1 March 2023 false No description of principal activity Taxfiler 2024.5 13205426business:PrivateLimitedCompanyLtd2023-03-012024-02-28 132054262023-02-28 132054262023-03-012024-02-28 13205426business:AuditExempt-NoAccountantsReport2023-03-012024-02-28 13205426business:FilletedAccounts2023-03-012024-02-28 132054262024-02-28 13205426business:Director12023-03-012024-02-28 13205426business:RegisteredOffice2023-03-012024-02-28 132054262023-02-28 13205426core:WithinOneYear2024-02-28 13205426core:WithinOneYear2023-02-28 13205426core:AfterOneYear2024-02-28 13205426core:AfterOneYear2023-02-28 13205426core:ShareCapitalcore:PreviouslyStatedAmount2024-02-28 13205426core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 13205426core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-28 13205426core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 13205426core:PreviouslyStatedAmount2024-02-28 13205426core:PreviouslyStatedAmount2023-02-28 13205426business:SmallEntities2023-03-012024-02-28 13205426countries:EnglandWales2023-03-012024-02-28 13205426core:PlantMachinery2023-03-012024-02-28 13205426core:MotorVehicles2023-03-012024-02-28 13205426core:PlantMachinery2023-02-28 13205426core:MotorVehicles2023-02-28 13205426core:PlantMachinery2024-02-28 13205426core:MotorVehicles2024-02-28 13205426core:MotorVehiclescore:LeasedAssetsHeldAsLessee2024-02-28 13205426core:MotorVehiclescore:LeasedAssetsHeldAsLessee2023-02-28 13205426core:AfterOneYear2023-03-012024-02-28 13205426core:AcceleratedTaxDepreciationDeferredTax2024-02-28 13205426core:AcceleratedTaxDepreciationDeferredTax2023-02-28 132054262022-02-28 132054262022-03-012023-02-28 13205426business:OrdinaryShareClass12023-03-012024-02-28 13205426business:OrdinaryShareClass12022-03-012023-02-28 13205426business:Director112023-03-012024-02-28 13205426business:Director112023-02-28 13205426business:Director112024-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 13205426 (England and Wales)
REDS DRYWALL LTD Unaudited accounts for the period from 1 March 2023 to 28 February 2024
REDS DRYWALL LTD Unaudited accounts Contents
Page
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REDS DRYWALL LTD Company Information for the period from 1 March 2023 to 28 February 2024
Director
Thomas Matthews
Company Number
13205426 (England and Wales)
Registered Office
112 - 113 High Street LINCOLN LN5 7PY ENGLAND
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA Templar Accounting & Business Support Services Limited (Incorp: Blake and Co ) 112 - 113 High Street, Lincoln, Lincolnshire LN5 7PY
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REDS DRYWALL LTD Statement of financial position as at 28 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,306 
14,133 
Current assets
Debtors
36,104 
27,949 
Cash at bank and in hand
10,000 
18 
46,104 
27,967 
Creditors: amounts falling due within one year
(50,485)
(31,371)
Net current liabilities
(4,381)
(3,404)
Total assets less current liabilities
6,925 
10,729 
Creditors: amounts falling due after more than one year
(4,040)
(7,117)
Provisions for liabilities
Deferred tax
(2,705)
(3,436)
Net assets
180 
176 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
80 
76 
Shareholders' funds
180 
176 
For the period ending 28 February 2024 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 March 2024 and were signed on its behalf by
Thomas Matthews Director Company Registration No. 13205426
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REDS DRYWALL LTD Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
1
Statutory information
REDS DRYWALL LTD is a private company, limited by shares, registered in England and Wales, registration number 13205426. The registered office is 112 - 113 High Street, LINCOLN, LN5 7PY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
20% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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REDS DRYWALL LTD Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
5,000 
17,083 
22,083 
At 28 February 2024
5,000 
17,083 
22,083 
Depreciation
At 1 March 2023
1,800 
6,150 
7,950 
Charge for the period
640 
2,187 
2,827 
At 28 February 2024
2,440 
8,337 
10,777 
Net book value
At 28 February 2024
2,560 
8,746 
11,306 
At 28 February 2023
3,200 
10,933 
14,133 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
8,013 
10,933 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
788 
389 
Trade debtors
10,788 
- 
Other debtors
24,528 
24,060 
36,104 
24,449 
Amounts falling due after more than one year
Other debtors
- 
3,500 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
3,973 
3,973 
Trade creditors
4,791 
- 
Taxes and social security
19,339 
15,303 
Loans from directors
(2,863)
(12,640)
Accruals
717 
675 
Deferred income
24,528 
24,060 
50,485 
31,371 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
4,040 
7,117 
Hire purchase balance outstanding
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REDS DRYWALL LTD Notes to the Accounts for the period from 1 March 2023 to 28 February 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
2,705 
3,436 
2024 
2023 
£ 
£ 
Provision at start of period
3,436 
3,436 
Credited to the profit and loss account
(731)
- 
Provision at end of period
2,705 
3,436 
A deferred tax reversal of (£731) created by past accelerated capital allowances
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Thomas Matthews
Unsecured loan
12,640 
- 
9,778 
2,862 
12,640 
- 
9,778 
2,862 
11
Average number of employees
During the period the average number of employees was 1 (2023: 2).
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