Company registration number 04901359 (England and Wales)
REDHAM PROPERTY COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
REDHAM PROPERTY COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
REDHAM PROPERTY COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
275,018
275,026
Current assets
Debtors
5
2,455
1,899
Cash at bank and in hand
9,364
18,495
11,819
20,394
Creditors: amounts falling due within one year
6
(173,432)
(189,572)
Net current liabilities
(161,613)
(169,178)
Net assets
113,405
105,848
Capital and reserves
Called up share capital
1
1
Revaluation reserve
19,432
19,432
Profit and loss reserves
93,972
86,415
Total equity
113,405
105,848
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 5 August 2025 and are signed on its behalf by:
Mr A B Jones
Director
Company registration number 04901359 (England and Wales)
REDHAM PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Redham Property Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Brook Lane, Ormskirk, Lancashire, United Kingdom, L39 4RE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
1.2
Turnover
Revenue comprises of rents receivable during the year.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
Leasehold land and buildings
No depreciation
Fixtures and fittings
25% Reducing Balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.5
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
REDHAM PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
125,000
150,000
1,800
276,800
Depreciation and impairment
At 1 January 2024
1,774
1,774
Depreciation charged in the year
8
8
At 31 December 2024
1,782
1,782
Carrying amount
At 31 December 2024
125,000
150,000
18
275,018
At 31 December 2023
125,000
150,000
26
275,026
4
Investment property
The company's properties are valued annually by the director at open market value.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
400
Other debtors
2,055
1,899
2,455
1,899
REDHAM PROPERTY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
900
900
Corporation tax
1,775
1,613
Other creditors
170,757
187,059
173,432
189,572