Company Registration No. 07303852 (England and Wales)
REDIF LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
REDIF LIMITED
COMPANY INFORMATION
Directors
Mr N J Thompson
Mrs C M Thompson
Company number
07303852
Registered office
Alpha House
4 Greek St
Stockport
Cheshire
United Kingdom
SK3 8AB
Accountants
Azets
Alpha House
4 Greek St
Stockport
Cheshire
United Kingdom
SK3 8AB
REDIF LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
REDIF LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
564
2,115
Cash at bank and in hand
34
464
598
2,579
Creditors: amounts falling due within one year
6
(2,105)
(1,955)
Net current (liabilities)/assets
(1,507)
624
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,607)
524
Total equity
(1,507)
624

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 1 March 2024 and are signed on its behalf by:
Mr N J Thompson
Director
Company Registration No. 07303852
REDIF LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Redif Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alpha House, 4 Greek St, Stockport, Cheshire, United Kingdom, SK3 8AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33.33% per annum straight line on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

REDIF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 2

REDIF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
1,897
Disposals
(1,897)
At 31 July 2023
-
0
Depreciation and impairment
At 1 August 2022
1,897
Eliminated in respect of disposals
(1,897)
At 31 July 2023
-
0
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
-
0
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,135
Corporation tax recoverable
564
-
0
Other debtors
-
0
980
564
2,115
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
2,105
1,955
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