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REDS BUILDERS LIMITED

Registered Number
04387646
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

REDS BUILDERS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Amanda Rance
Tony Rance
Lomand Rance
Joshua Rance

Registered Address

Reds Builders Limited
Alchorne Place
Portsmouth
PO3 5QL

Registered Number

04387646 (England and Wales)
REDS BUILDERS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4312,088368,323
312,088368,323
Current assets
Stocks541,15965,418
Debtors507,702651,918
Cash at bank and on hand430,519187,571
979,380904,907
Creditors amounts falling due within one year6(482,690)(480,904)
Net current assets (liabilities)496,690424,003
Total assets less current liabilities808,778792,326
Creditors amounts falling due after one year7(59,875)(94,334)
Provisions for liabilities9(78,022)(69,981)
Net assets670,881628,011
Capital and reserves
Called up share capital100100
Profit and loss account670,781627,911
Shareholders' funds670,881628,011
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2024, and are signed on its behalf by:
Amanda Rance
Director
Registered Company No. 04387646
REDS BUILDERS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Vehicles25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year88
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 23270,820693,32118,059982,200
Additions23,28924,000-47,289
At 31 March 24294,109717,32118,0591,029,489
Depreciation and impairment
At 01 April 23224,522380,2829,073613,877
Charge for year17,39984,3912,247104,037
On disposals-(513)-(513)
At 31 March 24241,921464,16011,320717,401
Net book value
At 31 March 2452,188253,1616,739312,088
At 31 March 2346,298313,0398,986368,323
5.Stocks

2024

2023

££
Raw materials and consumables4,5213,780
Work in progress36,63861,638
Total41,15965,418
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables309,442380,963
Taxation and social security106,74836,918
Finance lease and HP contracts48,55850,805
Other creditors1,316882
Accrued liabilities and deferred income16,62611,336
Total482,690480,904
7.Creditors: amounts due after one year

2024

2023

££
Other creditors59,87594,334
Total59,87594,334
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts59,87594,334
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)78,02269,981
Total78,02269,981