Red Heel Holdings Ltd 07966736 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is the holding company of a trading group. Digita Accounts Production Advanced 6.30.9574.0 true false true 07966736 2022-12-01 2023-11-30 07966736 2023-11-30 07966736 core:RetainedEarningsAccumulatedLosses 2023-11-30 07966736 core:ShareCapital 2023-11-30 07966736 core:SharePremium 2023-11-30 07966736 core:CurrentFinancialInstruments 2023-11-30 07966736 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 07966736 core:FurnitureFittingsToolsEquipment 2023-11-30 07966736 bus:SmallEntities 2022-12-01 2023-11-30 07966736 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07966736 bus:FilletedAccounts 2022-12-01 2023-11-30 07966736 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07966736 bus:RegisteredOffice 2022-12-01 2023-11-30 07966736 bus:Director1 2022-12-01 2023-11-30 07966736 bus:Director2 2022-12-01 2023-11-30 07966736 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07966736 core:ComputerEquipment 2022-12-01 2023-11-30 07966736 core:FurnitureFittings 2022-12-01 2023-11-30 07966736 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 07966736 countries:AllCountries 2022-12-01 2023-11-30 07966736 2022-11-30 07966736 core:CostValuation 2022-11-30 07966736 core:FurnitureFittingsToolsEquipment 2022-11-30 07966736 2021-12-01 2022-11-30 07966736 2022-11-30 07966736 core:RetainedEarningsAccumulatedLosses 2022-11-30 07966736 core:ShareCapital 2022-11-30 07966736 core:SharePremium 2022-11-30 07966736 core:CurrentFinancialInstruments 2022-11-30 07966736 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 07966736 core:FurnitureFittingsToolsEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 07966736

Red Heel Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Red Heel Holdings Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Red Heel Holdings Ltd

Company Information

Directors

Mr Daniel Lee

Mr Mark Nicholas Herd

Registered office

Unit 8
Mitton Road Business Park
Mitton Road
Whalley
Lancashire
BB7 9YE

 

Red Heel Holdings Ltd

(Registration number: 07966736)
Balance Sheet as at 30 November 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

23,607

28,834

Investments

5

1,002,000

1,002,000

 

1,025,607

1,030,834

Current assets

 

Debtors

6

461

54,000

Cash at bank and in hand

 

1,099

1,099

 

1,560

55,099

Creditors: Amounts falling due within one year

7

(2,546)

(1,093)

Net current (liabilities)/assets

 

(986)

54,006

Total assets less current liabilities

 

1,024,621

1,084,840

Provisions for liabilities

(2,109)

(3,578)

Net assets

 

1,022,512

1,081,262

Capital and reserves

 

Called up share capital

2,100

2,100

Share premium reserve

999,000

999,000

Retained earnings

21,412

80,162

Shareholders' funds

 

1,022,512

1,081,262

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

 

Red Heel Holdings Ltd

(Registration number: 07966736)
Balance Sheet as at 30 November 2023

.........................................
Mr Mark Nicholas Herd
Director

 

Red Heel Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 8
Mitton Road Business Park
Mitton Road
Whalley
Lancashire
BB7 9YE
England and Wales

These financial statements were authorised for issue by the Board on 29 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or 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.

 

Red Heel Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Computer equipment

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Red Heel Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Red Heel Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

138,847

138,847

At 30 November 2023

138,847

138,847

Depreciation

At 1 December 2022

110,013

110,013

Charge for the year

5,227

5,227

At 30 November 2023

115,240

115,240

Carrying amount

At 30 November 2023

23,607

23,607

At 30 November 2022

28,834

28,834

5

Investments

2023
£

2022
£

Investments in subsidiaries

1,002,000

1,002,000

Subsidiaries

£

Cost or valuation

At 1 December 2022

1,002,000

Provision

Carrying amount

At 30 November 2023

1,002,000

At 30 November 2022

1,002,000

6

Debtors

Current

Note

2023
£

(As restated)

2022
£

Directors loan accounts

461

54,000

   

461

54,000

 

Red Heel Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

1,393

13

Accruals and deferred income

 

1,153

1,080

 

2,546

1,093