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REGISTERED NUMBER: 09068067 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

A.G.Redman&Son Ltd

A.G.Redman&Son Ltd (Registered number: 09068067)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A.G.Redman&Son Ltd

Company Information
for the Year Ended 30 June 2024







Directors: Mr A G Redman
Mr S A Redman





Registered office: Crowthers
The Courtyard
19 High Street
Pershore
Worcestershire
WR10 1AA





Registered number: 09068067 (England and Wales)





Accountants: Crowthers Chartered Accountants
1 Ripple Court
Brockeridge Park
Tewkesbury
Gloucestershire
GL20 6FG

A.G.Redman&Son Ltd (Registered number: 09068067)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,000
Property, plant and equipment 5 710,396 624,792
710,396 631,792

CURRENT ASSETS
Inventories 13,994 16,674
Debtors 6 81,306 134,448
Cash at bank and in hand 176,720 70,818
272,020 221,940
CREDITORS
Amounts falling due within one year 7 285,667 179,433
NET CURRENT (LIABILITIES)/ASSETS (13,647 ) 42,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

696,749

674,299

CREDITORS
Amounts falling due after more than one
year

8

(78,733

)

(70,968

)

PROVISIONS FOR LIABILITIES (177,599 ) (156,198 )
NET ASSETS 440,417 447,133

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 440,317 447,033
SHAREHOLDERS' FUNDS 440,417 447,133

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

A.G.Redman&Son Ltd (Registered number: 09068067)

Balance Sheet - continued
30 June 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 Statement of Income and Retained Earnings has not been delivered.

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:





Mr S A Redman - Director


A.G.Redman&Son Ltd (Registered number: 09068067)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

A.G.Redman&Son 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.

Turnover
Turnover represents the value of goods sold during the period, net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Turnover also represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Goodwill
Goodwill, being the amount paid for the acquisition of the business of AG Redman & Son on 30 June 2014. This is being amortised evenly over it's estimated useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

A.G.Redman&Son Ltd (Registered number: 09068067)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


A.G.Redman&Son Ltd (Registered number: 09068067)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 July 2023
and 30 June 2024 70,000
Amortisation
At 1 July 2023 63,000
Charge for year 7,000
At 30 June 2024 70,000
Net book value
At 30 June 2024 -
At 30 June 2023 7,000

A.G.Redman&Son Ltd (Registered number: 09068067)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 July 2023 798,900 239,353 2,784 1,041,037
Additions 256,207 - - 256,207
Disposals (75,000 ) - - (75,000 )
At 30 June 2024 980,107 239,353 2,784 1,222,244
Depreciation
At 1 July 2023 276,436 137,125 2,684 416,245
Charge for year 69,996 25,557 50 95,603
At 30 June 2024 346,432 162,682 2,734 511,848
Net book value
At 30 June 2024 633,675 76,671 50 710,396
At 30 June 2023 522,464 102,228 100 624,792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,306 134,448

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 89,219 35,619
Trade creditors 31,386 31,583
Taxation and social security 28,125 27,680
Other creditors 136,937 84,551
285,667 179,433

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 78,733 70,968

A.G.Redman&Son Ltd (Registered number: 09068067)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   

HSBC Bank plc hold a fixed and floating charge over all assets, this contains a negative pledge.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is £133,412 (2023: £78,248) owed to the directors. The loans are unsecured and repayable on demand. Interest has been charged at 8% on the loans.