2022-04-012023-03-312023-03-31false03538263REDDY & CO LIMITED2023-12-23iso4217:GBPxbrli:pure035382632022-04-01035382632023-03-31035382632022-04-012023-03-31035382632021-04-01035382632022-03-31035382632021-04-012022-03-3103538263bus:SmallEntities2022-04-012023-03-3103538263bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3103538263bus:FullAccounts2022-04-012023-03-3103538263bus:PrivateLimitedCompanyLtd2022-04-012023-03-3103538263core:WithinOneYear2023-03-3103538263core:AfterOneYear2023-03-3103538263core:WithinOneYear2022-03-3103538263core:AfterOneYear2022-03-3103538263core:ShareCapital2023-03-3103538263core:SharePremium2023-03-3103538263core:RevaluationReserve2023-03-3103538263core:OtherReservesSubtotal2023-03-3103538263core:RetainedEarningsAccumulatedLosses2023-03-3103538263core:ShareCapital2022-03-3103538263core:SharePremium2022-03-3103538263core:RevaluationReserve2022-03-3103538263core:OtherReservesSubtotal2022-03-3103538263core:RetainedEarningsAccumulatedLosses2022-03-3103538263core:LandBuildings2023-03-3103538263core:PlantMachinery2023-03-3103538263core:Vehicles2023-03-3103538263core:FurnitureFittings2023-03-3103538263core:OfficeEquipment2023-03-3103538263core:NetGoodwill2023-03-3103538263core:IntangibleAssetsOtherThanGoodwill2023-03-3103538263core:ListedExchangeTraded2023-03-3103538263core:UnlistedNon-exchangeTraded2023-03-3103538263core:LandBuildings2022-03-3103538263core:PlantMachinery2022-03-3103538263core:Vehicles2022-03-3103538263core:FurnitureFittings2022-03-3103538263core:OfficeEquipment2022-03-3103538263core:NetGoodwill2022-03-3103538263core:IntangibleAssetsOtherThanGoodwill2022-03-3103538263core:ListedExchangeTraded2022-03-3103538263core:UnlistedNon-exchangeTraded2022-03-3103538263core:LandBuildings2022-04-012023-03-3103538263core:PlantMachinery2022-04-012023-03-3103538263core:Vehicles2022-04-012023-03-3103538263core:FurnitureFittings2022-04-012023-03-3103538263core:OfficeEquipment2022-04-012023-03-3103538263core:NetGoodwill2022-04-012023-03-3103538263core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103538263core:ListedExchangeTraded2022-04-012023-03-3103538263core:UnlistedNon-exchangeTraded2022-04-012023-03-3103538263core:MoreThanFiveYears2022-04-012023-03-3103538263core:Non-currentFinancialInstruments2023-03-3103538263core:Non-currentFinancialInstruments2022-03-3103538263dpl:CostSales2022-04-012023-03-3103538263dpl:DistributionCosts2022-04-012023-03-3103538263core:LandBuildings2022-04-012023-03-3103538263core:PlantMachinery2022-04-012023-03-3103538263core:Vehicles2022-04-012023-03-3103538263core:FurnitureFittings2022-04-012023-03-3103538263core:OfficeEquipment2022-04-012023-03-3103538263dpl:AdministrativeExpenses2022-04-012023-03-3103538263core:NetGoodwill2022-04-012023-03-3103538263core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3103538263dpl:GroupUndertakings2022-04-012023-03-3103538263dpl:ParticipatingInterests2022-04-012023-03-3103538263dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3103538263core:ListedExchangeTraded2022-04-012023-03-3103538263dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3103538263core:UnlistedNon-exchangeTraded2022-04-012023-03-3103538263dpl:CostSales2021-04-012022-03-3103538263dpl:DistributionCosts2021-04-012022-03-3103538263core:LandBuildings2021-04-012022-03-3103538263core:PlantMachinery2021-04-012022-03-3103538263core:Vehicles2021-04-012022-03-3103538263core:FurnitureFittings2021-04-012022-03-3103538263core:OfficeEquipment2021-04-012022-03-3103538263dpl:AdministrativeExpenses2021-04-012022-03-3103538263core:NetGoodwill2021-04-012022-03-3103538263core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3103538263dpl:GroupUndertakings2021-04-012022-03-3103538263dpl:ParticipatingInterests2021-04-012022-03-3103538263dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3103538263core:ListedExchangeTraded2021-04-012022-03-3103538263dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3103538263core:UnlistedNon-exchangeTraded2021-04-012022-03-3103538263core:NetGoodwill2023-03-3103538263core:IntangibleAssetsOtherThanGoodwill2023-03-3103538263core:LandBuildings2023-03-3103538263core:PlantMachinery2023-03-3103538263core:Vehicles2023-03-3103538263core:FurnitureFittings2023-03-3103538263core:OfficeEquipment2023-03-3103538263core:AfterOneYear2023-03-3103538263core:WithinOneYear2023-03-3103538263core:ListedExchangeTraded2023-03-3103538263core:UnlistedNon-exchangeTraded2023-03-3103538263core:ShareCapital2023-03-3103538263core:SharePremium2023-03-3103538263core:RevaluationReserve2023-03-3103538263core:OtherReservesSubtotal2023-03-3103538263core:RetainedEarningsAccumulatedLosses2023-03-3103538263core:NetGoodwill2022-03-3103538263core:IntangibleAssetsOtherThanGoodwill2022-03-3103538263core:LandBuildings2022-03-3103538263core:PlantMachinery2022-03-3103538263core:Vehicles2022-03-3103538263core:FurnitureFittings2022-03-3103538263core:OfficeEquipment2022-03-3103538263core:AfterOneYear2022-03-3103538263core:WithinOneYear2022-03-3103538263core:ListedExch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REDDY & CO LIMITED

Registered Number
03538263
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

REDDY & CO LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

REDDY, Dwarampudi Rama Krishna

Company Secretary

REDDY, Dwarampudi Divya Tulasi

Registered Address

10 Browning Road
Preston
PR1 5SH

Registered Number

03538263 (England and Wales)
REDDY & CO LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets71,162,6531,149,568
1,162,6531,149,568
Current assets
Debtors811,82312,734
Cash at bank and on hand13,518722
25,34113,456
Creditors amounts falling due within one year9(406,803)(365,045)
Net current assets (liabilities)(381,462)(351,589)
Total assets less current liabilities781,191797,979
Creditors amounts falling due after one year10(532,853)(589,170)
Net assets248,338208,809
Capital and reserves
Called up share capital100100
Profit and loss account248,238208,709
Shareholders' funds248,338208,809
The financial statements were approved and authorised for issue by the Director on 23 December 2023, and are signed on its behalf by:
REDDY, Dwarampudi Rama Krishna
Director
Registered Company No. 03538263
REDDY & CO LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The company's principal activity during the year continued to be that of investment in properties and receipt of rental income. The director is constantly searching to upgrade and expand the property of the company.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year23
7.Property, plant and equipment

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 April 221,148,64816,3361,164,984
Additions13,269-13,269
At 31 March 231,161,91716,3361,178,253
Depreciation and impairment
At 01 April 22-15,41615,416
Charge for year-184184
At 31 March 23-15,60015,600
Net book value
At 31 March 231,161,9177361,162,653
At 31 March 221,148,6489201,149,568
8.Debtors

2023

2022

££
Deferred tax asset, debtors11,82312,734
Total11,82312,734
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables42,77613,250
Bank borrowings and overdrafts62,54371,126
Taxation and social security20,05710,867
Other creditors281,366269,725
Accrued liabilities and deferred income6177
Total406,803365,045
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts532,853589,170
Total532,853589,170
11.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.