REGISTERED NUMBER: 04650483 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

RETSCO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Ramsden

M N Ramsden

D P Ramsden

REGISTERED OFFICE:

Mayrhofen

Holton Road

Tetney

Grimsby

Lincolnshire

DN36 5PB

REGISTERED NUMBER:

04650483 (England and Wales)

ACCOUNTANTS:

Smethurst & Co

12 Abbey Road

GRIMSBY

DN32 0HL

FIXED ASSETS

Tangible assets

4

1

1

Investment property

5

2,864,571

3,249,571

2,864,572

3,249,572

CURRENT ASSETS

Debtors

6

953,014

565,207

Cash at bank

69,599

319,468

1,022,613

884,675

CREDITORS

Amounts falling due within one year

7

60,542

137,690

NET CURRENT ASSETS

962,071

746,985

TOTAL ASSETS LESS CURRENT LIABILITIES

3,826,643

3,996,557

CREDITORS

Amounts falling due after more than one year

8

(1,069,000

)

(869,000

)

PROVISIONS FOR LIABILITIES

(78,615

)

(126,276

)

NET ASSETS

2,679,028

3,001,281

CAPITAL AND RESERVES

Allotted, called up and

fully paid share capital

77

77

Capital redemption reserve

25

25

Profit and loss account - undistributable

261,544

822,866

Profit and loss account

2,417,382

2,178,313

SHAREHOLDERS' FUNDS

2,679,028

3,001,281

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J J Ramsden - Director

1.	STATUTORY INFORMATION

Retsco 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 the fair value, excluding value added tax, of rental income receivable on investment properties and of property sales measured at the point of the exchange of contracts.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

Depreciation is provided on all tangible fixed assets at rates calculated to write off cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures & fittings

-

15 or 25% on cost

Investment property

Investment properties are revalued annually and any surplus or deficit arising from changes in fair value is recognised in the profit and loss account. No depreciation is provided in respect of investment properties.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Debtors and creditors

Debtors and creditors with no interest rate and receivable or payable within one year are recognised at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings

Loans and borrowings which are basic financial instruments are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at the present value of the future payments discounted at a market rate of interest for a similar investment.

Loans payable to a director and shareholder of the company and their close family which are basic financial instruments are recognised at transaction price in accordance with paragraph 1.15A of FRS 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

& fittings

£

COST

At 1 April 2024

and 31 March 2025

12,101

DEPRECIATION

At 1 April 2024

and 31 March 2025

12,100

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

3,249,571

Fair value adjustment

(385,000

)

At 31 March 2025

2,864,571

NET BOOK VALUE

At 31 March 2025

2,864,571

At 31 March 2024

3,249,571

The commercial investment properties were valued at fair market value during the year by PPH Commercial. The residential investment properties were valued at fair value on 31 March 2025 by the director, J J Ramsden. The historical cost of the investment properties is £2,412,420 (2024: £2,412,420).

6.

DEBTORS

31.3.25

31.3.24

£

£

Amounts falling due within one year:

Trade debtors

47,301

39,748

Other debtors

255,115

23,445

Prepayments

598

2,014

303,014

65,207

31.3.25

31.3.24

£

£

Amounts falling due after more than one year:

Other debtors

650,000

500,000

Aggregate amounts

953,014

565,207

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

7,316

24,647

Social security and other taxes

22,284

17,314

Other creditors

24,660

91,479

Accruals and deferred income

6,282

4,250

60,542

137,690

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

1,022,000

822,000

Bank loans - over 5 years

47,000

47,000

1,069,000

869,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans - over 5 years

47,000

47,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,069,000

869,000

The loans are secured by fixed and floating charges over the company's assets.

10.	RELATED PARTY DISCLOSURES

Each director used a loan account with the company to record amounts owed to them. The balances at the end of the year were as follows:

J J Ramsden, included in other creditors due within one year £754 (2024: £754)

M N Ramsden, included in other creditors due within one year £4,958 (2024: £4,958)

D P Ramsden, included in other creditors due within one year £3,979 (2024: £69,479)

Included in debtors due after more than one year is a loan to North East Lincolnshire Properties Limited, a company owned by the directors J J Ramsden and M N Ramsden and their wives. The balance on the loan at the end of the year was £650,000 (2024: £500,000). Interest of £15,996 (2024: £12,500) was charged to North East Lincolnshire Properties Limited on a commercial basis during the year.

Included in debtors due within one year is a loan made during the year of £250,000 paid to Eastbay Construction Limited, a subsidiary of a company controlled by the directors. Interest of £3,013 was charged to Eastbay Construction Limited on a commercial basis during the year.