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REGISTERED NUMBER: 01743398 (England and Wales)















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Reddispares Discount Services
Limited

Reddispares Discount Services
Limited (Registered number: 01743398)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reddispares Discount Services
Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: B Robins
A Robins





SECRETARY: B Robins





REGISTERED OFFICE: 217 Mount Pleasant
Southcrest
Redditch
Worcestershire
B97 4JG





REGISTERED NUMBER: 01743398 (England and Wales)





ACCOUNTANTS: Dalton Pardoe Limited
Chartered Accountants
794 High Street
Kingswinford
West Midlands
DY6 8BQ

Reddispares Discount Services
Limited (Registered number: 01743398)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,942 23,889

CURRENT ASSETS
Stocks 179,250 169,850
Debtors 5 38,695 26,775
Cash at bank and in hand 278,295 187,354
496,240 383,979
CREDITORS
Amounts falling due within one year 6 197,008 166,909
NET CURRENT ASSETS 299,232 217,070
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,174

240,959

CREDITORS
Amounts falling due after more than one year 7 (14,698 ) -

PROVISIONS FOR LIABILITIES (9,869 ) (4,539 )
NET ASSETS 326,607 236,420

CAPITAL AND RESERVES
Called up share capital 8 15,100 15,100
Retained earnings 9 311,507 221,320
SHAREHOLDERS' FUNDS 326,607 236,420

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Reddispares Discount Services
Limited (Registered number: 01743398)

Balance Sheet - continued
29 February 2024


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 4 October 2024 and were signed on its behalf by:





B Robins - Director


Reddispares Discount Services
Limited (Registered number: 01743398)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Reddispares Discount Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Reddispares Discount Services
Limited (Registered number: 01743398)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 - 19,673 46,589 7,428 73,690
Additions 7,000 3,500 33,500 - 44,000
Disposals - - (17,995 ) - (17,995 )
At 29 February 2024 7,000 23,173 62,094 7,428 99,695
DEPRECIATION
At 1 March 2023 - 10,902 32,445 6,454 49,801
Charge for year 280 1,227 8,349 194 10,050
Eliminated on disposal - - (12,098 ) - (12,098 )
At 29 February 2024 280 12,129 28,696 6,648 47,753
NET BOOK VALUE
At 29 February 2024 6,720 11,044 33,398 780 51,942
At 28 February 2023 - 8,771 14,144 974 23,889

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 38,695 26,775

Reddispares Discount Services
Limited (Registered number: 01743398)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 23,333 33,331
Hire purchase contracts 7,686 233
Trade creditors 74,360 69,893
Amounts owed to associates 14,876 -
Tax 38,250 15,365
Social security and other taxes 29,135 24,778
VAT 5,461 1,660
Directors' current accounts - 17,651
Accrued expenses 3,907 3,998
197,008 166,909

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 14,698 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
15,100 Ordinary £1 15,100 15,100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 221,320
Profit for the year 110,187
Dividends (20,000 )
At 29 February 2024 311,507

10. ULTIMATE CONTROLLING PARTY

The controlling party is Reddispares Holdings Limited.

The ultimate controlling party is B Robins.