Limited Liability Partnership registration number OC318424 (England and Wales)
RED SQUARE DEVELOPMENTS (HAVANT) LLP
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
RED SQUARE DEVELOPMENTS (HAVANT) LLP
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RED SQUARE DEVELOPMENTS (HAVANT) LLP
BALANCE SHEET
AS AT 30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
as restated
Notes
£
£
£
£
Current assets
Debtors
3
-
1,727,054
Cash at bank and in hand
-
73,910
-
1,800,964
Creditors: amounts falling due within one year
4
-
(1,329,071)
Net current assets and net assets attributable to members
-
471,893
Represented by:
Members' other interests
Other reserves classified as equity
-
471,893
-
471,893

T he members of the limited liability partnership have elected not to include a copy of the profit and loss account within the financial statements.

For the financial year ended 30 November 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006 as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to small limited liability partnerships.

The members acknowledge their responsibilities for complying with the requirements of the Act as applied to limited liability partnerships with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to limited liability partnerships subject to the small limited liability partnerships regime.

The financial statements were approved by the members and authorised for issue on 25 August 2026 and are signed on their behalf by:
25 August 2026
Darren Faircloth For and on behalf of Faircloth Havant Limited
Designated member
Limited Liability Partnership registration number OC318424 (England and Wales)
RED SQUARE DEVELOPMENTS (HAVANT) LLP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -
1
Accounting policies
Limited liability partnership information

Red Square Developments (Havant) LLP is a limited liability partnership incorporated in England and Wales. The registered office is The Old Library, Dudley Road, Tunbridge Wells, Kent, United Kingdom, TN1 1LE.

The limited liability partnership's principal activities are disclosed in the Members' Report.

1.1
Accounting convention

These financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting by Limited Liability Partnerships" (LLP's SORP) issued in December 2018, together 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 limited liability partnership. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Financial instruments

Financial assets and liabilities are recognised when the limited liability partnership becomes a party to the contractual provisions of the instrument.

All financial assets and liabilities are initially measured at transaction price.

Non-current debt instruments, which meet the conditions set out in paragraph 11.9 of FRS 102, are subsequently measured at amortised cost using the effective interest method.

Debt instruments that have no stated interest rate and are classified as payable or receivable within on e year and which meet the above conditions are initially measured at the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment.

Impairment of Assets

Financial assets are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the profit and loss account. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying value does not exceed what the carrying value would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

RED SQUARE DEVELOPMENTS (HAVANT) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
2
Employees

The average number of persons (excluding members) employed by the partnership during the year was:

2025
2024
Number
Number
Total
1
1
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
1,727,054
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
7,389
Other creditors
-
1,304,819
Accruals and deferred income
-
16,863
-
1,329,071
5
Loans and other debts due to members

The members’ capital classified as a liability consist of capital loans only. In the event of winding up, amounts in ‘Loans and other debts due to members’ would rank equally with all other creditors, with the exception of HM Revenue and Customs who would have preference over other creditors, all of whom are unsecured. The protection afforded to creditors in such an event is legally enforceable and cannot be revoked solely by a decision of the members.

There are no restrictions or limitations existing on the ability of the members to reduce the amount of ‘Members’ other interests’.

6
Related party transactions
Transactions with related parties

During the year the limited liability partnership entered into the following transactions with related parties:

Related Party's Company

At the end of the year there was an amount of £Nil (2024: £1,156,709) owed by a Company of which one of the Members is a director. The loan is interest free and repayable on demand.

RED SQUARE DEVELOPMENTS (HAVANT) LLP
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 4 -
7
Parent company

The members are the controlling party by virtue of their controlling interest in the limited liability partnership.

The company's parent is Faircloth Havant Limited, a Company incorporated in England and Wales.

The limited liability partnership's ultimate controlling party is Darren Stephen Faircloth.

8
Events during the year

All the Assets and Liabilities including Profit for the current year has been transferred to Faircloth Havant Limited.

9
Contingent liability

The partnership is currently disputing a potential VAT liability with H M Revenue & Customs. The potential VAT liability cannot be quantified.

10
Prior period adjustment
Reconciliation of changes in equity
1 December
30 November
2023
2024
£
£
Adjustments to prior year
Disposal of Investment Property
-
(920,000)
Equity as previously reported
339,918
448,107
Equity as adjusted
339,918
(471,893)
Disposal of Investment Property
(920,000)
Profit as previously reported
38,184
Loss as adjusted
(881,816)
Notes to reconciliation
Prior Year Adjustment

A prior year adjustment related to an investment property amounting to £920,000 that was not transferred in the previous year.

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