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Company No: 04486257 (England and Wales)

RED HOUSE PROPERTY INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RED HOUSE PROPERTY INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RED HOUSE PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
RED HOUSE PROPERTY INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
Directors Beverley Jayne Beveridge
Graham Richard Floyd Beveridge
Secretary Beverley Jayne Beveridge
Registered office 2nd Floor
Maritime Place Quayside
Chatham Maritime
Chatham
ME4 4QZ
United Kingdom
Company number 04486257 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
Bankers NatWest
63 Piccadilly
London
W1A 2AG

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RED HOUSE PROPERTY INVESTMENTS LIMITED

For the financial year ended 30 September 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF RED HOUSE PROPERTY INVESTMENTS LIMITED (continued)

For the financial year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red House Property Investments Limited for the financial year ended 30 September 2024 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Red House Property Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red House Property Investments Limited. You consider that Red House Property Investments Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Red House Property Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Red House Property Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Red House Property Investments Limited and state those matters that we have agreed to state to the Board of Directors of Red House Property Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red House Property Investments Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

2nd Floor, Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ

17 April 2025

RED HOUSE PROPERTY INVESTMENTS LIMITED

BALANCE SHEET

As at 30 September 2024
RED HOUSE PROPERTY INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 426,838 410,475
Investments 500 500
427,338 410,975
Current assets
Debtors 5 542 455
Investments 6,500 6,500
Cash at bank and in hand 6 22,647 13,089
29,689 20,044
Creditors: amounts falling due within one year 7 ( 20,036) ( 17,452)
Net current assets 9,653 2,592
Total assets less current liabilities 436,991 413,567
Provision for liabilities ( 7,105) ( 3,105)
Net assets 429,886 410,462
Capital and reserves
Called-up share capital 8 345,000 345,000
Revaluation reserve 41,951 29,951
Profit and loss account 42,935 35,511
Total shareholders' funds 429,886 410,462

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Red House Property Investments Limited (registered number: 04486257) were approved and authorised for issue by the Board of Directors on 17 April 2025. They were signed on its behalf by:

Graham Richard Floyd Beveridge
Director
RED HOUSE PROPERTY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RED HOUSE PROPERTY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Red House Property Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor, Maritime Place Quayside, Chatham Maritime, Chatham, ME4 4QZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises rental income receivable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Ordinary A shares 1,000 6,000

4. Tangible assets

Investment property Office equipment Total
£ £ £
Cost
At 01 October 2023 410,000 1,186 411,186
Additions 0 750 750
Revaluations 16,000 0 16,000
At 30 September 2024 426,000 1,936 427,936
Accumulated depreciation
At 01 October 2023 0 711 711
Charge for the financial year 0 387 387
At 30 September 2024 0 1,098 1,098
Net book value
At 30 September 2024 426,000 838 426,838
At 30 September 2023 410,000 475 410,475

Investment properties

Investment properties, which are all freehold, were revalued to fair value at 30 September 2024, based on a valuation undertaken by the directors.

5. Debtors

2024 2023
£ £
Other debtors 542 455

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 22,647 13,089

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,193 1,193
Other creditors 17,843 16,259
20,036 17,452

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
220,000 Ordinary A shares of £ 1.00 each 220,000 220,000
125,000 Ordinary B shares of £ 1.00 each 125,000 125,000
345,000 345,000