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Registered number: 06028220










RED NECTAR LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2024



 
RED NECTAR LIMITED
REGISTERED NUMBER: 06028220

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,061
7,195

Current assets
  

Debtors: amounts falling due within one year
 5 
83,635
44,289

Cash at bank and in hand
 6 
340,391
451,608

  
424,026
495,897

Creditors: amounts falling due within one year
 7 
(37,711)
(99,502)

Net current assets
  
 
 
386,315
 
 
396,395

Total assets less current liabilities
  
394,376
403,590

Provisions for liabilities
  

Deferred tax
 8 
(1,869)
(1,800)

  
 
 
(1,869)
 
 
(1,800)

Net assets
  
392,507
401,790


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
392,407
401,690

  
392,507
401,790


Page 1

 
RED NECTAR LIMITED
REGISTERED NUMBER: 06028220

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 period 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: 



S Mays
Director

Date: 28 March 2025

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

Page 2

 
RED NECTAR LIMITED
 

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

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of 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:

 
1.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
1.3

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
RED NECTAR LIMITED
 

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

1.Accounting policies (continued)

 
1.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss 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 balance sheet 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 balance sheet 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 balance sheet date.


 
1.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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 profit or loss.

 
1.6

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.

Page 4

 
RED NECTAR LIMITED
 

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

1.Accounting policies (continued)

 
1.7

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.

 
1.8

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.

 
1.9

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 profit or loss.

 
1.10

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.


2.


General information

Red Nectar Limited is a limited company incorporated in England and Wales. The Company’s registered office is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.


3.


Employees

The average monthly number of employees, including directors, during the period was 4 (2023 - 4).

Page 5

 
RED NECTAR LIMITED
 

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

4.


Tangible fixed assets





Fixtures and fittings
Office Equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
8,773
18,099
26,872


Additions
-
3,632
3,632


Disposals
-
(2,669)
(2,669)



At 30 June 2024

8,773
19,062
27,835



Depreciation


At 1 July 2023
7,885
11,792
19,677


Charge for the period on owned assets
351
1,873
2,224


Disposals
-
(2,127)
(2,127)



At 30 June 2024

8,236
11,538
19,774



Net book value



At 30 June 2024
537
7,524
8,061



At 30 June 2023
888
6,307
7,195


5.


Debtors

2024
2023
£
£


Trade debtors
35,218
25,076

Other debtors
48,417
19,213

83,635
44,289


Included within Other debtors due within one year is a loan to the directors amounting to £2,033 (2023 - £Nil). The maximum amount owing during the year was £3,033 (2023 - £Nil). The directors intend to repay the loan by 31 March 2025.



Page 6

 
RED NECTAR LIMITED
 

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

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
340,391
451,608



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Taxation and social security
36,081
47,905

Directors' loan account
-
48,717

Other creditors
1,630
2,880

37,711
99,502



8.


Deferred taxation




2024


£






At beginning of year
(1,800)


Charged to profit or loss
(69)



At end of year
(1,869)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,869)
(1,800)


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary A shares of £1.00 each
50
50
50 (2023 - 50) Ordinary B shares of £1.00 each
50
50

100

100



Page 7