Registered number
14948079
Red Rum Properties Limited
Filleted Accounts
30 June 2024
Cross and Bowen
Chartered Certified Accountants
Riverside House
Normandy Road
Swansea
SA1 2JA
Red Rum Properties Limited
Registered number: 14948079
Balance Sheet
as at 30 June 2024
Notes 2024
£
Fixed assets
Investment properties 3 85,915
Current assets
Debtors 4 750
Cash at bank and in hand 18
768
Creditors: amounts falling due within one year 5 (88,691)
Net current liabilities (87,923)
Net liabilities (2,008)
Capital and reserves
Called up share capital (4)
Profit and loss account (2,004)
Shareholders' funds (2,008)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J. A. Jones
Director
Approved by the board on 17 March 2025
Red Rum Properties Limited
Notes to the Accounts
for the period from 20 June 2023 to 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024
Number
Average number of persons employed by the company 4
3 Investment properties 2024
£
Market Value
Additions 85,915
85,915
4 Debtors 2024
£
Other debtors 750
5 Creditors: amounts falling due within one year 2024
£
Other creditors 88,691
6 Other information
Red Rum Properties Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
Chittenden House
Heol Ddu
Ammanford
Wales
SA18 2UG
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