Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-31063582002021-12-312021-01-01false44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06358200 2021-01-01 2021-12-31 06358200 2020-01-01 2020-12-31 06358200 2021-12-31 06358200 2020-12-31 06358200 1 2021-01-01 2021-12-31 06358200 d:Director2 2021-01-01 2021-12-31 06358200 c:Buildings 2021-12-31 06358200 c:Buildings 2020-12-31 06358200 c:CurrentFinancialInstruments 2021-12-31 06358200 c:CurrentFinancialInstruments 2020-12-31 06358200 c:CurrentFinancialInstruments c:WithinOneYear 2021-12-31 06358200 c:CurrentFinancialInstruments c:WithinOneYear 2020-12-31 06358200 c:ShareCapital 2021-12-31 06358200 c:ShareCapital 2020-12-31 06358200 c:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 06358200 c:RetainedEarningsAccumulatedLosses 2021-12-31 06358200 c:RetainedEarningsAccumulatedLosses 2020-12-31 06358200 d:OrdinaryShareClass1 2021-01-01 2021-12-31 06358200 d:OrdinaryShareClass1 2021-12-31 06358200 d:OrdinaryShareClass1 2020-12-31 06358200 d:FRS102 2021-01-01 2021-12-31 06358200 d:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 06358200 d:FullAccounts 2021-01-01 2021-12-31 06358200 d:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 06358200 4 2021-01-01 2021-12-31 06358200 6 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure



















Red Bolt Construction Limited

Registered number: 06358200
Information for filing with the Registrar
For the year ended 31 December 2021

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
REGISTERED NUMBER: 06358200

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,750,000
1,750,000

Investments
 5 
488
488

  
1,750,488
1,750,488

Current assets
  

Debtors: amounts falling due within one year
 6 
-
1,082

Cash at bank and in hand
  
9,964
15,275

  
9,964
16,357

Creditors: amounts falling due within one year
 7 
(5,580)
(381,347)

Net current assets/(liabilities)
  
 
 
4,384
 
 
(364,990)

Total assets less current liabilities
  
1,754,872
1,385,498

  

Net assets
  
1,754,872
1,385,498


Capital and reserves
  

Called up share capital 
 8 
492
492

Profit and loss account
 9 
1,754,380
1,385,006

  
1,754,872
1,385,498


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 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
REGISTERED NUMBER: 06358200
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider 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 the Companies Act 2006.

The directors acknowledge their 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 statement of comprehensive income 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 on 24 August 2022.

D S Shonn
Director

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 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The Company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 Great Ducie Street, Manchester, M3 1FB. 

The principal activity is non-specialised wholesale trade.
These financial statements have been presented in pound sterling which is the functional currency of the company, and rounded to the nearest £. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis. The directors, having considered the financial position of the company for a period of at least twelve months from the date of signing these financial statements, have no reason to believe that a material uncertainty exists that may cast doubt about the ability of the company to continue as a going concern.
Accordingly the directors have a reasonable expectation that the Company will continue in operational existence and thus they adopt the going concern basis of accounting in preparing the financial statements. The going concern will not be affected by the COVID-19 situation as confirmed by the directors.

- 3 -

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

  
2.4

Tangible assets

All fixed assets are initally recorded ast cost. The director has chosen not to depreciate freehold property in order to ensure that the accounts present a true and fair view. The company regulary maintains the property in order to maintain its useful economic life and value to the business. As a result, it has not depreciated the asset in accordance with FRS 15 Tangible Fixed Assets. The director deems that this is wholly appropriate in the circumstances. 

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

- 4 -

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.9

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.

 
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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

- 5 -

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).


4.


Tangible fixed asset





Long leasehold property

£



Cost


At 1 January 2021
1,750,000



At 31 December 2021

1,750,000






Net book value



At 31 December 2021
1,750,000



At 31 December 2020
1,750,000

The freehold properties were last valued in February 2013. It is deemed by the directors that freehold property can be stated at cost as there has been no significant change at the Statement of Financial Position date.


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost and net book value


At 1 January 2021
488



At 31 December 2021
488




The company owns 100% of the issued share capital of Shonn Brothers (Manchester) Limited. 

- 6 -

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Debtors

2021
2020
£
£


Amounts owed by joint ventures and associated undertakings
-
1,082



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Amounts owed to group undertakings
-
379,587

Amounts owed to other participating interests
2,000
-

Accruals and deferred income
3,580
1,760

5,580
381,347



8.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



492 (2020 - 492) ordinary shares of £1.00 each
492
492



9.


Reserves

Profit and loss account

The Profit and Loss account reserve represents cumulative profits and losses made by the Company to date less dividends declared.


10.


Related party transactions

The Company has taken advantage of the exemption permitted by Section 33 Related Party Disclosures, not to provide disclosures of transactions entered into with other wholly-owed members of the group.
Included within creditors is an amount due to Millgobe Ventures Limited of £2,000 (2020: debit £1,082). Millglobe Ventures Limited is a related party, also through common directorship.
During the year, Millglobe invoiced the Company for their consultancy fees of £56,263 (2020: £50,000). 

- 7 -

 
 06358200
31 December 2021
RED BOLT CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Post balance sheet events

On 24 February 2022 Russian Forces entered Ukraine, resulting in Western Nation reactions including announcements of sanctions against Russia and Russian interests worldwide and an economic ripple effect on the global economy. The Directors have carried out an assessment of the potential impact of Russian Forces entering Ukraine on the business, including the impact of mitigation measures and uncertainties, and have concluded that this is a non-adjusting post balance sheet event with the greatest impact on the business expected to be from the economic ripple effect on the global economy. The Directors have taken account of these potential impacts in their going concern assessment.


12.


Controlling party

No individual shareholder of Red Bolt Construction Limited has ultimate control of the company.

- 8 -