Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activityfalse55falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4656891 2023-04-01 2024-03-31 4656891 2022-04-01 2023-03-31 4656891 2024-03-31 4656891 2023-03-31 4656891 c:Director1 2023-04-01 2024-03-31 4656891 d:Buildings 2023-04-01 2024-03-31 4656891 d:PlantMachinery 2023-04-01 2024-03-31 4656891 d:PlantMachinery 2024-03-31 4656891 d:PlantMachinery 2023-03-31 4656891 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 4656891 d:MotorVehicles 2023-04-01 2024-03-31 4656891 d:MotorVehicles 2024-03-31 4656891 d:MotorVehicles 2023-03-31 4656891 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 4656891 d:OfficeEquipment 2023-04-01 2024-03-31 4656891 d:OfficeEquipment 2024-03-31 4656891 d:OfficeEquipment 2023-03-31 4656891 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 4656891 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 4656891 d:CurrentFinancialInstruments 2024-03-31 4656891 d:CurrentFinancialInstruments 2023-03-31 4656891 d:Non-currentFinancialInstruments 2024-03-31 4656891 d:Non-currentFinancialInstruments 2023-03-31 4656891 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 4656891 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 4656891 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 4656891 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 4656891 d:ShareCapital 2024-03-31 4656891 d:ShareCapital 2023-03-31 4656891 d:RetainedEarningsAccumulatedLosses 2024-03-31 4656891 d:RetainedEarningsAccumulatedLosses 2023-03-31 4656891 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 4656891 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 4656891 c:FRS102 2023-04-01 2024-03-31 4656891 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 4656891 c:FullAccounts 2023-04-01 2024-03-31 4656891 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 4656891 2 2023-04-01 2024-03-31 4656891 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 4656891 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 4656891 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 4656891









J.P. REDMAN & SON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
J.P. REDMAN & SON LIMITED
REGISTERED NUMBER: 4656891

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
30,452
38,116

  
30,452
38,116

Current assets
  

Stocks
  
477,656
260,707

Cash at bank and in hand
 5 
23,189
79,550

  
500,845
340,257

Creditors: amounts falling due within one year
 6 
(416,606)
(232,232)

Net current assets
  
 
 
84,239
 
 
108,025

Total assets less current liabilities
  
114,691
146,141

Creditors: amounts falling due after more than one year
 7 
(2,067)
(5,168)

Provisions for liabilities
  

Deferred tax
 10 
(5,786)
(7,242)

  
 
 
(5,786)
 
 
(7,242)

Net assets
  
106,838
133,731


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
106,837
133,730

  
106,838
133,731


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
J.P. REDMAN & SON LIMITED
REGISTERED NUMBER: 4656891
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 August 2024.






J.P. Redman
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

J.P.Redman & Son Limited (company number 4656891) is a private company limited by shares, registered in England and Wales.  Its registered office is at Bushbury House, 435 Wilmslow Road, Withington, Manchester, M20 4AF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Site offices
-
15%
Tools and equipment
-
25%
Motor vehicles
-
25%
Office furniture
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 6

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

2024
2023
£
£

Wages and salaries
134,717
134,281

134,717
134,281


The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 7

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
87,065
46,211
7,424
140,700


Additions
-
-
2,086
2,086



At 31 March 2024

87,065
46,211
9,510
142,786



Depreciation


At 1 April 2023
64,920
31,148
6,516
102,584


Charge for the year on owned assets
5,536
3,765
449
9,750



At 31 March 2024

70,456
34,913
6,965
112,334



Net book value



At 31 March 2024
16,609
11,298
2,545
30,452



At 31 March 2023
22,145
15,063
908
38,116


5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,189
79,550

23,189
79,550


Page 8

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
15,112
14,361

Corporation tax
-
3,600

Other taxation and social security
7,499
12,396

Obligations under finance lease and hire purchase contracts
3,100
3,100

Other creditors
387,045
194,835

Accruals and deferred income
3,850
3,940

416,606
232,232



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
2,067
5,168

2,067
5,168



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£

 
-
 
-


9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
23,189
79,550




Financial assets measured at fair value through profit or loss comprise of cash at bank

Page 9

 
J.P. REDMAN & SON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024


£






At beginning of year
(7,242)


Charged to profit or loss
1,456



At end of year
(5,786)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(5,786)
(7,242)

(5,786)
(7,242)


11.


Related party transactions

During the year sales totalling £1,149 (2023 - £95) were made to Mr.P.Jenkins & Mr J.P.Redman for repairs on a investment property, in which the director Mr J.P.Redman has a 72.68% share. Included in other creditors is loan from Mr J P Redman of £386,865 (2023: £194,738) which is repayable on demand and interest free,

 
Page 10