Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falsefalsefalsetrueNo description of principal activity1614true SC279641 2024-01-01 2024-12-31 SC279641 2023-01-01 2023-12-31 SC279641 2024-12-31 SC279641 2023-12-31 SC279641 1 2024-01-01 2024-12-31 SC279641 d:Director1 2024-01-01 2024-12-31 SC279641 c:Buildings c:LongLeaseholdAssets 2024-01-01 2024-12-31 SC279641 c:Buildings c:LongLeaseholdAssets 2024-12-31 SC279641 c:Buildings c:LongLeaseholdAssets 2023-12-31 SC279641 c:PlantMachinery 2024-01-01 2024-12-31 SC279641 c:PlantMachinery 2024-12-31 SC279641 c:PlantMachinery 2023-12-31 SC279641 c:PlantMachinery c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC279641 c:MotorVehicles 2024-01-01 2024-12-31 SC279641 c:MotorVehicles 2024-12-31 SC279641 c:MotorVehicles 2023-12-31 SC279641 c:MotorVehicles c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC279641 c:FurnitureFittings 2024-01-01 2024-12-31 SC279641 c:FurnitureFittings 2024-12-31 SC279641 c:FurnitureFittings 2023-12-31 SC279641 c:FurnitureFittings c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC279641 c:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC279641 c:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 SC279641 c:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 SC279641 c:CurrentFinancialInstruments 2024-12-31 SC279641 c:CurrentFinancialInstruments 2023-12-31 SC279641 c:Non-currentFinancialInstruments 2024-12-31 SC279641 c:Non-currentFinancialInstruments 2023-12-31 SC279641 c:CurrentFinancialInstruments c:WithinOneYear 2024-12-31 SC279641 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 SC279641 c:Non-currentFinancialInstruments c:AfterOneYear 2024-12-31 SC279641 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 SC279641 c:ShareCapital 2024-12-31 SC279641 c:ShareCapital 2023-12-31 SC279641 c:RetainedEarningsAccumulatedLosses 2024-12-31 SC279641 c:RetainedEarningsAccumulatedLosses 2023-12-31 SC279641 c:AcceleratedTaxDepreciationDeferredTax 2024-12-31 SC279641 c:AcceleratedTaxDepreciationDeferredTax 2023-12-31 SC279641 d:OrdinaryShareClass1 2024-01-01 2024-12-31 SC279641 d:OrdinaryShareClass1 2024-12-31 SC279641 d:FRS102 2024-01-01 2024-12-31 SC279641 d:Audited 2024-01-01 2024-12-31 SC279641 d:FullAccounts 2024-01-01 2024-12-31 SC279641 d:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC279641 c:HirePurchaseContracts c:WithinOneYear 2024-12-31 SC279641 c:HirePurchaseContracts c:WithinOneYear 2023-12-31 SC279641 c:HirePurchaseContracts c:BetweenOneFiveYears 2024-12-31 SC279641 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-12-31 SC279641 d:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC279641 c:PatentsTrademarksLicencesConcessionsSimilar c:ExternallyAcquiredIntangibleAssets 2024-01-01 2024-12-31 SC279641 2 2024-01-01 2024-12-31 SC279641 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2024-01-01 2024-12-31 SC279641 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC279641









REDMYLE LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
REDMYLE LIMITED
REGISTERED NUMBER: SC279641

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
11,286
-

Tangible assets
 5 
2,335,517
2,517,663

  
2,346,803
2,517,663

Current assets
  

Stocks
 6 
25,050
25,050

Debtors: amounts falling due within one year
 7 
1,358,142
1,277,319

Cash at bank and in hand
 8 
82,799
103,965

  
1,465,991
1,406,334

Creditors: amounts falling due within one year
 9 
(694,630)
(522,647)

Net current assets
  
 
 
771,361
 
 
883,687

Total assets less current liabilities
  
3,118,164
3,401,350

Creditors: amounts falling due after more than one year
 10 
(644,864)
(694,197)

Provisions for liabilities
  

Deferred tax
 12 
(543,610)
(577,684)

  
 
 
(543,610)
 
 
(577,684)

Net assets
  
1,929,690
2,129,469


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
  
1,929,590
2,129,369

  
1,929,690
2,129,469


Page 1

 
REDMYLE LIMITED
REGISTERED NUMBER: SC279641
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

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

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 on 17 March 2025.


M J Thomas
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

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

1.


General information

Redmyle Limited is a company limited by shares, registered in Scotland. The address of the registered office is 35-37 Montrose Avenue, Hillington park, Glasgow, Scotland, G52 4LA.
The company specialises in hire and sale of plant.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:

 
2.2

Going concern

The director notes that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date of approval of these financial statements. As such, the director believes that there are no significant uncertainties in his assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Page 3

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

2.Accounting policies (continued)


2.3
Revenue (continued)

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

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

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
The intangible assets are amortised over a period of 5 years.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

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

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. 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 by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Long-term leasehold property
-
25%
Written down value
Plant and machinery
-
20%
Written down value
Motor vehicles
-
25%
Written down value
Fixtures and fittings
-
20%
Written down value

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

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

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly numbers of employees, including the director, during the year was 16 (2023 - 14).


4.


Intangible assets




Software
development

£



Cost


Additions
11,841



At 31 December 2024

11,841



Amortisation


Charge for the year
555



At 31 December 2024

555



Net book value



At 31 December 2024
11,286



At 31 December 2023
-



Page 7

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

5.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost


At 1 January 2024
19,397
4,530,752
557,663
149,411
5,257,223


Additions
-
302,461
87,285
2,431
392,177


Disposals
-
(2,219)
(27,388)
-
(29,607)



At 31 December 2024

19,397
4,830,994
617,560
151,842
5,619,793



Depreciation


At 1 January 2024
4,774
2,397,571
273,879
63,336
2,739,560


Charge for the year
3,656
463,018
71,737
16,984
555,395


Disposals
-
(1,673)
(9,006)
-
(10,679)



At 31 December 2024

8,430
2,858,916
336,610
80,320
3,284,276



Net book value



At 31 December 2024
10,967
1,972,078
280,950
71,522
2,335,517



At 31 December 2023
14,623
2,133,181
283,784
86,075
2,517,663

Included above is £1,297,938 (2023 - £1,393,631) carrying value of assets which the company has pledged as security.


6.


Stocks

2024
2023
£
£

Raw materials and consumables
25,050
25,050

25,050
25,050


Page 8

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

7.


Debtors

2024
2023
£
£


Trade debtors
625,293
660,064

Amounts owed by group undertakings
640,930
500,000

Other debtors
25,437
25,437

Prepayments and accrued income
66,482
91,818

1,358,142
1,277,319



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
82,799
103,965

82,799
103,965



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
197,711
147,994

Corporation tax
52,238
-

Other taxation and social security
73,053
20,016

Obligations under financial leases and hire purchase contracts
312,230
289,571

Other creditors
100
5,666

Accruals and deferred income
59,298
59,400

694,630
522,647



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under financial leases and hire purchase contracts
644,864
694,197

644,864
694,197


Page 9

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

11.


Hire purchase and finance leases


The following secured debts are included within creditors:

2024
2023
£
£


Within one year
312,230
289,571

Between 1-5 years
644,864
694,197

957,094
983,768

Hire purchase agreements are secured against the assets to which the specific agreements relate.


12.


Deferred taxation




2024


£






At beginning of year
577,684


Credited to the Statement of comprehensive income
(34,074)



At end of year
543,610

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
543,610
577,684

543,610
577,684


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100


Page 10

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

14.


Pension commitments

The company operates a defined pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable to the fund and amounted to £14,444 (2023 - £13,546). The pension fund balance outstanding at the reporting date was £Nil (2023 - £Nil).


15.


Related party transactions

The company has adopted the exemption permitted by Financial Reporting Standard 102, not to disclose
any transactions with wholly owned members of the group.


16.


Post balance sheet events

There are no subsequent events that require disclosure or adjustments to the financial statements.


17.


Ultimate parent undertaking and controlling party

The immediate parent undertaking is El-Bjorn UK Limited and the ultimate parent undertaking which prepares group financial statements is United Power AB. The registered office of United Power AB is Wallingatan 2, 111 60 Stockholm, Sweden.
The Company is controlled by Mr Nils Gustaf Bergstrom due to his majority shareholding in United Power AB.


18.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 18 March 2025 by Elliot S J Arwas (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 11