Company Registration No. 12294530 (England and Wales)
Red23 Development Ltd
Unaudited accounts
for the year ended 31 October 2025
Red23 Development Ltd
Statement of financial position
as at 31 October 2025
Tangible assets
1,285
1,909
Investment property
2,248,000
2,562,000
Cash at bank and in hand
55,731
5,584
Creditors: amounts falling due within one year
(54,568)
(62,057)
Net current assets
6,741
70,149
Total assets less current liabilities
2,256,146
2,634,178
Creditors: amounts falling due after more than one year
(1,217,258)
(1,320,002)
Provisions for liabilities
Deferred tax
(9,740)
(88,396)
Net assets
1,029,148
1,225,780
Called up share capital
100
100
Revaluation reserve
28,775
264,275
Profit and loss account
1,000,273
961,405
Shareholders' funds
1,029,148
1,225,780
For the year ending 31 October 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 31 July 2026 and were signed on its behalf by
G Weinberg
Director
Company Registration No. 12294530
Red23 Development Ltd
Notes to the Accounts
for the year ended 31 October 2025
Red23 Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 12294530. The registered office is 112 Burges Road, Thorpe Bay, Essex, SS1 3JL.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Fixtures & fittings
15% reducing balance
Computer equipment
25% straight line
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 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.
Investments in shares are included at fair value.
Red23 Development Ltd
Notes to the Accounts
for the year ended 31 October 2025
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2024
1,810
1,928
3,738
At 31 October 2025
1,810
1,928
3,738
At 1 November 2024
865
964
1,829
Charge for the year
142
482
624
At 31 October 2025
1,007
1,446
2,453
At 31 October 2025
803
482
1,285
At 31 October 2024
945
964
1,909
Fair value at 1 November 2024
2,562,000
Net loss from fair value adjustments
(314,000)
At 31 October 2025
2,248,000
The properties have revalued by the director based upon current market prices of similar properties.
6
Investments
Other investments
Valuation at 1 November 2024
120
Valuation at 31 October 2025
120
Amounts falling due within one year
Other debtors
5,578
126,622
8
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
13,379
14,719
Other creditors
5,792
5,793
Loans from directors
24,000
24,000
Deferred income
8,550
14,745
Red23 Development Ltd
Notes to the Accounts
for the year ended 31 October 2025
9
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
1,170,350
1,120,350
Loans from directors
46,908
199,652
Aggregate of amounts that fall due for payment after five years
1,170,350
1,120,350
All bank loans due after one year are secured by way of fixed charges over the assets to which they relate.
10
Average number of employees
During the year the average number of employees was 1 (2024: 1).