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Registration number: 04620797

Redwood Commercials (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Redwood Commercials (UK) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Redwood Commercials (UK) Limited

(Registration number: 04620797)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

85,332

52,306

Current assets

 

Stocks

5

10,000

10,000

Debtors

6

156,215

171,370

Cash at bank and in hand

 

455,256

323,690

 

621,471

505,060

Creditors: Amounts falling due within one year

7

(154,907)

(121,704)

Net current assets

 

466,564

383,356

Total assets less current liabilities

 

551,896

435,662

Provisions for liabilities

(21,334)

(13,077)

Net assets

 

530,562

422,585

Capital and reserves

 

Called up share capital

8

130

130

Retained earnings

530,432

422,455

Shareholders' funds

 

530,562

422,585

For the financial year ending 30 April 2024 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 20 August 2024 and signed on its behalf by:
 

.........................................
G D A Burns-Salmond
Company secretary and director

 

Redwood Commercials (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Trondhiem Way
Redwood Park Estate
Stallingborough
N E Lincs
DN41 8FD

These financial statements were authorised for issue by the Board on 20 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

These accounts have been prepared in sterling and have been rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

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.

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

 

Redwood Commercials (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilties and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicles

25% reducing balance basis

Fixtures and fittings

33% straight line basis

Plant and machinery

15% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

The company contributes into NEST on behalf of its employees.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2023 - 10).

 

Redwood Commercials (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

34,027

111,256

72,383

217,666

Additions

3,478

9,190

42,717

55,385

Disposals

-

-

(23,000)

(23,000)

At 30 April 2024

37,505

120,446

92,100

250,051

Depreciation

At 1 May 2023

20,147

90,908

54,306

165,361

Charge for the year

3,910

3,740

10,615

18,265

Eliminated on disposal

-

-

(18,907)

(18,907)

At 30 April 2024

24,057

94,648

46,014

164,719

Carrying amount

At 30 April 2024

13,448

25,798

46,086

85,332

At 30 April 2023

13,879

20,349

18,078

52,306

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

10,000

10,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

149,857

159,550

Prepayments

6,358

6,261

Other debtors

-

5,559

 

156,215

171,370

 

Redwood Commercials (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

48,089

47,499

Taxation and social security

87,326

39,728

Accruals and deferred income

18,418

3,927

Other creditors

1,074

30,550

154,907

121,704

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

10

10

10

10

Ordinary C of £1 each

10

10

10

10

Ordinary D of £1 each

10

10

10

10

 

130

130

130

130

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,635 (2023 - £6,375).