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REGISTERED NUMBER: 07028062 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2024

for

REDWOOD COLLECTIONS LTD

REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Contents of the Financial Statements
for the year ended 31 October 2024










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


REDWOOD COLLECTIONS LTD

Company Information
for the year ended 31 October 2024







Directors: S R North
A C F North
P Woodard





Registered office: Airport House
Purley Way
Croydon
Surrey
CR0 0XZ





Registered number: 07028062 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Redwood Collections Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Redwood Collections Ltd for the year ended 31 October 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Redwood Collections Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Redwood Collections Ltd and state those matters that we have agreed to state to the Board of Directors of Redwood Collections Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Redwood Collections Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Redwood Collections Ltd. You consider that Redwood Collections Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Redwood Collections Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cooper Parry Advisory Limited
Northside House
69 Tweedy Road
Bromley
Kent
BR1 3WA


19 February 2025

REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 24,587 55,147

Current assets
Debtors 5 1,602,786 1,468,655
Cash at bank 680,617 608,507
2,283,403 2,077,162
Creditors
Amounts falling due within one year 6 1,178,264 958,273
Net current assets 1,105,139 1,118,889
Total assets less current liabilities 1,129,726 1,174,036

Provisions for liabilities 8 6,147 10,229
Net assets 1,123,579 1,163,807

Capital and reserves
Called up share capital 9 720 720
Retained earnings 1,122,859 1,163,087
Shareholders' funds 1,123,579 1,163,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2025 and were signed on its behalf by:





S R North - Director


REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Notes to the Financial Statements
for the year ended 31 October 2024


1. Statutory information

Redwood Collections Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The directors have considered the consequences of Covid-19 and other trading events and conditions it can predict now and, in the future, and it has determined that they do not create a material uncertainty that casts significant doubt upon the Company's ability to continue as a going concern. For that reason, the directors have a reasonable expectation that the Company has adequate resources to continue in operation for the foreseeable future and so it considers it appropriate for the 2021 financial accounts to be prepared on a going concern basis.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. There is estimation uncertainty in calculating depreciation, deferred tax, bad debt provisions and accruals, however the directors believe that the amounts in the financial statements are materially correct.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 67 (2023 - 65 ) .

REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 November 2023 53,043 169,641 222,684
Additions 904 2,399 3,303
Disposals (1,583 ) (7,066 ) (8,649 )
At 31 October 2024 52,364 164,974 217,338
Depreciation
At 1 November 2023 37,966 129,571 167,537
Charge for year 8,076 25,787 33,863
Eliminated on disposal (1,583 ) (7,066 ) (8,649 )
At 31 October 2024 44,459 148,292 192,751
Net book value
At 31 October 2024 7,905 16,682 24,587
At 31 October 2023 15,077 40,070 55,147

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,520,634 1,377,494
Other debtors 82,152 91,161
1,602,786 1,468,655

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 461,021 339,071
Taxation and social security 590,271 492,684
Other creditors 126,972 126,518
1,178,264 958,273

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 119,825 102,857
Between one and five years 8,912 4,921
128,737 107,778

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 6,147 10,229

REDWOOD COLLECTIONS LTD (REGISTERED NUMBER: 07028062)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


8. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 November 2023 10,229
Credit to Profit and Loss Account during year (4,082 )
Balance at 31 October 2024 6,147

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
120 Ordinary £1 120 120
360 A Redeemable £1 360 360
120 B Redeemable £1 120 120
120 C Redeemable £1 120 120
720 720

10. Directors' advances, credits and guarantees

At the year end, the directors owed the company Nil (2023: £98). The loans are interest free and repayable on demand.

11. Ultimate controlling party

There is no one ultimate controlling party.