Caseware UK (AP4) 2016.0.181 2016.0.181 2018-02-282018-02-28false2017-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activity 06503520 2017-03-01 2018-02-28 06503520 2016-03-01 2017-02-28 06503520 2018-02-28 06503520 2017-02-28 06503520 c:Director1 2017-03-01 2018-02-28 06503520 d:ComputerEquipment 2017-03-01 2018-02-28 06503520 d:ComputerEquipment 2018-02-28 06503520 d:ComputerEquipment 2017-02-28 06503520 d:ComputerEquipment d:OwnedOrFreeholdAssets 2017-03-01 2018-02-28 06503520 d:FreeholdInvestmentProperty 2018-02-28 06503520 d:FreeholdInvestmentProperty 2017-02-28 06503520 d:CurrentFinancialInstruments 2018-02-28 06503520 d:CurrentFinancialInstruments 2017-02-28 06503520 d:CurrentFinancialInstruments d:WithinOneYear 2018-02-28 06503520 d:CurrentFinancialInstruments d:WithinOneYear 2017-02-28 06503520 d:ShareCapital 2018-02-28 06503520 d:ShareCapital 2017-02-28 06503520 d:RetainedEarningsAccumulatedLosses 2018-02-28 06503520 d:RetainedEarningsAccumulatedLosses 2017-02-28 06503520 d:AcceleratedTaxDepreciationDeferredTax 2018-02-28 06503520 c:FRS102 2017-03-01 2018-02-28 06503520 c:AuditExempt-NoAccountantsReport 2017-03-01 2018-02-28 06503520 c:FullAccounts 2017-03-01 2018-02-28 06503520 c:PrivateLimitedCompanyLtd 2017-03-01 2018-02-28 iso4217:GBP xbrli:pure

Registered number: 06503520










REDSPINNER LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2018

 
REDSPINNER LIMITED
REGISTERED NUMBER:06503520

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2018

2018
2017
Note
£
£

Fixed assets
  

Tangible assets
 4 
77
225

Investment property
 5 
331,250
331,250

  
331,327
331,475

Current assets
  

Debtors: amounts falling due within one year
 6 
57
44

Cash at bank and in hand
  
272,644
270,245

  
272,701
270,289

Creditors: amounts falling due within one year
 7 
(2,479)
(3,146)

Net current assets
  
 
 
270,222
 
 
267,143

Total assets less current liabilities
  
601,549
598,618

  

Net assets
  
601,549
598,618


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
601,548
598,617

  
601,549
598,618


Page 1

 
REDSPINNER LIMITED
REGISTERED NUMBER:06503520
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2018

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr B Lodge
Director

Date: 13 November 2018

Page 2

 
REDSPINNER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

1.


General information

Redspinner Limited is a private company limited by shares and incorporated in England and Wales, registration number 06503520. The registered office is 1 Queens Close, Norwich, NR4 7PE

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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. 

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in the Income Statement using the effective interest method.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
REDSPINNER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
REDSPINNER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2017 - 1).

Page 5

 
REDSPINNER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 March 2017
739



At 28 February 2018

739



Depreciation


At 1 March 2017
514


Charge for the year on owned assets
148



At 28 February 2018

662



Net book value



At 28 February 2018
77



At 28 February 2017
225


5.


Investment property


Freehold investment property

£



Valuation


At 1 March 2017
331,250



At 28 February 2018
331,250


Comprising


Cost
331,250

At 28 February 2018
331,250

The 2018 valuations were made by the director, on an open market value for existing use basis.




Page 6

 
REDSPINNER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018

6.


Debtors

2018
2017
£
£


Other debtors
44
44

Deferred taxation
13
-

57
44



7.


Creditors: Amounts falling due within one year

2018
2017
£
£

Corporation tax
729
1,446

Accruals and deferred income
1,750
1,700

2,479
3,146



8.


Deferred taxation




2018


£






Charged to profit or loss
13



At end of year
13

The deferred tax asset is made up as follows:

2018
2017
£
£


Accelerated capital allowances
13
-

13
-

 
Page 7