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REGISTERED NUMBER: 03458071 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REDHILL PROPERTY SERVICES LIMITED

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REDHILL PROPERTY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: Mr D A Nicholson



REGISTERED OFFICE: 3 Brittingham House
Orchard Street
Crawley
West Sussex
RH11 7AE



REGISTERED NUMBER: 03458071 (England and Wales)



ACCOUNTANTS: David Beckman & Co Ltd
62 The Street
Ashtead
Surrey
KT21 1AT



BANKERS: Barclays Bank Plc
10-12 The Martletts
Crawley
West Sussex
RH10 1ES

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 64,184 33,716
Tangible assets 6 5,370 3,562
69,554 37,278

CURRENT ASSETS
Debtors 7 814,373 697,378
Cash at bank 88,767 59,646
903,140 757,024
CREDITORS
Amounts falling due within one year 8 (887,832 ) (769,284 )
NET CURRENT ASSETS/(LIABILITIES) 15,308 (12,260 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

84,862

25,018

CREDITORS
Amounts falling due after more than one
year

9

(4,197

)

(14,218

)

PROVISIONS FOR LIABILITIES (1,343 ) (891 )
NET ASSETS 79,322 9,909

CAPITAL AND RESERVES
Called up share capital 25 25
Capital redemption reserve 75 75
Retained earnings 79,222 9,809
SHAREHOLDERS' FUNDS 79,322 9,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 May 2025 and were signed by:





Mr D A Nicholson - Director


REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Redhill Property Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis except for the modification to a fair value basis if required.

Significant judgements and estimates
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates if necessary. It also requires management to exercise judgement in applying the Company accounting policies.

The items in the financial statements where these judgements and estimates have been made include:

Judgements and Estimates

- The useful life of fixed assets.
- Asset residual values
- Fair value of goodwill

Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts.

Turnover
Turnover represents the net invoiced sales of services and property sales, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of five years.

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets over their expected useful lives as follows:.

- Improvements to property- 2% on cost
- Plant and machinery- 25% on cost
- Computer equipment- 25% on cost
- Fixtures and fittings- 25% on cost

Impairment of Assets
At each reporting date, fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment been recognised for the asset in prior years.

All impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, and loans from third parties.

Basic financial liabilities, including creditors and bank loans that are classified as debt. are initially recognised
as 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

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

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2024 74,000 9,900 83,900
Additions 40,000 - 40,000
At 31 December 2024 114,000 9,900 123,900
AMORTISATION
At 1 January 2024 40,284 9,900 50,184
Charge for year 9,532 - 9,532
At 31 December 2024 49,816 9,900 59,716
NET BOOK VALUE
At 31 December 2024 64,184 - 64,184
At 31 December 2023 33,716 - 33,716

REDHILL PROPERTY SERVICES LIMITED (REGISTERED NUMBER: 03458071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 27,566
Additions 1,881
At 31 December 2024 29,447
DEPRECIATION
At 1 January 2024 24,004
Charge for year 73
At 31 December 2024 24,077
NET BOOK VALUE
At 31 December 2024 5,370
At 31 December 2023 3,562

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 814,373 697,378

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 15,102 14,675
Taxation and social security 79,763 59,523
Other creditors 782,967 685,086
887,832 769,284

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,197 14,218

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 58,927 58,927
Between one and five years 172,596 231,523
231,523 290,450