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REGISTERED NUMBER: NI051833 (Northern Ireland)















REDCHERRY INVESTMENTS LIMITED

Financial Statements for the Year Ended 31 December 2023






REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


REDCHERRY INVESTMENTS LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B McDermott
A McDermott
A McDermott
A McDermott



REGISTERED OFFICE: 87 Goland Road
Ballygawley
Dungannon
Co. Tyrone
BT70 2LA



REGISTERED NUMBER: NI051833 (Northern Ireland)



INDEPENDENT AUDITORS: CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP



BANKERS: HSBC
1 Dublin Road
Omagh
Co. Tyrone
BT78 1ES



SOLICITORS: Simmons Meglaughlin & Orr
20 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)

Statement of Financial Position
31 DECEMBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Investments 5 1,002,002 1,002,002

CURRENT ASSETS
Receivables: Amounts falling
within one year 6 350,000 -
Cash at bank 891 1,071
350,891 1,071
PAYABLES
Amounts falling due within one year 7 (735,083 ) (377,258 )
NET CURRENT LIABILITIES (384,192 ) (376,187 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,810

625,815

CAPITAL AND RESERVES
Called up share capital 8 60,002 60,002
Retained earnings 557,808 565,813
617,810 625,815

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





A McDermott - Director


REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Redcherry Investments Limited is a private company, limited by shares, registered in the United Kingdom. The company's registered number and registered office address can be found on the Company Information page. The principal activity of the company is as a holding company.

2. STATEMENT OF COMPLIANCE

The financial statements of the company for the year ended 31 December 2021 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within the accounting policies and in accordance with Section 1A of Financial Reporting Standard 102. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the income statement in the year in which it is receivable.

REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties 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 receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and 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.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within current liabilities.

Distribution to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial period in which the dividends and other distributions are approved by the company's shareholders.These amounts are recognised in the statement of changes in equity.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 January 2023
and 31 December 2023 1,002,002
NET BOOK VALUE
At 31 December 2023 1,002,002
At 31 December 2022 1,002,002




Group and
participating
interests/
joint ventures



Total
Investments £    £   
Cost or Valuation

At 31 December 2023 1,002,002 1,002,002
Carrying amount
At 31 December 2023 1,002,002 1,002,002
At 31 December 2022 1,002,002 1,002,002

Holdings in related undertakings
The company holds 20% or more of the share capital of the following companies:



Name

Country of
incorporation

Nature of
business

Details of
investment
Proportion
held by
company

Tyrone Fabrication Limited Northern Ireland Engineering Ordinary 100%

The address of the above company is 87 Goland road, Ballygawley, Tyrone, BT70 2LA.

REDCHERRY INVESTMENTS LIMITED (REGISTERED NUMBER: NI051833)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. RECEIVABLES: AMOUNTS FALLING
WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by participating interests 350,000 -

Amounts owed by participating interests are unsecured, interest free and repayable on demand.

7. PAYABLES: AMOUNTS FALLING DUE
WITHIN ONE YEAR
2023 2022
£ £
Amounts owed to group undertakings 731,783 373,958
Other payables 2,000 2,000
Accruals 1,300 1,300
735,083 377,258

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

8. CALLED UP SHARE CAPITAL

Allotted, issued and
fully paid:

Nominal
value:


2023


2022

Number: Class:
46,502 Ordinary A £1 46,502 46,502
4,500 Ordinary B £1 4,500 4,500
4,500 Ordinary C £1 4,500 4,500
4,500 Ordinary D £1 4,500 4,500
60,002 60,002

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr Desmond Kelly FCA (Senior Statutory Auditor)
for and on behalf of CavanaghKelly

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end, there is an amount outstanding of £350,000 (2022: £nil) due by a company owned by a director of Redcherry Investments Limited, which does not form part of the group.

11. ULTIMATE CONTROLLING PARTY

The directors of Redcherry Bidco Limited are considered to be the ultimate controlling party.

12. PARENT AND ULTIMATE CONTROLLING PARTY

The company regards Redcherry Bidco Limited as its parent company.

Redcherry Bidco Limited has included the results of Redcherry Investments Limited in its group financial statements, copies of which are available from its business address at 87 Goland Road, Ballygawley, Dungannon, Co. Tyrone, BT70 2LA.