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Registered number: 07120987
Rednus Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07120987
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 44,823 52,451
Investments 5 22,317 29,175
67,140 81,626
CURRENT ASSETS
Debtors 6 24,983 23,482
Investments 7 29,205 28,260
Cash at bank and in hand 301,370 187,898
355,558 239,640
Creditors: Amounts Falling Due Within One Year 8 (114,915 ) (28,440 )
NET CURRENT ASSETS (LIABILITIES) 240,643 211,200
TOTAL ASSETS LESS CURRENT LIABILITIES 307,783 292,826
Creditors: Amounts Falling Due After More Than One Year 9 - (10,854 )
NET ASSETS 307,783 281,972
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 306,783 280,972
SHAREHOLDERS' FUNDS 307,783 281,972
Page 1
Page 2
For the year ending 31 January 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Shyam Avvari
Director
23 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rednus Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07120987 . The registered office is 1 Perry Close, Newton Leys, Milton Keynes, MK3 5RD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 12,749 64,990 77,739
Additions 6,650 - 6,650
As at 31 January 2024 19,399 64,990 84,389
Depreciation
As at 1 February 2023 12,290 12,998 25,288
Provided during the period 3,880 10,398 14,278
As at 31 January 2024 16,170 23,396 39,566
Net Book Value
As at 31 January 2024 3,229 41,594 44,823
As at 1 February 2023 459 51,992 52,451
5. Investments
Listed
£
Cost
As at 1 February 2023 29,175
Revaluations (6,858 )
As at 31 January 2024 22,317
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 22,317
As at 1 February 2023 29,175
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,525 21,551
Other debtors 458 1,309
VAT - 622
24,983 23,482
7. Current Asset Investments
2024 2023
£ £
Short term deposits 29,205 28,260
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,854 16,281
Corporation tax 56,324 4,972
VAT 3,011 -
Other creditors 1,376 1,339
Accruals and deferred income 1,350 1,348
Directors' loan accounts 42,000 4,500
114,915 28,440
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 10,854
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 10,854 16,281
Later than one year and not later than five years - 10,854
10,854 27,135
10,854 27,135
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6