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REGISTERED NUMBER: 06425672 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

REDWOOD ESTATE AGENTS LIMITED

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REDWOOD ESTATE AGENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Miss N R Wijewardene





REGISTERED OFFICE: 6 Green Lane
Redruth
Cornwall
TR15 1JT





REGISTERED NUMBER: 06425672 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

BALANCE SHEET
31 MARCH 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,117 1,282
2,117 1,282

CURRENT ASSETS
Debtors 6 50,548 20,429
Cash at bank and in hand 78,365 90,542
128,913 110,971
CREDITORS
Amounts falling due within one year 7 30,436 23,211
NET CURRENT ASSETS 98,477 87,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

100,594

89,042

PROVISIONS FOR LIABILITIES 273 86
NET ASSETS 100,321 88,956

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 100,221 88,856
SHAREHOLDERS' FUNDS 100,321 88,956

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 14 August 2024 and were signed by:





Miss N R Wijewardene - Director


REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Redwood Estate Agents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 86,000
AMORTISATION
At 1 April 2023
and 31 March 2024 86,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 1,674 8,351 10,025
Additions 2,000 - 2,000
Disposals - (870 ) (870 )
At 31 March 2024 3,674 7,481 11,155
DEPRECIATION
At 1 April 2023 726 8,017 8,743
Charge for year 840 325 1,165
Eliminated on disposal - (870 ) (870 )
At 31 March 2024 1,566 7,472 9,038
NET BOOK VALUE
At 31 March 2024 2,108 9 2,117
At 31 March 2023 948 334 1,282

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 22,767 20,429
Directors' current accounts 27,781 -
50,548 20,429

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 4,102 3,515
Tax 7,805 1,823
Social security and other taxes 2,188 121
Pension creditor 464 -
VAT 13,455 6,427
Directors' current accounts - 9,454
Accrued expenses 2,422 1,871
30,436 23,211

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 April 2023 88,856
Profit for the year 34,072
Dividends (22,707 )
At 31 March 2024 100,221

10. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £6,375 (2023: £2,160).

REDWOOD ESTATE AGENTS LIMITED (REGISTERED NUMBER: 06425672)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
Miss N R Wijewardene
Balance outstanding at start of year (9,454 ) (5,731 )
Amounts advanced 108,142 34,072
Amounts repaid (70,907 ) (37,795 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,781 (9,454 )