties are included at the directors' assessment of market value.

The amount credited to the Profit and Loss Account in respect of fair value adjustments in the year was £Nil (2023: £119,059).