REGISTERED NUMBER: |
REDFERN DEVELOPMENTS & INVESTMENTS |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Heritage House |
Murton Way |
Osbaldwick |
York |
YO19 5UW |
BANKERS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Grant reserve |
Retained earnings |
(non-distributable) |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental and related income derived from the investment properties held by the company. |
Tangible fixed assets |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
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 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
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). |