Company Registration No. 03016251 (England and Wales)
Redrose Manufacturing Limited
Unaudited accounts
for the year ended 30 September 2023
Redrose Manufacturing Limited
Unaudited accounts
Contents
Redrose Manufacturing Limited
Company Information
for the year ended 30 September 2023
Directors
Miss N Mahan
Mr T Mahan
Mr D Goodings
Company Number
03016251 (England and Wales)
Registered Office
Unit 21A&B Cherry Way
Dubmire Industrial Estate
Houghton Le Spring
County Durham
DH4 5RJ
Accountants
Harwood Business Services Limited
Woodstock
Felton
Morpeth
Northumberland
NE65 9HP
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Redrose Manufacturing Limited for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Redrose Manufacturing Limited for the year ended
30 September 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Harwood Business Services Limited
Chartered Accountants
Woodstock
Felton
Morpeth
Northumberland
NE65 9HP
7 August 2024
Redrose Manufacturing Limited
Statement of financial position
as at 30 September 2023
Tangible assets
425,495
411,106
Inventories
762,918
870,100
Cash at bank and in hand
1,210,073
3,218,113
Creditors: amounts falling due within one year
(236,923)
(439,750)
Net current assets
2,281,377
3,972,422
Total assets less current liabilities
2,706,872
4,383,528
Provisions for liabilities
Deferred tax
(100,238)
(72,423)
Net assets
2,606,634
4,311,105
Called up share capital
50
61
Share premium
99,989
99,989
Capital redemption reserve
61
50
Profit and loss account
2,506,534
4,211,005
Shareholders' funds
2,606,634
4,311,105
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by
Miss N Mahan
Director
Company Registration No. 03016251
Redrose Manufacturing Limited
Notes to the Accounts
for the year ended 30 September 2023
Redrose Manufacturing Limited is a private company, limited by shares, registered in England and Wales, registration number 03016251. The registered office is Unit 21A&B Cherry Way, Dubmire Industrial Estate, Houghton Le Spring, County Durham, DH4 5RJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line basis
Inventories are valued at the lower of cost and estimated selling price less costs to sell.
Foreign currency transactions
Transactions denominated in foreign currencies are translated into sterling and recoded at the rate of exchange ruling at the date of the transaction.
Balances at the year end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
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 and 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.
Current and deferred tax assets and liabilities are not discounted.
Redrose Manufacturing Limited
Notes to the Accounts
for the year ended 30 September 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account in the period in which they are incurred.
4
Tangible fixed assets
Plant & machinery
At 1 October 2022
1,721,812
At 30 September 2023
1,956,908
At 1 October 2022
1,310,706
Charge for the year
220,707
At 30 September 2023
1,531,413
At 30 September 2023
425,495
At 30 September 2022
411,106
Amounts falling due within one year
Trade debtors
68,322
20,462
Other debtors
476,987
303,497
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
43,493
72,045
Taxes and social security
139,385
324,472
Other creditors
42,445
33,233
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50
61
Redrose Manufacturing Limited
Notes to the Accounts
for the year ended 30 September 2023
8
Operating lease commitments
2023
2022
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
80,064
-
Later than one year and not later than five years
-
210,372
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan
186,000
150,000
-
336,000
Director's Loan
5,998
-
-
5,998
191,998
150,000
-
341,998
The above loans are interest free, unsecured and repayable on demand.
10
Transactions with related parties
Included within other debtors is an interest free loan of £Nil (2022: £19,872) to Mr A J Beautiman, who was a shareholder.
During the year the Company purchased and cancelled 11 Ordinary Shares previously held by Mr A J Beautiman.
11
Average number of employees
During the year the average number of employees was 28 (2022: 31).