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Company Registration No. 07252279 (England and Wales)
Red Property Development & Maintenance Limited Unaudited accounts for the year ended 31 May 2024
Red Property Development & Maintenance Limited Unaudited accounts Contents
Page
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Red Property Development & Maintenance Limited Company Information for the year ended 31 May 2024
Director
Natalie Beecham
Company Number
07252279 (England and Wales)
Registered Office
31 Bryn Road Tondu Bridgend CF32 9EB
Accountants
STAS Ltd 253 Cowbridge Road West Cardiff CF5 5TD
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Red Property Development & Maintenance Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
383,322 
390,049 
Current assets
Debtors
- 
759 
Cash at bank and in hand
5,250 
2,878 
5,250 
3,637 
Creditors: amounts falling due within one year
(290,065)
(281,564)
Net current liabilities
(284,815)
(277,927)
Total assets less current liabilities
98,507 
112,122 
Creditors: amounts falling due after more than one year
(253,211)
(215,000)
Net liabilities
(154,704)
(102,878)
Capital and reserves
Called up share capital
100 
1 
Profit and loss account
(154,804)
(102,879)
Shareholders' funds
(154,704)
(102,878)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 June 2025 and were signed on its behalf by
Natalie Beecham Director Company Registration No. 07252279
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Red Property Development & Maintenance Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Red Property Development & Maintenance Limited is a private company, limited by shares, registered in England and Wales, registration number 07252279. The registered office is 31 Bryn Road, Tondu, Bridgend, CF32 9EB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
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 also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Red Property Development & Maintenance Limited Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
356,413 
24,954 
83,369 
464,736 
At 31 May 2024
356,413 
24,954 
83,369 
464,736 
Depreciation
At 1 June 2023
- 
18,198 
56,489 
74,687 
Charge for the year
- 
1,351 
5,376 
6,727 
At 31 May 2024
- 
19,549 
61,865 
81,414 
Net book value
At 31 May 2024
356,413 
5,405 
21,504 
383,322 
At 31 May 2023
356,413 
6,756 
26,880 
390,049 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
759 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
2,451 
Trade creditors
7,770 
7,770 
Taxes and social security
533 
- 
Loans from directors
280,512 
271,343 
Accruals
1,250 
- 
290,065 
281,564 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
253,211 
215,000 
8
Average number of employees
During the year the average number of employees was 1 (2023: 0).
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