REGISTERED NUMBER: 04218318 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

REDIT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Hemme

Mrs N J Hemme

SECRETARY:

P Hemme

REGISTERED OFFICE:

23 Stafford Road

Croydon

Surrey

CR0 4NG

REGISTERED NUMBER:

04218318 (England and Wales)

BANKERS:

Barclays

112 Woodcote Road

Wallington

Surrey

SM6 0NF

FIXED ASSETS

Investment property

4

559,633

559,633

CURRENT ASSETS

Debtors

5

104,016

96,260

Cash at bank

15,212

704

119,228

96,964

CREDITORS

Amounts falling due within one year

6

8,083

1,755

NET CURRENT ASSETS

111,145

95,209

TOTAL ASSETS LESS CURRENT LIABILITIES

670,778

654,842

CREDITORS

Amounts falling due after more than one year

7

(595,978

)

(595,978

)

PROVISIONS FOR LIABILITIES

(32,401

)

(32,401

)

NET ASSETS

42,399

26,463

CAPITAL AND RESERVES

Called up share capital

8

8

Retained earnings

8

42,391

26,455

SHAREHOLDERS' FUNDS

42,399

26,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 22 December 2025 and were signed on its behalf by:

M D Hemme - Director

1.	STATUTORY INFORMATION

Redit 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.	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.

Turnover

Turnover represents net rental income received.

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 (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

559,633

NET BOOK VALUE

At 31 March 2025

559,633

At 31 March 2024

559,633

Fair value at 31 March 2025 is represented by:

£

Valuation in 2005

70,880

Valuation in 2006

15,000

Valuation in 2009

(20,000

)

Valuation in 2021

22,488

Valuation in 2023

25,000

Valuation in 2024

30,637

Cost

415,628

559,633

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

2,944

2,930

Other debtors

101,072

93,330

104,016

96,260

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

-

857

Other creditors

8,083

898

8,083

1,755

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

360,478

360,478

Other creditors

235,500

235,500

595,978

595,978

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

360,478

360,478

8.

RESERVES

Retained

earnings

£

At 1 April 2024

26,455

Profit for the year

15,936

At 31 March 2025

42,391

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

31/3/25

31/3/24

£

£

Mrs N J Hemme and M D Hemme

Balance outstanding at start of year

(898

)

(156,697

)

Amounts advanced

3,850

156,697

Amounts repaid

(11,034

)

(898

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(8,082

)

(898

)

Interest has been charged on the loan to the company from the Directors at a 7.5% commercial rate.

10.	RELATED PARTY DISCLOSURES

31/3/25

31/3/24

£

£

Amount due from/(to) related party at balance sheet date

Mr & Mrs Hemme

Directors

(235,500

)

(235,500

)

Purple Coin Limited

A company in which Mr Hemme is a shareholder

73,959

82,883

MDH Business Advisers Limited

A company in which Mr Hemme has ultimate control

2,347

-

The controlling party is M & N Hemme who jointly control the company..