Silverfin false false 30/06/2023 01/07/2022 30/06/2023 T Gidley 14/06/2016 M Slotover 14/06/2016 29 September 2023 The principal activity of the Company is that of property development. 10230169 2023-06-30 10230169 bus:Director1 2023-06-30 10230169 bus:Director2 2023-06-30 10230169 2022-06-30 10230169 core:CurrentFinancialInstruments 2023-06-30 10230169 core:CurrentFinancialInstruments 2022-06-30 10230169 core:ShareCapital 2023-06-30 10230169 core:ShareCapital 2022-06-30 10230169 core:RetainedEarningsAccumulatedLosses 2023-06-30 10230169 core:RetainedEarningsAccumulatedLosses 2022-06-30 10230169 core:CurrentFinancialInstruments 10 2023-06-30 10230169 core:CurrentFinancialInstruments 10 2022-06-30 10230169 bus:OrdinaryShareClass1 2023-06-30 10230169 2022-07-01 2023-06-30 10230169 bus:FilletedAccounts 2022-07-01 2023-06-30 10230169 bus:SmallEntities 2022-07-01 2023-06-30 10230169 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 10230169 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 10230169 bus:Director1 2022-07-01 2023-06-30 10230169 bus:Director2 2022-07-01 2023-06-30 10230169 2021-07-01 2022-06-30 10230169 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 10230169 bus:OrdinaryShareClass1 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10230169 (England and Wales)

REREDUX LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

REREDUX LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

REREDUX LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
REREDUX LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 30.06.2023 30.06.2022
£ £
Current assets
Stocks 3 1,146,866 1,141,906
Debtors 4 18,889 36,890
Cash at bank and in hand 5 3,482 240,681
1,169,237 1,419,477
Creditors: amounts falling due within one year 6 ( 990,567) ( 1,173,529)
Net current assets 178,670 245,948
Total assets less current liabilities 178,670 245,948
Net assets 178,670 245,948
Capital and reserves
Called-up share capital 7 10,000 10,000
Profit and loss account 168,670 235,948
Total shareholder's funds 178,670 245,948

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Reredux Ltd (registered number: 10230169) were approved and authorised for issue by the Director. They were signed on its behalf by:

T Gidley
Director

29 September 2023

REREDUX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
REREDUX LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Reredux Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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. Employees

30.06.2023 30.06.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Stocks

30.06.2023 30.06.2022
£ £
Work in progress 1,146,866 1,141,906

4. Debtors

30.06.2023 30.06.2022
£ £
Trade debtors 0 500
Other taxation and social security 18,889 18,293
Other debtors 0 18,097
18,889 36,890

5. Cash and cash equivalents

30.06.2023 30.06.2022
£ £
Cash at bank and in hand 3,482 240,681

6. Creditors: amounts falling due within one year

30.06.2023 30.06.2022
£ £
Other taxation and social security 316 2,386
Other creditors 990,251 1,171,143
990,567 1,173,529

7. Called-up share capital

30.06.2023 30.06.2022
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000