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REGISTERED NUMBER: 15205241 (England and Wales)










FINANCIAL STATEMENTS

FOR THE PERIOD 11 OCTOBER 2023 TO 30 APRIL 2024

FOR

REDWORX MEP LIMITED

REDWORX MEP LIMITED (REGISTERED NUMBER: 15205241)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 11 OCTOBER 2023 TO 30 APRIL 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


REDWORX MEP LIMITED (REGISTERED NUMBER: 15205241)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 4,376

CURRENT ASSETS
Debtors 5 1,137,854
Cash at bank 588,142
1,725,996
CREDITORS
Amounts falling due within one year 6 1,383,265
NET CURRENT ASSETS 342,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,107

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 347,007
347,107

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mr G A Herbert - Director


REDWORX MEP LIMITED (REGISTERED NUMBER: 15205241)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 11 OCTOBER 2023 TO 30 APRIL 2024

1. STATUTORY INFORMATION

Redworx Mep Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 15205241

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is 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 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.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 20% on reducing balance method
Fixtures and fittings - 20% on reducing balance method

The company has adopted the policy of depreciating the assets in the first year, however no depreciation is provided in the year of disposal.


REDWORX MEP LIMITED (REGISTERED NUMBER: 15205241)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 11 OCTOBER 2023 TO 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Construction contracts
Amount recoverable on contracts, including work-in-progress, are shown within debtors and are stated at the net sales value of the work done after provisions for contingencies and anticipated future loss on contracts, less amount received as progress payments on account. Turnover and related costs are recorded as contract activity progresses. An appropriate proportion of anticipated contract profit or loss is recognised as the contract activity progresses commensurate with the performance and anticipated final outcome. Excess progress payments are included in creditors as payments received on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 9 .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
Additions 413 4,541 4,954
At 30 April 2024 413 4,541 4,954
DEPRECIATION
Charge for period 48 530 578
At 30 April 2024 48 530 578
NET BOOK VALUE
At 30 April 2024 365 4,011 4,376

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 220,027
Amounts recoverable on contract 820,232
Other debtors 97,595
1,137,854

REDWORX MEP LIMITED (REGISTERED NUMBER: 15205241)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 11 OCTOBER 2023 TO 30 APRIL 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,083,737
Taxation and social security 190,813
Other creditors 108,715
1,383,265

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alex Christofi (Senior Statutory Auditor)
AGK Partners AGK Partners

8. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £80,853 due to the directors of the company. The amount is interest-free and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G A Herbert.