1 March 2023 v2024.42.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP049136962023-03-012024-02-29049136962024-02-29049136962023-02-2804913696core:WithinOneYear2024-02-2904913696core:WithinOneYear2023-02-2804913696core:AfterOneYear2024-02-2904913696core:AfterOneYear2023-02-2804913696core:ShareCapital2024-02-2904913696core:ShareCapital2023-02-2804913696core:OtherReservesSubtotal2024-02-2904913696core:OtherReservesSubtotal2023-02-2804913696core:RetainedEarningsAccumulatedLosses2024-02-2904913696core:RetainedEarningsAccumulatedLosses2023-02-2804913696bus:Director12023-03-012024-02-2904913696bus:RegisteredOffice2023-03-012024-02-2904913696core:PlantMachinery2023-03-012024-02-29049136962022-03-012023-02-2804913696core:LandBuildings2024-02-2904913696core:PlantMachinery2024-02-2904913696core:PlantMachinery2023-03-01049136962023-03-0104913696core:LandBuildings2023-02-2804913696core:PlantMachinery2023-02-280491369612023-03-012024-02-2904913696countries:EnglandWales2023-03-012024-02-2904913696bus:AuditExemptWithAccountantsReport2023-03-012024-02-2904913696bus:PrivateLimitedCompanyLtd2023-03-012024-02-2904913696bus:SmallEntities2023-03-012024-02-2904913696bus:FullAccounts2023-03-012024-02-29
Company registration number:
04913696
Redscape Limited
Unaudited Filleted Financial Statements for the year ended
29 February 2024
Bramble Accounting Solutions Limited
Fern Court Business Centre, Castlegate, Clitheroe, Lancashire, BB7 1AZ, United Kingdom
Redscape Limited
Statement of Financial Position
29 February 2024
20242023
Note££
Fixed assets    
Tangible assets 5
2,565,174
 
2,566,576
 
Current assets    
Debtors 6
15,456
 
4,621
 
Cash at bank and in hand
604,885
 
630,082
 
620,341
 
634,703
 
Creditors: amounts falling due within one year 7
(187,394
)
(132,771
)
Net current assets
432,947
 
501,932
 
Total assets less current liabilities 2,998,121   3,068,508  
Creditors: amounts falling due after more than one year 8
(965,288
)
(1,069,355
)
Provisions for liabilities
(191,381
)
(191,561
)
Net assets
1,841,452
 
1,807,592
 
Capital and reserves    
Called up share capital
5
 
5
 
Other reserves
614,923
 
614,923
 
Profit and loss account
1,226,524
 
1,192,664
 
Shareholders funds
1,841,452
 
1,807,592
 
For the year ending
29 February 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
11 September 2024
, and are signed on behalf of the board by:
Mr A Redshaw
Director
Company registration number:
04913696
Redscape Limited
Notes to the Financial Statements
Year ended
29 February 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
C/O Bramble Accounting Solutions Limited
,
Fern Court Business Centre
,
Castlegate
,
Clitheroe
,
BB7 1AZ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of investment property.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents invoiced rental income from land and property.
Rental income from investment property leased out under operating leases is recognised on a straight-line basis over the term of the lease.
Incentives to enter into rental agreements are spread evenly over the rental term, even if the payments are not made on such a basis. The rental term is the non-cancellable period of the rental agreement, together with any further term for which the tenant has the option to continue the rental agreement, when, at the inception of the rental agreement it is reasonably certain that the tenant will exercise this option.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
20% straight line

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Directors' loans

Loans which are not at a market rate of interest from a director or person who is within a director’s group of close family members, where that group includes at least one shareholder, are measured at the transaction price.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 March 2023
and
29 February 2024
2,561,786
 
7,010
 
2,568,796
 
Depreciation      
At
1 March 2023
-  
2,220
 
2,220
 
Charge -  
1,402
 
1,402
 
At
29 February 2024
-  
3,622
 
3,622
 
Carrying amount      
At
29 February 2024
2,561,786
 
3,388
 
2,565,174
 
At 28 February 2023
2,561,786
 
4,790
 
2,566,576
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 March 2023
and
29 February 2024
2,561,786
 
The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 29 February 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6 Debtors

20242023
££
Trade debtors
11,756
 
1,212
 
Other debtors
3,700
 
3,409
 
15,456
 
4,621
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
65,022
 
62,803
 
Trade creditors
170
 
258
 
Taxation and social security
26,702
 
26,426
 
Other creditors
95,500
 
43,284
 
187,394
 
132,771
 
Bank loans are secured by fixed charges over the company's land and buildings and floating charges over the company's assets.

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
312,753
 
375,819
 
Other creditors
652,535
 
693,536
 
965,288
 
1,069,355
 
Bank loans are secured by fixed charges over the company's land and buildings and floating charges over the company's assets.