Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseNo description of principal activity00truetrue 08230201 2024-01-01 2024-12-31 08230201 2022-12-25 2023-12-31 08230201 2024-12-31 08230201 2023-12-31 08230201 c:Director3 2024-01-01 2024-12-31 08230201 d:FurnitureFittings 2024-01-01 2024-12-31 08230201 d:FurnitureFittings 2024-12-31 08230201 d:FurnitureFittings 2023-12-31 08230201 d:CurrentFinancialInstruments 2024-12-31 08230201 d:CurrentFinancialInstruments 2023-12-31 08230201 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08230201 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08230201 d:ShareCapital 2024-12-31 08230201 d:ShareCapital 2023-12-31 08230201 d:RetainedEarningsAccumulatedLosses 2024-12-31 08230201 d:RetainedEarningsAccumulatedLosses 2023-12-31 08230201 c:FRS102 2024-01-01 2024-12-31 08230201 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08230201 c:FullAccounts 2024-01-01 2024-12-31 08230201 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 08230201









REDSUMMER LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
REDSUMMER LIMITED
REGISTERED NUMBER: 08230201

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
2
2

  
2
2

Current assets
  

Stocks
 6 
330,000
330,000

Debtors: amounts falling due within one year
 7 
8,760
6,000

Cash at bank and in hand
 8 
143,193
11,861

  
481,953
347,861

Creditors: amounts falling due within one year
 9 
(163,000)
(2,145)

Net current assets
  
 
 
318,953
 
 
345,716

Total assets less current liabilities
  
318,955
345,718

  

Net assets
  
318,955
345,718


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
318,952
345,715

  
318,955
345,718


Page 1

 
REDSUMMER LIMITED
REGISTERED NUMBER: 08230201
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

Charles Wimborne
Director

Date: 23 February 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
REDSUMMER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Redsummer Limited (the "Company") is a private company limited by share capital, incorporated under the Companies Act 2006 and domiciled in England. The address of the Company's registered office is 124 Finchley Road, London, NW3 5JS.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Comparative figures

Comparatives are for the period commencing 25 December 2022 and ending 31 December 2023.

 
2.4

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the directors have reviewed the Company’s principal and emerging risks, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on their assessment, the directors at the time of approving the financial statements have a reasonable expectation that the Company has, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate. 

Page 3

 
REDSUMMER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

Taxation for the Company comprises of current (i.e. corporation) and deferred taxation with respect to operations undertaken solely in the UK and is recognised in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the UK, where the Company solely operates.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.

 
2.6

Tangible fixed assets

Tangible fixed assets are recognised under the cost model and stated at historical cost less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended upon acquisition.

The estimated useful lives range as follows:

Fixtures and fittings
-
3
years (straight-line basis)

Depreciation of a tangible fixed asset commences once the asset is available for use. The residual value and depreciation basis of tangible fixed assets are reviewed, and adjusted prospectively where deemed appropriate, if there is an indication of a significant change since the last balance sheet date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Property stocks are stated at the lower of cost and net realisable value after making due allowance for obsolescence and slow-movement.

Page 4

 
REDSUMMER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised upon becoming party to the contractual provisions of the instrument. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the underlying obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities and equity held by the Company is as outlined in notes 2.9 to 2.12 of the financial statements.

 
2.9

Debtors

Debtors excluding deferred tax assets (see note 2.5) are initially measured at transaction price (i.e. fair value) and subsequently held, at transaction price less provision for impairment.

 
2.10

Cash and cash equivalents

Cash balances are reported as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.

 
2.11

Creditors

Creditors are initially measured and subsequently held at transaction price.

 
2.12

Equity and dividends

Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value (i.e. transaction price).
Equity dividends are recognised upon approval of their issue by the Company's directors.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to apply judgment and make estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other available sources based on historical experience and other factors that are considered to be relevant. Consequently, actual results may differ from that originally estimated.
In the opinion of the directors, there were no judgments, estimates and/or assumptions made in applying the principal accounting policies, outlined in note 2 of these financial statements, towards the preparation of these financial statements that may be considered as having a significant risk of causing a material adjustment to the carrying amount of assets and/or liabilities carried forward as at the balance sheet date where by which the actual future outcome observed may differ from that originally determined and reported.

Page 5

 
REDSUMMER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 0 (2023 - 0).


5.


Tangible fixed assets





Fixtures, fittings & equipment

£



Cost


At 1 January 2024
3,508



At 31 December 2024

3,508



Depreciation


At 1 January 2024
3,506



At 31 December 2024

3,506



Net book value



At 31 December 2024
2



At 31 December 2023
2


6.


Stocks

2024
2023
£
£

Property stocks held for resale
330,000
330,000


The carrying value of stocks are stated net of impairment losses totalling £nil (2023 - £nil). Impairment losses totalling £nil (2023 - £nil) were recognised in profit and loss.


7.


Debtors

2024
2023
£
£

Falling due within one year

Other debtors
-
6,000

Deferred taxation
8,760
-
Page 6

 
REDSUMMER LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.Debtors (continued)


8,760
6,000


Other debtors falling due within one year are non-interest bearing and, in the opinion of the directors, of a fair value not deemed to be materially different from their carrying value.
As at the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2023: £nil).


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
143,193
11,861



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,800
-

Corporation tax
-
945

Other creditors
160,000
-

Accruals and deferred income
1,200
1,200

163,000
2,145



10.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


11.


Related party transactions

At the balance sheet date, the Company owed £30,000 (2023: £nil) to directors and companies under common control. Amounts owed by the Company are unsecured, non-interest bearing and repayable on demand with no fixed date for repayment.


12.


Controlling party

The Company was under the control of its directors.

 
Page 7