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Company Registration No. 13156662 (England and Wales)
REDS PROPERTY LETTINGS LTD Unaudited accounts for the year ended 31 March 2025
REDS PROPERTY LETTINGS LTD Unaudited accounts Contents
Page
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REDS PROPERTY LETTINGS LTD Company Information for the year ended 31 March 2025
Director
J L Skerritt
Company Number
13156662 (England and Wales)
Registered Office
45 THE RINGWAY QUENIBOROUGH LEICESTER LE7 3DN ENGLAND
Accountants
AJD Accountancy Services Ltd The Bungalow Coppice Lane Queniborough Leicester LE7 3DR
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REDS PROPERTY LETTINGS LTD Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
515 
675 
Investment property
390,000 
390,000 
390,515 
390,675 
Current assets
Debtors
1,461 
5,536 
Cash at bank and in hand
123,401 
92,384 
124,862 
97,920 
Creditors: amounts falling due within one year
(179,608)
(215,623)
Net current liabilities
(54,746)
(117,703)
Total assets less current liabilities
335,769 
272,972 
Creditors: amounts falling due after more than one year
(160,304)
(160,304)
Provisions for liabilities
Deferred tax
(9,986)
(7,620)
Net assets
165,479 
105,048 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
165,379 
104,948 
Shareholders' funds
165,479 
105,048 
For the year ending 31 March 2025 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 his 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 7 May 2025 and were signed on its behalf by
J L Skerritt Director Company Registration No. 13156662
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REDS PROPERTY LETTINGS LTD Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
REDS PROPERTY LETTINGS LTD is a private company, limited by shares, registered in England and Wales, registration number 13156662. The registered office is 45 THE RINGWAY, QUENIBOROUGH, LEICESTER, LE7 3DN, ENGLAND.
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.
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.
Deferred taxation
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 accounts. 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.
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:
Motor vehicles
25% reducing balance
Fixtures & fittings
20% reducing balance
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REDS PROPERTY LETTINGS LTD Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2024
785 
245 
1,030 
At 31 March 2025
785 
245 
1,030 
Depreciation
At 1 April 2024
280 
75 
355 
Charge for the year
125 
35 
160 
At 31 March 2025
405 
110 
515 
Net book value
At 31 March 2025
380 
135 
515 
At 31 March 2024
505 
170 
675 
5
Investment property
2025 
£ 
Fair value at 1 April 2024
390,000 
At 31 March 2025
390,000 
Revaluation of properties was made by the director taking into account properties sold in the local area and reviewing insurance valuations.
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,445 
1,956 
Other debtors
16 
3,580 
1,461 
5,536 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
VAT
4,674 
- 
Taxes and social security
17,958 
10,489 
Loans from directors
156,201 
204,634 
Accruals
775 
500 
179,608 
215,623 
8
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
160,304 
160,304 
The bank loan is secured on the investment property and is interest only at a rate of 3.09% fixed until March 2027, thereafter it will go to a variable rate.
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REDS PROPERTY LETTINGS LTD Notes to the Accounts for the year ended 31 March 2025
9
Average number of employees
During the year the average number of employees was 1 (2024: 1).
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