Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 10785249 Mr Philip Redfearn iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10785249 2023-05-31 10785249 2024-05-31 10785249 2023-06-01 2024-05-31 10785249 frs-core:CurrentFinancialInstruments 2024-05-31 10785249 frs-core:Non-currentFinancialInstruments 2024-05-31 10785249 frs-core:BetweenOneFiveYears 2024-05-31 10785249 frs-core:ComputerEquipment 2024-05-31 10785249 frs-core:ComputerEquipment 2023-06-01 2024-05-31 10785249 frs-core:ComputerEquipment 2023-05-31 10785249 frs-core:FurnitureFittings 2023-06-01 2024-05-31 10785249 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 10785249 frs-core:MotorVehicles 2024-05-31 10785249 frs-core:MotorVehicles 2023-06-01 2024-05-31 10785249 frs-core:MotorVehicles 2023-05-31 10785249 frs-core:PlantMachinery 2024-05-31 10785249 frs-core:PlantMachinery 2023-06-01 2024-05-31 10785249 frs-core:PlantMachinery 2023-05-31 10785249 frs-core:WithinOneYear 2024-05-31 10785249 frs-core:ShareCapital 2024-05-31 10785249 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 10785249 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10785249 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 10785249 frs-bus:SmallEntities 2023-06-01 2024-05-31 10785249 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10785249 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10785249 frs-bus:Director1 2023-06-01 2024-05-31 10785249 frs-countries:EnglandWales 2023-06-01 2024-05-31 10785249 2022-05-31 10785249 2023-05-31 10785249 2022-06-01 2023-05-31 10785249 frs-core:CurrentFinancialInstruments 2023-05-31 10785249 frs-core:Non-currentFinancialInstruments 2023-05-31 10785249 frs-core:BetweenOneFiveYears 2023-05-31 10785249 frs-core:WithinOneYear 2023-05-31 10785249 frs-core:ShareCapital 2023-05-31 10785249 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 10785249
Redfearn Construction Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10785249
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 140,642 175,590
140,642 175,590
CURRENT ASSETS
Stocks 5 429,750 1,099,750
Debtors 6 (2,818 ) (30,297 )
Cash at bank and in hand 20,901 21,601
447,833 1,091,054
Creditors: Amounts Falling Due Within One Year 7 (372,703 ) (1,000,122 )
NET CURRENT ASSETS (LIABILITIES) 75,130 90,932
TOTAL ASSETS LESS CURRENT LIABILITIES 215,772 266,522
Creditors: Amounts Falling Due After More Than One Year 8 (31,422 ) (78,466 )
NET ASSETS 184,350 188,056
CAPITAL AND RESERVES
Called up share capital 10 300 300
Profit and Loss Account 184,050 187,756
SHAREHOLDERS' FUNDS 184,350 188,056
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For the year ending 31 May 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 Philip Redfearn
Director
10/12/2024
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
Redfearn Construction Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10785249 . The registered office is Ingleborough View Barn Westhouse, Ingleton, Carnforth, North Yorkshire, LA6 3NZ.
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:
Freehold No Deperication policy
Plant & Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings No Deperication policy
Computer Equipment 33% 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.
2.5. 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.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 4)
2 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 98,707 127,468 3,084 229,259
As at 31 May 2024 98,707 127,468 3,084 229,259
Depreciation
As at 1 June 2023 8,097 43,872 1,700 53,669
Provided during the period 13,592 20,899 457 34,948
As at 31 May 2024 21,689 64,771 2,157 88,617
Net Book Value
As at 31 May 2024 77,018 62,697 927 140,642
As at 1 June 2023 90,610 83,596 1,384 175,590
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5. Stocks
2024 2023
£ £
Work in progress 429,750 1,099,750
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors (2,818 ) (5,000 )
Corporation tax recoverable assets - (28,582 )
VAT - 3,285
(2,818 ) (30,297 )
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 41,324 25,892
Trade creditors 6,803 20,106
Bank loans and overdrafts 5,882 5,882
Corporation tax 1,068 1,068
Other taxes and social security 909 844
VAT 7,569 -
Other creditors - 21
Accruals and deferred income 1,400 2,400
Director's loan account 307,748 943,909
372,703 1,000,122
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 540 41,701
Bank loans 30,882 36,765
31,422 78,466
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 41,324 25,892
Later than one year and not later than five years 540 41,701
41,864 67,593
41,864 67,593
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
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