Company Registration No. 01295268 (England and Wales)
The Redington Design Company Limited
Unaudited accounts
for the year ended 30 April 2024
The Redington Design Company Limited
Unaudited accounts
Contents
The Redington Design Company Limited
Company Information
for the year ended 30 April 2024
Directors
A Usiskin
Mrs S Usiskin
Company Number
01295268 (England and Wales)
Registered Office
97 Redington Road
London
NW3 7RR
England
Accountants
Balmoral Consultancy Services Limited
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
The Redington Design Company Limited
Statement of financial position
as at 30 April 2024
Tangible assets
1,504,588
1,506,118
Inventories
885,545
888,570
Cash at bank and in hand
878,219
740,951
Creditors: amounts falling due within one year
(174,539)
(41,293)
Net current assets
1,589,225
1,596,717
Total assets less current liabilities
3,094,177
3,103,199
Provisions for liabilities
Deferred tax
(278,934)
(278,934)
Net assets
2,815,243
2,824,265
Called up share capital
1,000
1,000
Profit and loss account
2,814,243
2,823,265
Shareholders' funds
2,815,243
2,824,265
For the year ending 30 April 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 December 2024 and were signed on its behalf by
A Usiskin
Director
Company Registration No. 01295268
The Redington Design Company Limited
Notes to the Accounts
for the year ended 30 April 2024
The Redington Design Company Limited is a private company, limited by shares, registered in England and Wales, registration number 01295268. The registered office is 97 Redington Road, London, NW3 7RR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25 % Reducing balance
Computer equipment
25 % Reducing balance
Land & Buildings and Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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.
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.
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 items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in
bringing stocks to their present location and condition.
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.
The Redington Design Company Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
Tax is recognised in the Statement of income and retained earnings, 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.
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:
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2023
1,500,000
99,846
19,911
1,619,757
At 30 April 2024
1,500,000
99,846
19,911
1,619,757
At 1 May 2023
-
99,846
13,793
113,639
Charge for the year
-
-
1,530
1,530
At 30 April 2024
-
99,846
15,323
115,169
At 30 April 2024
1,500,000
-
4,588
1,504,588
At 30 April 2023
1,500,000
-
6,118
1,506,118
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Investments
Other investments
Valuation at 1 May 2023
364
Valuation at 30 April 2024
364
The Redington Design Company Limited
Notes to the Accounts
for the year ended 30 April 2024
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
24,646
22,035
Other creditors
21,500
13,065
Loans from directors
124,793
4,693
8
Deferred taxation
2024
2023
Other deferred taxation
278,934
278,934
Provision at start of year
278,934
-
Charged to the profit and loss account
-
278,934
Provision at end of year
278,934
278,934
At the balance sheet date, the deferred tax liability amounts to £278,934.
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
10
Transactions with related parties
At the balance sheet date, an amount of £124,793 (2023: £4,693) was owed to the directors. The loan is unsecured, interest free and repayable on demand.
During the year under review, the company was under the control of the directors, Mr. A Usiskin and Mrs. S Usiskin.
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Average number of employees
During the year the average number of employees was 2 (2023: 2).