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Registered Number: SC465116
Scotland

 

 

 

REDMOND LEAD CONTRACTS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Chartered Accountant's report to the Board of Directors on the preparation of the unaudited statutory accounts of Redmond Lead Contracts Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Redmond Lead Contracts Limited for the year ended 31 December 2023 as set out on pages titled Income Statement and Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Redmond Lead Contracts Limited , as a body, in accordance with the terms of our engagement letter dated 05 January 2022.

Our work has been undertaken solely to prepare for your approval the accounts of Redmond Lead Contracts Limited and state those matters that we have agreed to state to the Board of Directors of Redmond Lead Contracts Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redmond Lead Contracts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Redmond Lead Contracts Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Redmond Lead Contracts Limited .

You consider that Redmond Lead Contracts Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Redmond Lead Contracts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




....................................................

Colin Dempster

Colin A Dempster Chartered Accountant
39 Bridge Street
STRATHAVEN
ML10 6AN
22 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 874    7,489 
874    7,489 
Current assets      
Stocks 740    980 
Debtors 16,822    15,180 
Cash at bank and in hand 13,235    3,292 
30,797    19,452 
Creditors: amount falling due within one year (22,204)   (25,131)
Net current assets 8,593    (5,679)
 
Total assets less current liabilities 9,467    1,810 
Creditors: amount falling due after more than one year   (7,529)
Net assets 9,467    (5,719)
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account 9,465    (5,721)
Shareholders' funds 9,467    (5,719)
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 September 2024 and were signed on its behalf by:


-------------------------------
Graham Henry Redmond
Director
2
General Information
Redmond Lead Contracts Limited is a private company, limited by shares, registered in Scotland, registration number SC465116, registration address 39 Bridge Street, Strathaven, Lanarkshire, ML10 6AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention. 
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Government grants received this year consist solely of Employment Incentive Grants managed by South Lanarkshire Council.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 33.33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs only.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 1,998    8,000    182    10,180 
Additions      
Disposals   (8,000)     (8,000)
At 31 December 2023 1,998      182    2,180 
Depreciation
At 01 January 2023 759    1,750    182    2,691 
Charge for year 365        365 
On disposals   (1,750)     (1,750)
At 31 December 2023 1,124      182    1,306 
Net book values
Closing balance as at 31 December 2023 874        874 
Opening balance as at 01 January 2023 1,239    6,250      7,489 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
2 Ordinary shares of £1.00 each  
 

3