2024-03-012025-02-282025-02-28false13214340RED PANDA RENTS 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RED PANDA RENTS LIMITED

Registered Number
13214340
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2025

RED PANDA RENTS LIMITED
Company Information
for the year from 1 March 2024 to 28 February 2025

Directors

CURTIS, Lucy Emma
CURTIS, Thomas Andrew

Registered Address

11 Rectory Lane
Barby
Rugby
CV23 8TZ

Registered Number

13214340 (England and Wales)
RED PANDA RENTS LIMITED
Balance Sheet as at
28 February 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Investment property3144,000130,102
144,000130,102
Current assets
Debtors44539
Cash at bank and on hand1,9493,580
1,9943,619
Creditors amounts falling due within one year5(78,995)(78,571)
Net current assets (liabilities)(77,001)(74,952)
Total assets less current liabilities66,99955,150
Creditors amounts falling due after one year6(49,410)(50,883)
Provisions for liabilities7(2,641)-
Net assets14,9484,267
Capital and reserves
Called up share capital100100
Profit and loss account14,8484,167
Shareholders' funds14,9484,267
The financial statements were approved and authorised for issue by the Board of Directors on 8 March 2025, and are signed on its behalf by:
CURTIS, Lucy Emma
Director
Registered Company No. 13214340
RED PANDA RENTS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102. The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.Average number of employees

20252024
Average number of employees during the year22
3.Investment property
The property was revalued during the year.

£
Fair value at 01 March 24130,102
Fair value adjustments13,898
At 28 February 25144,000
4.Debtors: amounts due within one year

2025

2024

££
Prepayments and accrued income4539
Total4539
5.Creditors: amounts due within one year

2025

2024

££
Bank borrowings and overdrafts1,5981,508
Taxation and social security568235
Other creditors76,42976,429
Accrued liabilities and deferred income400399
Total78,99578,571
6.Creditors: amounts due after one year

2025

2024

££
Bank borrowings and overdrafts49,41050,883
Total49,41050,883
7.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)2,641-
Total2,641-