Company registration number 14476782 (England and Wales)
Redfearn And Beaumont Limited
Unaudited financial statements
For the period ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Redfearn And Beaumont Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Redfearn And Beaumont Limited
Statement of financial position
As at 31 December 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investments
3
2,132,328
Current assets
Debtors
4
193,999
Creditors: amounts falling due within one year
5
(359,334)
Net current liabilities
(165,335)
Total assets less current liabilities
1,966,993
Creditors: amounts falling due after more than one year
6
(1,718,210)
Net assets
248,783
Capital and reserves
Called up share capital
7
100,000
Profit and loss reserves
148,783
Total equity
248,783

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 September 2024 and are signed on its behalf by:
Mr B D Redfearn
Director
Company registration number 14476782 (England and Wales)
Redfearn and Beaumont Limited
Redfearn And Beaumont Limited
Notes to the financial statements
For the period ended 31 December 2023
- 2 -
1
Accounting policies
Company information

Redfearn and Beaumont Limited is a private company limited by shares incorporated in England and Wales. The registered office is Oakley House, 1 Hungerford Road, Edgerton, Huddersfield, West Yorkshire, England, HD3 3AL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Redfearn and Beaumont Limited
Redfearn And Beaumont Limited
Notes to the financial statements (continued)
For the period ended 31 December 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons employed by the company during the period was Nil.

3
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
2,132,328
Redfearn and Beaumont Limited
Redfearn And Beaumont Limited
Notes to the financial statements (continued)
For the period ended 31 December 2023
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 10 November 2022
-
Additions
2,132,328
At 31 December 2023
2,132,328
Carrying amount
At 31 December 2023
2,132,328
4
Debtors
2023
Amounts falling due within one year:
£
Amounts owed by group undertakings
193,999
5
Creditors: amounts falling due within one year
2023
£
Bank loans and overdrafts
307,810
Taxation and social security
50,324
Other creditors
1,200
359,334

Amounts of £278,727 due under bank loans and overdrafts are secured by a fixed and floating charge over the assets of the company.

6
Creditors: amounts falling due after more than one year
2023
£
Bank loans and overdrafts
688,508
Other creditors
1,029,702
1,718,210

The amounts due under bank loans and overdrafts and other creditors are secured by fixed and floating charges over the assets of the company.

Redfearn and Beaumont Limited
Redfearn And Beaumont Limited
Notes to the financial statements (continued)
For the period ended 31 December 2023
- 5 -
7
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary of £1 each
25,000
25,000
B Ordinary of £1 each
25,000
25,000
C Ordinary of £1 each
25,000
25,000
D Ordinary of £1 each
25,000
25,000
100,000
100,000
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