Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseNo description of principal activity3431false 03509769 2023-07-01 2024-06-30 03509769 2022-07-01 2023-06-30 03509769 2024-06-30 03509769 2023-06-30 03509769 c:Director1 2023-07-01 2024-06-30 03509769 c:Director2 2023-07-01 2024-06-30 03509769 c:Director3 2023-07-01 2024-06-30 03509769 c:Director4 2023-07-01 2024-06-30 03509769 c:RegisteredOffice 2023-07-01 2024-06-30 03509769 d:Buildings d:ShortLeaseholdAssets 2023-07-01 2024-06-30 03509769 d:Buildings d:ShortLeaseholdAssets 2024-06-30 03509769 d:Buildings d:ShortLeaseholdAssets 2023-06-30 03509769 d:MotorVehicles 2023-07-01 2024-06-30 03509769 d:MotorVehicles 2024-06-30 03509769 d:MotorVehicles 2023-06-30 03509769 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03509769 d:OfficeEquipment 2023-07-01 2024-06-30 03509769 d:OfficeEquipment 2024-06-30 03509769 d:OfficeEquipment 2023-06-30 03509769 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03509769 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 03509769 d:CurrentFinancialInstruments 2024-06-30 03509769 d:CurrentFinancialInstruments 2023-06-30 03509769 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 03509769 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 03509769 d:ShareCapital 2024-06-30 03509769 d:ShareCapital 2023-06-30 03509769 d:OtherMiscellaneousReserve 2024-06-30 03509769 d:OtherMiscellaneousReserve 2023-06-30 03509769 d:RetainedEarningsAccumulatedLosses 2024-06-30 03509769 d:RetainedEarningsAccumulatedLosses 2023-06-30 03509769 c:FRS102 2023-07-01 2024-06-30 03509769 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03509769 c:FullAccounts 2023-07-01 2024-06-30 03509769 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03509769 d:WithinOneYear 2024-06-30 03509769 d:WithinOneYear 2023-06-30 03509769 d:BetweenOneFiveYears 2024-06-30 03509769 d:BetweenOneFiveYears 2023-06-30 iso4217:GBP xbrli:pure
Company registration number: 03509769







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024


REDINET LIMITED






































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REDINET LIMITED
 


 
COMPANY INFORMATION


Directors
C Bridle 
J K McMillan 
T J Dansey 
A R Cross 




Registered number
03509769



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


REDINET LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7

 


REDINET LIMITED
REGISTERED NUMBER:03509769



STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
166,107
251,165

  
166,107
251,165

Current assets
  

Stocks
  
848
10,623

Debtors: amounts falling due within one year
 5 
1,982,388
1,645,567

Cash at bank and in hand
  
1,491,090
1,310,353

  
3,474,326
2,966,543

Creditors: amounts falling due within one year
 6 
(1,137,243)
(828,587)

Net current assets
  
 
 
2,337,083
 
 
2,137,956

Total assets less current liabilities
  
2,503,190
2,389,121

Provisions for liabilities
  

Deferred tax
  
(40,393)
(61,703)

  
 
 
(40,393)
 
 
(61,703)

Net assets
  
2,462,797
2,327,418

Page 1

 


REDINET LIMITED
REGISTERED NUMBER:03509769


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

2024
2023
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
7,501
7,501

Capital redemption reserve
  
2,500
2,500

Profit and loss account
  
2,452,796
2,317,417

  
2,462,797
2,327,418


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 income and retained earnings 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: 



C Bridle
Director

Date: 24 March 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


REDINET LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Redinet Limited is a private Company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements. The address of the Company's principle place of business is 1 Stanley Road, Bromley, Kent, BR2 9JE.
The significant accounting policies applied in the preparation of these financial statements are set out below.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue in respect of IT and hosted services provided during the period and is recognised in the period to which it relates. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Income and Retained Earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 July 2022 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.4

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.

Page 3

 


REDINET LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

Short-term leasehold property
-
25%
Straight line basis
Motor vehicles
-
25%
Reducing balance basis
Equipment
-
25%
Straight line basis

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 Income and Retained Earnings.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

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 profit or loss.

 
2.6

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 Income and Retained Earnings 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.

Page 4

 


REDINET LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 Statement of Financial Position 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.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 31).

Page 5

 


REDINET LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Short-term leasehold property
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
55,855
56,460
652,596
764,911


Additions
-
-
10,203
10,203



At 30 June 2024

55,855
56,460
662,799
775,114



Depreciation


At 1 July 2023
41,399
37,577
434,770
513,746


Charge for the year
6,494
4,721
84,046
95,261



At 30 June 2024

47,893
42,298
518,816
609,007



Net book value



At 30 June 2024
7,962
14,162
143,983
166,107



At 30 June 2023
14,456
18,883
217,826
251,165


5.


Debtors

2024
2023
£
£


Trade debtors
1,278,976
820,821

Amounts owed by group undertakings
631,692
740,709

Other debtors
18,348
17,799

Prepayments and accrued income
53,372
66,238

1,982,388
1,645,567


Page 6

 


REDINET LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
499,121
241,708

Corporation tax
82,431
32,721

Other taxation and social security
187,327
222,586

Other creditors
30,077
27,153

Accruals and deferred income
338,287
304,419

1,137,243
828,587



7.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments under non-cancellable operating leases as follows:

2024
2023
£
£


Not later than 1 year
59,398
8,898

Later than 1 year and not later than 5 years
128,333
-

187,731
8,898

 
Page 7