REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 11 OCTOBER 2023 TO 30 APRIL 2024 |
FOR |
REDWORX MEP LIMITED |
REGISTERED NUMBER: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
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 |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
Additions |
At 30 April 2024 |
DEPRECIATION |
Charge for period |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
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 |
Taxation and social security |
Other creditors |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
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. |