Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01Recruitmentfalsefalsetruefalse4446The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01646532 2023-04-01 2024-03-31 01646532 2022-04-01 2023-03-31 01646532 2024-03-31 01646532 2023-03-31 01646532 2022-04-01 01646532 c:Director3 2023-04-01 2024-03-31 01646532 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 01646532 d:Buildings d:ShortLeaseholdAssets 2024-03-31 01646532 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01646532 d:FurnitureFittings 2023-04-01 2024-03-31 01646532 d:FurnitureFittings 2024-03-31 01646532 d:FurnitureFittings 2023-03-31 01646532 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01646532 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01646532 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 01646532 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 01646532 d:CurrentFinancialInstruments 2024-03-31 01646532 d:CurrentFinancialInstruments 2023-03-31 01646532 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01646532 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01646532 d:ShareCapital 2023-04-01 2024-03-31 01646532 d:ShareCapital 2024-03-31 01646532 d:ShareCapital 2022-04-01 2023-03-31 01646532 d:ShareCapital 2023-03-31 01646532 d:ShareCapital 2022-04-01 01646532 d:SharePremium 2023-04-01 2024-03-31 01646532 d:SharePremium 2024-03-31 01646532 d:SharePremium 2022-04-01 2023-03-31 01646532 d:SharePremium 2023-03-31 01646532 d:SharePremium 2022-04-01 01646532 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 01646532 d:CapitalRedemptionReserve 2024-03-31 01646532 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 01646532 d:CapitalRedemptionReserve 2023-03-31 01646532 d:CapitalRedemptionReserve 2022-04-01 01646532 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01646532 d:RetainedEarningsAccumulatedLosses 2024-03-31 01646532 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 01646532 d:RetainedEarningsAccumulatedLosses 2023-03-31 01646532 d:RetainedEarningsAccumulatedLosses 2022-04-01 01646532 c:FRS102 2023-04-01 2024-03-31 01646532 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01646532 c:FullAccounts 2023-04-01 2024-03-31 01646532 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01646532 d:WithinOneYear 2024-03-31 01646532 d:WithinOneYear 2023-03-31 01646532 d:BetweenOneFiveYears 2024-03-31 01646532 d:BetweenOneFiveYears 2023-03-31 01646532 2 2023-04-01 2024-03-31 01646532 6 2023-04-01 2024-03-31 01646532 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01646532 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01646532 d:RetirementBenefitObligationsDeferredTax 2024-03-31 01646532 d:RetirementBenefitObligationsDeferredTax 2023-03-31 01646532 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01646532 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01646532









REDLINE GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
REDLINE GROUP LIMITED
REGISTERED NUMBER: 01646532

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
4,766
9,166

Tangible assets
 5 
33,465
34,940

Investments
 6 
4
4

  
38,235
44,110

Current assets
  

Debtors: amounts falling due within one year
 7 
962,707
1,302,609

Cash at bank and in hand
 8 
365,402
465,981

  
1,328,109
1,768,590

Creditors: amounts falling due within one year
 9 
(577,958)
(795,786)

Net current assets
  
 
 
750,151
 
 
972,804

Total assets less current liabilities
  
788,386
1,016,914

Provisions for liabilities
  

Deferred tax
 10 
(7,688)
(9,030)

Net assets
  
780,698
1,007,884


Capital and reserves
  

Called up share capital 
  
25,191
25,191

Share premium account
  
24,338
24,338

Capital redemption reserve
  
175,997
175,997

Profit and loss account
  
555,172
782,358

  
780,698
1,007,884


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
REDLINE GROUP LIMITED
REGISTERED NUMBER: 01646532
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
M Crapper
Director
Date: 10 October 2024

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
REDLINE GROUP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2022
26,470
29,338
174,718
903,712
1,134,238


Comprehensive income for the year

Profit for the year
-
-
-
80,235
80,235
Total comprehensive income for the year
-
-
-
80,235
80,235

Dividends: Equity capital
-
-
-
(201,589)
(201,589)

Purchase of own shares
-
-
1,279
-
1,279

Shares redeemed during the year
(1,279)
(5,000)
-
-
(6,279)


Total transactions with owners
(1,279)
(5,000)
1,279
(201,589)
(206,589)



At 1 April 2023
25,191
24,338
175,997
782,358
1,007,884


Comprehensive income for the year

Profit for the year
-
-
-
11,790
11,790
Total comprehensive income for the year
-
-
-
11,790
11,790

Dividends: Equity capital
-
-
-
(238,976)
(238,976)


Total transactions with owners
-
-
-
(238,976)
(238,976)


At 31 March 2024
25,191
24,338
175,997
555,172
780,698


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Redline Group Limited is a company limited by shares incorporated in England & Wales within the United Kingdom. The address of the registered office is 230 The Village, Great Marlings, Luton, Beds, LU2 8DL.
The principal activity of the Company is that of providing services in the recruitment and consultancy industry.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

 
2.3

Going concern

The Directors have reasonable expectation that the Company has adequate resources to continue in
operational existence for the foreseeable future. Therefore, the Board continues to adopt the going
concern basis in preparing these Financial Statements.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
15% reducing balance or 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 6

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.18

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 44 (2023 - 46).

Page 7

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2023
13,199



At 31 March 2024

13,199



Amortisation


At 1 April 2023
4,033


Charge for the year on owned assets
4,400



At 31 March 2024

8,433



Net book value



At 31 March 2024
4,766



At 31 March 2023
9,166



Page 8

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





S/Term Leasehold Property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
9,096
126,452
135,548


Additions
-
18,436
18,436


Disposals
-
(4,129)
(4,129)



At 31 March 2024

9,096
140,759
149,855



Depreciation


At 1 April 2023
9,096
91,512
100,608


Charge for the year on owned assets
-
19,911
19,911


Disposals
-
(4,129)
(4,129)



At 31 March 2024

9,096
107,294
116,390



Net book value



At 31 March 2024
-
33,465
33,465



At 31 March 2023
-
34,940
34,940


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2023
4



At 31 March 2024
4




Page 9

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
751,837
1,108,849

Other debtors
135,500
130,159

Prepayments and accrued income
75,370
63,601

962,707
1,302,609



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
365,402
465,981



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
71,429
66,423

Corporation tax
5,225
22,852

Other taxation and social security
180,263
228,170

Other creditors
48,992
83,275

Accruals and deferred income
272,049
395,066

577,958
795,786


Page 10

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
9,030
11,701


Charged to profit or loss
(1,342)
(2,671)



At end of year
7,688
9,030

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
7,688
8,380

Pension creditor
-
650

7,688
9,030


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to fund and amount to £137,414 (2023: £146,206). Contributions totalling £7,910 (2023: £7,256) were payable to the fund at the balance sheet date and are included in creditors.


12.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
63,948
63,948

Later than 1 year and not later than 5 years
105,678
169,626

169,626
233,574

Page 11

 
REDLINE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Related party transactions

During the year the Company recharged Redline Executive Limited, a company with common control,  £27,875 (2023: £45,466) for expenses paid on its behalf. At the year end £132,581 (2023: £113,931) was owed by Redline Executive Limited to the Company. 
During the year the Directors received dividends of £237,776 (2023: £201,589). At the year end the Directors were owed £3,586 (2023: £7,213) and owed Redline Group Limited £155 (2023: £155). 
The total compensation for key management personnel during the year was £466,521 (2023: £529,468). 


14.


Controlling party

In the opinion of the directors there is no ultimate controlling party. 


 
Page 12