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REGISTERED NUMBER: 07332063 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Redshank IT Services Ltd

Redshank IT Services Ltd (Registered number: 07332063)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Redshank IT Services Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: T M Carlton-King





REGISTERED OFFICE: 3 Palmerston Mansions
Palmerston Road
Southsea
Hampshire
PO5 3QJ





REGISTERED NUMBER: 07332063 (England and Wales)





ACCOUNTANTS: Ency Associates
Chartered Certified Accountants
Printware Court
Cumberland Business Centre
Northumberland Road
Portsmouth
Hampshire
PO5 1DS

Redshank IT Services Ltd (Registered number: 07332063)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,341 1,277

CURRENT ASSETS
Stocks 55,581 34,876
Debtors 5 268,423 654,613
Cash at bank 34,112 17,509
358,116 706,998
CREDITORS
Amounts falling due within one year 6 328,209 676,135
NET CURRENT ASSETS 29,907 30,863
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,248

32,140

PROVISIONS FOR LIABILITIES 1,085 243
NET ASSETS 33,163 31,897

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 33,063 31,797
SHAREHOLDERS' FUNDS 33,163 31,897

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

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

The director acknowledges his 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.

Redshank IT Services Ltd (Registered number: 07332063)

Balance Sheet - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 December 2024 and were signed by:





T M Carlton-King - Director


Redshank IT Services Ltd (Registered number: 07332063)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Redshank IT Services 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Redshank IT Services Ltd (Registered number: 07332063)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued
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.

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 12 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures Computer
& fittings equipment Totals
£    £    £   
COST
At 1 September 2023 - 1,915 1,915
Additions 714 4,751 5,465
At 31 August 2024 714 6,666 7,380
DEPRECIATION
At 1 September 2023 - 638 638
Charge for year 179 2,222 2,401
At 31 August 2024 179 2,860 3,039
NET BOOK VALUE
At 31 August 2024 535 3,806 4,341
At 31 August 2023 - 1,277 1,277

Redshank IT Services Ltd (Registered number: 07332063)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 251,150 165,405
Amounts owed by group undertakings - 488,672
Other debtors 17,273 536
268,423 654,613

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 200,532 124,038
Amounts owed to group undertakings 84,444 516,634
Taxation and social security 17,532 8,992
Other creditors 25,701 26,471
328,209 676,135

7. RELATED PARTY DISCLOSURES

T M Carlton-King
Director


31.8.24 31.8.23
£    £   
Amount due to related party at the balance sheet date - 14

The Redshank Group Ltd

Parent company


31.8.24 31.8.23
£    £   
Amount due to related party at the balance sheet date 84,444 492,302

Redshank IT Services Ltd (Registered number: 07332063)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. RELATED PARTY DISCLOSURES - continued

Redshank Online Ltd

Associated company


31.8.24 31.8.23
£    £   
Amount due from related party at the balance sheet date - 104,601

Redshank Large Format Limited

Associated company


31.8.24 31.8.23
£    £   
Amount due to related party at the balance sheet date - 24,332

Redshank Office Supplies Limited

Associated company


31.8.24 31.8.23
£    £   
Amount due from related party at the balance sheet date - 384,071

8. ULTIMATE CONTROLLING PARTY

The controlling party is T M Carlton-King.