Acorah Software Products - Accounts Production 14.3.260 false true 31 March 2022 1 April 2021 true No description of principal activity 1 April 2022 31 March 2023 31 March 2023 12056801 Mr William Redfern iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12056801 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2022-03-31 12056801 frs-core:CurrentFinancialInstruments frs-core:WithinOneYear 2023-03-31 12056801 frs-core:Non-currentFinancialInstruments frs-core:BetweenOneFiveYears 2023-03-31 12056801 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 12056801 frs-core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-04-01 2023-03-31 12056801 frs-core:AllSubsidiaries 2022-04-01 2023-03-31 12056801 frs-core:KeyManagementPersonnel 2022-04-01 2023-03-31 12056801 frs-core:EntitiesControlledByKeyManagementPersonnel 2022-04-01 2023-03-31 12056801 frs-core:OtherRelatedParties 2022-04-01 2023-03-31 12056801 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2022-03-31 12056801 frs-bus:OrdinaryShareClass5 2021-04-01 2022-03-31 12056801 frs-bus:OrdinaryShareClass5 2021-03-31 12056801 frs-bus:OrdinaryShareClass5 2022-03-31 12056801 frs-bus:PreferenceShareClass1 2021-04-01 2022-03-31 12056801 frs-bus:PreferenceShareClass1 2021-03-31 12056801 frs-bus:PreferenceShareClass1 2022-03-31 12056801 frs-bus:PreferenceShareClass2 2021-04-01 2022-03-31 12056801 frs-bus:PreferenceShareClass2 2021-03-31 12056801 frs-bus:PreferenceShareClass2 2022-03-31 12056801 frs-bus:PreferenceShareClass3 2021-04-01 2022-03-31 12056801 frs-bus:PreferenceShareClass3 2021-03-31 12056801 frs-bus:PreferenceShareClass3 2022-03-31 12056801 frs-bus:PreferenceShareClass4 2021-04-01 2022-03-31 12056801 frs-bus:PreferenceShareClass4 2021-03-31 12056801 frs-bus:PreferenceShareClass4 2022-03-31 12056801 frs-bus:PreferenceShareClass5 2021-04-01 2022-03-31 12056801 frs-bus:PreferenceShareClass5 2021-03-31 12056801 frs-bus:PreferenceShareClass5 2022-03-31 12056801 1 2021-04-01 2022-03-31 12056801 1 2022-03-31 12056801 1 2021-04-01 2022-03-31 12056801 frs-core:LeasedAssets 2021-04-01 2022-03-31 12056801 frs-core:OwnedAssets 2021-04-01 2022-03-31 12056801 frs-core:CurrencyRisk 2021-04-01 2022-03-31 12056801 frs-core:MarketRisk 2021-04-01 2022-03-31 12056801 frs-core:InterestRateRisk 2021-04-01 2022-03-31 12056801 frs-core:DeferredTaxation 2021-04-01 2022-03-31 12056801 frs-core:DeferredTaxation 2021-03-31 12056801 frs-core:DeferredTaxation 2022-03-31 12056801 frs-core:OtherProvisionsContingentLiabilities 2021-04-01 2022-03-31 12056801 frs-core:OtherProvisionsContingentLiabilities 2021-03-31 12056801 frs-core:OtherProvisionsContingentLiabilities 2022-03-31 12056801 frs-core:ProvisionsDeferredTax 2022-03-31 12056801 frs-core:OtherDeferredTax 2022-03-31 12056801 frs-core:AcceleratedTaxDepreciationDeferredTax 2022-03-31 12056801 frs-core:TaxLossesCarry-forwardsDeferredTax 2022-03-31 12056801 frs-core:FurtherSpecificItem2DeferredTaxComponentTotalForDeferredTax 2022-03-31 12056801 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2021-04-01 2022-03-31 12056801 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2021-03-31 12056801 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-04-01 2022-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-04-01 2022-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-03-31 12056801 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2022-03-31 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Registered number: 12056801
Reddev Limited
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 March 2023
Lillian Gray Accountants Ltd
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Director Mr William Redfern
Company Number 12056801
Registered Office 17 Kingsway
St Johns Terrace
Bedford
MK42 9BJ
Accountants Lillian Gray Accountants Ltd
17 Kingsway
St John's Terrace
Bedford
Bedfordshire
MK42 9BJ
Page 1
Page 2
Director's Report
The director presents his report and the financial statements for the year ended 31 March 2023 .
Directors
The director who held office during the year were as follows:
Mr William Redfern
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has 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.
On behalf of the board
Mr William Redfern
Director
29/03/2024
Page 2
Page 3
Accountant's Report
Report of the Accountant to the director of Reddev Limited
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023 .
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
29/03/2024
Lillian Gray Accountants Ltd
17 Kingsway
St John's Terrace
Bedford
Bedfordshire
MK42 9BJ
Page 3
Page 4
Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 114,028 78,656
Cost of sales - (490 )
GROSS PROFIT 114,028 78,166
Administrative expenses (55,566 ) (100,860 )
Other operating income - 11,391
OPERATING PROFIT/(LOSS) 58,462 (11,303 )
Interest payable and similar charges (79,659 ) (77,666 )
LOSS BEFORE TAXATION (21,197 ) (88,969 )
Tax on Loss (40,141 ) (190,266 )
LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR (61,338 ) (279,235 )
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,661 859
Investment Properties 5 2,732,671 2,523,085
2,737,332 2,523,944
CURRENT ASSETS
Debtors 7 65,344 207,369
Cash at bank and in hand 12,543 10,654
77,887 218,023
Creditors: Amounts Falling Due Within One Year 8 (819,242 ) (812,384 )
NET CURRENT ASSETS (LIABILITIES) (741,355 ) (594,361 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,995,977 1,929,583
Creditors: Amounts Falling Due After More Than One Year 9 (1,419,485 ) (1,331,895 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (230,408 ) (190,266 )
NET ASSETS 346,084 407,422
CAPITAL AND RESERVES
Called up share capital 10 1 1
Fair Value Reserve 11 748,365 748,365
Profit and Loss Account (402,282 ) (340,944 )
SHAREHOLDERS' FUNDS 346,084 407,422
Page 5
Page 6
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr William Redfern
Director
29/03/2024
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Reddev Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12056801 . The registered office is 17 Kingsway, St Johns Terrace, Bedford, MK42 9BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 7
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2022 1,849
Additions 5,007
As at 31 March 2023 6,856
Depreciation
As at 1 April 2022 990
Provided during the period 1,205
As at 31 March 2023 2,195
Net Book Value
As at 31 March 2023 4,661
As at 1 April 2022 859
5. Investment Property
2023
£
Fair Value
As at 1 April 2022 2,523,085
Additions 209,586
As at 31 March 2023 2,732,671
7. Debtors
2023 2022
£ £
Due within one year
Amounts owed by associates 65,344 207,369
65,344 207,369
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 2
Bank loans and overdrafts 4,711 5,000
Other creditors 800 12,800
Mortgage Lender - Oaratus - Kingsway 423,715 192,079
Accruals and deferred income - 9,720
Director's loan account 323,351 310,014
Amounts owed to associates 66,665 282,769
819,242 812,384
Page 8
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 42,008 44,583
Loan - John Roger Boughey 295,000 315,000
Mortgage Lender - Keystone 2a Alexandra Road 292,904 292,904
Mortgage lender - Paragon 2 Alexandra Road 209,393 209,393
Mortgage lender - Foundation Homes- 50 Dover Crescent 116,215 106,050
Mortgage lender - Gatehouse 224,000 124,000
Mortgage lender - Paratus 16 Green Bank 239,965 239,965
1,419,485 1,331,895
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Reserves
Fair Value Reserve
£
As at 1 April 2022 748,365
As at 31 March 2023 748,365
12. Related Party Transactions
Tequila Developments LimitedA Company controlled by the Director William RedfernIncluded in debtors is an amount owed of £47,591 (2022 £4,290)

Tequila Developments Limited

A Company controlled by the Director William Redfern

Included in debtors is an amount owed of £47,591 (2022 £4,290)

Golden Goose Travel LtdA Company controlled by the Director William RedfernIncluded in debtors is an amount owed of £15,000 (2022 £11,000)

Golden Goose Travel Ltd

A Company controlled by the Director William Redfern

Included in debtors is an amount owed of £15,000 (2022 £11,000)

Mojito Construction LimitedA Company controlled by the Director William RedfernIncluded in creditor is an amount owing of £66,665 (2022 £96,190)

Mojito Construction Limited

A Company controlled by the Director William Redfern

Included in creditor is an amount owing of £66,665 (2022 £96,190)

Ferndev LtdA Company controlled by the Director William RedfernIncluded in debtors is an amount owed of £2,752 (2022 creditor £186,579)

Ferndev Ltd

A Company controlled by the Director William Redfern

Included in debtors is an amount owed of £2,752 (2022 creditor £186,579)

Page 9