Red House I Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Red House I Ltd

Company Information

Directors

V A Laidler A M T MacLeod

Registered Office

27 Old Gloucester Street London WC1N 3AX

Registered Number

11634543

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Red House I Ltd

(Registration number: 11634543)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	119,318	142,246
Tangible assets	5	3,378	4,893
		122,696	147,139
Current assets
Debtors	6	109,548	109,989
Cash at bank and in hand		295,900	267,103
		405,448	377,092
Creditors: Amounts falling due within one year	7	(348,652)	(415,395)
Net current assets/(liabilities)		56,796	(38,303)
Total assets less current liabilities		179,492	108,836
Creditors: Amounts falling due after more than one year	7	-	(7,903)
Provisions for liabilities		(30,580)	(36,675)
Net assets		148,912	64,258
Capital and reserves
Called up share capital		21	21
Retained earnings		148,891	64,237
Shareholders' funds		148,912	64,258

Red House I Ltd

(Registration number: 11634543)
Balance Sheet as at 31 December 2025

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act 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 companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 September 2026 and signed on its behalf by:
 

......................................... V A Laidler Director

......................................... A M T MacLeod Director

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
27 Old Gloucester Street
London
WC1N 3AX

These financial statements were authorised for issue by the Board on 20 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and fittings	33% on cost
Computer equipment	33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2025	229,282	229,282
At 31 December 2025	229,282	229,282
Amortisation
At 1 January 2025	87,036	87,036
Amortisation charge	22,928	22,928
At 31 December 2025	109,964	109,964
Carrying amount
At 31 December 2025	119,318	119,318
At 31 December 2024	142,246	142,246

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

5	Tangible assets

	Fixtures and fittings £	Computer equipment £	Total £
Cost or valuation
At 1 January 2025	2,077	15,734	17,811
Additions	-	894	894
At 31 December 2025	2,077	16,628	18,705
Depreciation
At 1 January 2025	1,463	11,455	12,918
Charge for the year	230	2,179	2,409
At 31 December 2025	1,693	13,634	15,327
Carrying amount
At 31 December 2025	384	2,994	3,378
At 31 December 2024	614	4,279	4,893

6

Debtors

	Note	2025 £	2024 £
Trade debtors		86,660	105,354
Amounts owed by related parties	9	10,903	-
Prepayments		11,285	4,555
Other debtors		700	80
		109,548	109,989

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

7

Creditors

Due within one year	Note	2025 £	2024 £
Bank borrowings		7,903	10,313
Trade creditors		70,451	103,516
Amounts owed to related parties	9	19,173	37,332
Taxation and social security		146,662	147,259
Accruals and deferred income		88,412	113,655
Other creditors		16,051	3,320
		348,652	415,395

 

	2025 £	2024 £
Due after one year
Loans and borrowings	-	7,903

Included in bank borrowings is a combined balance of £7,903 (2024 - £18,216) which is unsecured and guaranteed by the government.

8	Financial commitments, guarantees and contingencies

Pension commitments

Included in the balance sheet are pensions of £874 (2024 - £1,027). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Off balance sheet commitments

At the reporting end date, the company has outstanding commitments for future minimum lease payments under non-cancellable leases totalling £7,982 (2024 - £NIL).

Red House I Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9	Related party transactions

Loans to related parties

2025	Key management £	Total £
Advanced	10,903	10,903
At end of period	10,903	10,903

Terms of loans to related parties

Loans to key management are repayable on demand and interest is charged on loan balances owed to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate.
 

Loans from related parties

2025	Key management £	Total £
At start of period	37,332	37,332
Advanced	186,725	186,725
Repaid	(204,884)	(204,884)
At end of period	19,173	19,173

2024	Key management £	Total £
At start of period	36,613	36,613
Advanced	290,012	290,012
Repaid	(289,293)	(289,293)
At end of period	37,332	37,332

Terms of loans from related parties

Loans from key management are interest free and repayable on demand.