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Registration number: 14215837

Redline Motorcycles Holdings Limited

Unaudited Filleted Financial Statements

for the Period from 5 July 2022 to 30 April 2023

 

Redline Motorcycles Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Redline Motorcycles Holdings Limited

Company Information

Director

Mr Nathan Thomas Preston

Registered office

Unit 8 Prince William Way
Loughborough
Leicestershire
LE11 5DD

 

Redline Motorcycles Holdings Limited

(Registration number: 14215837)
Balance Sheet as at 30 April 2023

Note

2023
£

Fixed assets

 

Investments

4

641,323

Current assets

 

Debtors

28,309

Cash at bank and in hand

 

100

 

28,409

Creditors: Amounts falling due within one year

(74,000)

Net current liabilities

 

(45,591)

Total assets less current liabilities

 

595,732

Creditors: Amounts falling due after more than one year

(595,632)

Net assets

 

100

Capital and reserves

 

Called up share capital

5

100

Shareholders' funds

 

100

For the financial period ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2023
 

.........................................
Mr Nathan Thomas Preston
Director

 

Redline Motorcycles Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 30 April 2023

1

General information

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

The address of its registered office is:
Unit 8 Prince William Way
Loughborough
Leicestershire
LE11 5DD
England

These financial statements were authorised for issue by the director on 10 October 2023.

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).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Exemption from preparing group accounts

The financial statements contain information about Redline Motorcycles Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group.
The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Redline Motorcycles Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 30 April 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Investments

2023
£

Investments in subsidiaries

641,323

Subsidiaries

£

Cost or valuation

Additions

641,323

Provision

Carrying amount

At 30 April 2023

641,323

 

Redline Motorcycles Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 30 April 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

Subsidiary undertakings

Redline Motorcycles Limited

Unit 8 Prince William Way, Loughborough, Leicestershire, LE11 5DD

England & Wales

Ordinary shares

100%

5

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary of £1 each

100

100

     

6

Loans and borrowings

2023
£

Non-current loans and borrowings

Bank borrowings

595,632

7

Related party transactions

Summary of transactions with subsidiaries

Redline Motorcycles Limited

During the year the company received dividends of £50,772 from its subsidiary, Redline Motorcycles Limited.

Loans to related parties

 

Redline Motorcycles Holdings Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2022 to 30 April 2023

2023

Subsidiary
£

Total
£

Advanced

32,424

32,424

At end of period

32,424

32,424