Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 06993279 Mr Kamal Gohill iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06993279 2023-02-28 06993279 2024-02-29 06993279 2023-03-01 2024-02-29 06993279 frs-core:CurrentFinancialInstruments 2024-02-29 06993279 frs-core:Non-currentFinancialInstruments 2024-02-29 06993279 frs-core:ComputerEquipment 2024-02-29 06993279 frs-core:ComputerEquipment 2023-03-01 2024-02-29 06993279 frs-core:ComputerEquipment 2023-02-28 06993279 frs-core:MotorVehicles 2024-02-29 06993279 frs-core:MotorVehicles 2023-03-01 2024-02-29 06993279 frs-core:MotorVehicles 2023-02-28 06993279 frs-core:PlantMachinery 2024-02-29 06993279 frs-core:PlantMachinery 2023-03-01 2024-02-29 06993279 frs-core:PlantMachinery 2023-02-28 06993279 frs-core:ShareCapital 2024-02-29 06993279 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 06993279 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06993279 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 06993279 frs-bus:SmallEntities 2023-03-01 2024-02-29 06993279 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06993279 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06993279 frs-bus:Director1 2023-03-01 2024-02-29 06993279 frs-core:CurrentFinancialInstruments 1 2024-02-29 06993279 frs-countries:EnglandWales 2023-03-01 2024-02-29 06993279 2022-02-28 06993279 2023-02-28 06993279 2022-03-01 2023-02-28 06993279 frs-core:CurrentFinancialInstruments 2023-02-28 06993279 frs-core:Non-currentFinancialInstruments 2023-02-28 06993279 frs-core:ShareCapital 2023-02-28 06993279 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28 06993279 frs-core:CurrentFinancialInstruments 1 2023-02-28
Registered number: 06993279
Redbak Global Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
The High Street Accountant Ltd
AAT
5 High Street
Sileby
Loughborough
Leicestershire
LE12 7RX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06993279
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,360 5,853
6,360 5,853
CURRENT ASSETS
Stocks 5 76,496 201,436
Debtors 6 11,925 89,612
88,421 291,048
Creditors: Amounts Falling Due Within One Year 7 (240,826 ) (308,823 )
NET CURRENT ASSETS (LIABILITIES) (152,405 ) (17,775 )
TOTAL ASSETS LESS CURRENT LIABILITIES (146,045 ) (11,922 )
Creditors: Amounts Falling Due After More Than One Year 8 (43,671 ) (47,858 )
NET LIABILITIES (189,716 ) (59,780 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (189,816 ) (59,880 )
SHAREHOLDERS' FUNDS (189,716) (59,780)
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Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Kamal Gohill
Director
22/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Redbak Global Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06993279 . The registered office is 3 Beaumanor Road, Leicester, LE4 5QD.
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 25% REDUCING BALANCE
Motor Vehicles 25% REDUCING BALANCE
Computer Equipment 15% REDUCING BALANCE
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 2,843 6,500 2,239 11,582
Additions - - 1,690 1,690
As at 29 February 2024 2,843 6,500 3,929 13,272
Depreciation
As at 1 March 2023 1,438 3,758 533 5,729
Provided during the period 351 658 174 1,183
As at 29 February 2024 1,789 4,416 707 6,912
Net Book Value
As at 29 February 2024 1,054 2,084 3,222 6,360
As at 1 March 2023 1,405 2,742 1,706 5,853
5. Stocks
2024 2023
£ £
Stock 76,496 201,436
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 88,564
VAT 11,925 1,048
11,925 89,612
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,200 40,588
Bank loans and overdrafts 15,002 45,411
Corporation tax - 3,299
Other taxes and social security 1,639 1,440
Net wages 5,633 3,487
Other creditors (1) 100,000 100,516
Accruals and deferred income 12,418 82,060
Director's loan account 88,934 32,022
240,826 308,823
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 43,671 47,858
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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