2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,000 4,000 1,000 5,000 5,000 6,000 xbrli:pure xbrli:shares iso4217:GBP 11863071 2023-04-01 2024-03-31 11863071 2024-03-31 11863071 2023-03-31 11863071 2022-04-01 2023-03-31 11863071 2023-03-31 11863071 2022-03-31 11863071 core:NetGoodwill 2023-04-01 2024-03-31 11863071 core:PlantMachinery 2023-04-01 2024-03-31 11863071 core:MotorVehicles 2023-04-01 2024-03-31 11863071 bus:Director1 2023-04-01 2024-03-31 11863071 core:NetGoodwill 2023-03-31 11863071 core:NetGoodwill 2024-03-31 11863071 core:PlantMachinery 2023-03-31 11863071 core:MotorVehicles 2023-03-31 11863071 core:PlantMachinery 2024-03-31 11863071 core:MotorVehicles 2024-03-31 11863071 core:WithinOneYear 2024-03-31 11863071 core:WithinOneYear 2023-03-31 11863071 core:AfterOneYear 2024-03-31 11863071 core:AfterOneYear 2023-03-31 11863071 core:ShareCapital 2024-03-31 11863071 core:ShareCapital 2023-03-31 11863071 core:RetainedEarningsAccumulatedLosses 2024-03-31 11863071 core:RetainedEarningsAccumulatedLosses 2023-03-31 11863071 core:NetGoodwill 2023-03-31 11863071 core:PlantMachinery 2023-03-31 11863071 core:MotorVehicles 2023-03-31 11863071 bus:SmallEntities 2023-04-01 2024-03-31 11863071 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11863071 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11863071 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11863071 bus:FullAccounts 2023-04-01 2024-03-31 11863071 core:OfficeEquipment 2023-04-01 2024-03-31 11863071 core:OfficeEquipment 2023-03-31 11863071 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 11863071
Rednal Combat Ltd
Filleted Unaudited Financial Statements
31 March 2024
Rednal Combat Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
5
5,000
6,000
Tangible assets
6
45,664
38,872
--------
--------
50,664
44,872
Current assets
Stocks
2,000
5,000
Debtors
7
6,815
5,871
Cash at bank and in hand
901
5,187
-------
--------
9,716
16,058
Creditors: amounts falling due within one year
8
22,582
25,708
--------
--------
Net current liabilities
12,866
9,650
--------
--------
Total assets less current liabilities
37,798
35,222
Creditors: amounts falling due after more than one year
9
29,976
33,655
--------
--------
Net assets
7,822
1,567
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
7,821
1,566
-------
-------
Shareholders funds
7,822
1,567
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Rednal Combat Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr C S West
Director
Company registration number: 11863071
Rednal Combat Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Berllan Close, Weston Rhyn, Oswestry, SY10 7TH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
10,000
--------
Amortisation
At 1 April 2023
4,000
Charge for the year
1,000
--------
At 31 March 2024
5,000
--------
Carrying amount
At 31 March 2024
5,000
--------
At 31 March 2023
6,000
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
56,390
6,128
485
63,003
Additions
5,492
14,200
19,692
Disposals
( 350)
( 350)
--------
--------
----
--------
At 31 March 2024
61,532
20,328
485
82,345
--------
--------
----
--------
Depreciation
At 1 April 2023
20,458
3,627
46
24,131
Charge for the year
8,215
4,175
160
12,550
--------
--------
----
--------
At 31 March 2024
28,673
7,802
206
36,681
--------
--------
----
--------
Carrying amount
At 31 March 2024
32,859
12,526
279
45,664
--------
--------
----
--------
At 31 March 2023
35,932
2,501
439
38,872
--------
--------
----
--------
7. Debtors
2024
2023
£
£
Other debtors
6,815
5,871
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,375
6,873
Trade creditors
419
Social security and other taxes
240
Other creditors
13,967
18,416
--------
--------
22,582
25,708
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
29,976
33,655
--------
--------
10. Director's advances, credits and guarantees
The directors operate a current account with the company. As follows :
2024
£
Opening balance (4,827)
Movement 14,430
--------
Closing balance 9,602
No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.