REGISTERED NUMBER: 10062490 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Red Rag Property Limited

Page

Company Information

1

Report of the Directors

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R Watts

D J Watts

SECRETARY:

Mrs P A Watts

REGISTERED OFFICE:

5 - 7, Church Street

Stow On The Wold

Gloucestershire

GL54 1BB

REGISTERED NUMBER:

10062490 (England and Wales)

ACCOUNTANTS:

Attwoods

Chartered Certified Accountants

90-92 High Street

Evesham

Worcestershire

WR11 4EU

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a property letting company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

R Watts

D J Watts

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D J Watts - Director

26 September 2025

FIXED ASSETS

Tangible assets

4

722

962

Investment property

5

375,000

375,000

375,722

375,962

CURRENT ASSETS

Debtors

819

270

Cash at bank and in hand

6,285

5,100

7,104

5,370

CREDITORS

Amounts falling due within one year

320,361

319,405

NET CURRENT LIABILITIES

(313,257

)

(314,035

)

TOTAL ASSETS LESS CURRENT LIABILITIES

62,465

61,927

PROVISIONS FOR LIABILITIES

14,657

14,657

NET ASSETS

47,808

47,270

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

6

54,349

54,349

Retained earnings

(6,641

)

(7,179

)

47,808

47,270

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 directors acknowledge their 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

D J Watts - Director

R Watts - Director

1.	STATUTORY INFORMATION

Red Rag Property 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

6,486

DEPRECIATION

At 1 January 2024

5,524

Charge for year

240

At 31 December 2024

5,764

NET BOOK VALUE

At 31 December 2024

722

At 31 December 2023

962

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

375,000

NET BOOK VALUE

At 31 December 2024

375,000

At 31 December 2023

375,000

The investment property was purchased in 2016 and the directors have revalued this within the financial statements to reflect the current fair value as at 31 December 2024.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2016

320,651

Valuation in 2023

54,349

375,000

6.

RESERVES

Revaluation

reserve

£

At 1 January 2024

and 31 December 2024

54,349

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Watts.