Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312024-04-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10064079 2024-04-01 2025-03-31 10064079 2023-04-01 2024-03-31 10064079 2025-03-31 10064079 2024-03-31 10064079 c:Director1 2024-04-01 2025-03-31 10064079 d:FreeholdInvestmentProperty 2025-03-31 10064079 d:FreeholdInvestmentProperty 2024-03-31 10064079 d:CurrentFinancialInstruments 2025-03-31 10064079 d:CurrentFinancialInstruments 2024-03-31 10064079 d:Non-currentFinancialInstruments 2025-03-31 10064079 d:Non-currentFinancialInstruments 2024-03-31 10064079 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 10064079 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10064079 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 10064079 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10064079 d:ShareCapital 2025-03-31 10064079 d:ShareCapital 2024-03-31 10064079 d:InvestmentPropertiesRevaluationReserve 2024-04-01 2025-03-31 10064079 d:InvestmentPropertiesRevaluationReserve 2025-03-31 10064079 d:InvestmentPropertiesRevaluationReserve 2024-03-31 10064079 d:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 10064079 d:RetainedEarningsAccumulatedLosses 2025-03-31 10064079 d:RetainedEarningsAccumulatedLosses 2024-03-31 10064079 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 10064079 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10064079 d:TaxLossesCarry-forwardsDeferredTax 2025-03-31 10064079 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 10064079 d:OtherDeferredTax 2025-03-31 10064079 d:OtherDeferredTax 2024-03-31 10064079 c:FRS102 2024-04-01 2025-03-31 10064079 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 10064079 c:FullAccounts 2024-04-01 2025-03-31 10064079 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 10064079 6 2024-04-01 2025-03-31 10064079 e:PoundSterling 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Registered number: 10064079









REDSUMMER GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025

 
REDSUMMER GROUP LIMITED
REGISTERED NUMBER: 10064079

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Investments
 5 
1
1

Investment property
 6 
2,924,714
2,924,714

  
2,924,715
2,924,715

Current assets
  

Debtors
 7 
1,168
2,409

Cash at bank and in hand
 8 
11,766
29,884

  
12,934
32,293

Creditors: amounts falling due within one year
 9 
(1,451,744)
(2,848,296)

Net current liabilities
  
 
 
(1,438,810)
 
 
(2,816,003)

Total assets less current liabilities
  
1,485,905
108,712

Creditors: amounts falling due after more than one year
 10 
(1,392,552)
-

Provisions for liabilities
  

Deferred tax
 12 
(28,379)
(32,008)

  
 
 
(28,379)
 
 
(32,008)

Net assets
  
64,974
76,704


Capital and reserves
  

Called up share capital 
  
3
3

Investment property reserve
 13 
192,163
192,163

Profit and loss account
 13 
(127,192)
(115,462)

  
64,974
76,704


Page 1

 
REDSUMMER GROUP LIMITED
REGISTERED NUMBER: 10064079
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

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 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 by: 

Charles Wimborne
Director

Date: 15 April 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Redsummer Group Limited (the "Company") is a private company limited by share capital, incorporated under the Companies Act 2006 and domiciled in England. The address of the Company's registered office is 124 Finchley Road, London, England, NW3 5JS.

2.Accounting policies

  
2.1

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.

 
2.2

Basis of preparation of financial statements

The financial statements of the Company 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 Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.

  
2.3

Functional and presentational currency

Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.

 
2.4

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

Page 3

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.5

Going concern

In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the directors have reviewed the Company’s principal and emerging risks, existing loan facilities, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on their assessment, the directors at the time of approving the financial statements have a reasonable expectation that the Company has, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
While there will always remain inherent uncertainty, the directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the Company to continue as a going concern and therefore consider it both appropriate to continue to adopt the going concern basis in preparing the Company's financial statements and to not recognise any adjustments in the financial statements that would arise if the going concern basis were to become no longer appropriate.

 
2.6

Revenue

Turnover comprises rental income recognised in the period to which it relates on an accruals basis and measured at the fair value of consideration receivable.

 
2.7

Finance costs

Interest payable is charged to profit or loss 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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred unless where considered, in the opinion of the directors, to be material with respect to the value of the associated capital instrument upon which the respective borrowing costs on issue are initially recognised as a reduction against the proceeds of the associated capital instrument.

 
2.8

Taxation

Taxation for the Company comprises of current (i.e. corporation) and deferred taxation with respect to operations undertaken solely in the UK and is recognised in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date in the UK, where the Company solely operates.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date expected to apply when the related deferred tax asset/liability is realised/settled.
Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.

Page 4

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.9

Investment property

Investment property comprises of property held by the Company to earn income or for capital appreciation, or both.
Investment property is initially recognised at purchase cost plus directly attributable acquisition expenses and subsequently measured at fair value. Investment properties are not depreciated
Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise.
Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred. An investment property is derecognised for accounting purposes upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value) is recognised in profit or loss in the period the asset is derecognised.

 
2.10

Fixed asset investments

Fixed asset investments comprise of holdings in unlisted company shares of subsidiary undertakings which are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at cost less provision for impairment at the balance sheet date.

 
2.11

Debtors

Debtors excluding deferred tax assets (see note 2.8) are initially measured at transaction price (i.e. fair value) and subsequently held, at transaction price less provision for impairment.

 
2.12

Cash and cash equivalents

Cash balances are reported as being financial instruments classified as short term receivables and are represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours and subject to an insignificant risk of changes in value. Cash balances are held at floating interest rates linked to UK bank rates.

 
2.13

Creditors

Creditors are initially measured and subsequently held at transaction price.
Bank loans issued at commercial market rates are initially measured at transaction price net of transaction costs, where relevant (see note 2.7), and subsequently measured at amortised cost using the effective interest method with interest recognised on an effective yield basis.

 
2.14

Equity

Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.

Page 5

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually reevaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The judgments, estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below:
Investment properties
The fair value of investment properties is determined annually by the directors on an open market value basis by reference to specific advice from third party experts and available market evidence. From time to time, the directors may employ independent professional valuers to determine the fair value on their behalf.
In determining the fair value, the application, and therefore significant judgment, of unobservable inputs as well as a number of estimates and assumptions is required.
Key estimates and assumptions considered on valuation of investment property include market evidence on comparable transactions for similar properties, current market and investor expectations, occupancy rates, rental yields, the nature, location, condition and permissible uses of the specific investment property and consideration of hypothetical sellers and buyers, who are reasonably informed and motivated, but not compelled, to transact on an arm’s length basis.


4.


Employees

The average monthly number of employees, including directors, during the year was 0 (2024 - 0).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2024
1



At 31 March 2025
1




Page 6

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
2,924,714



At 31 March 2025
2,924,714

The 2025 valuations were made by the directors, on an open market value for existing use basis.





7.


Debtors

2025
2024
£
£

Falling due within one year

Trade debtors
673
1,914

Prepayments and accrued income
495
495

1,168
2,409


At the balance sheet date, the provision for impairment against debtors falling due within one year was £nil (2024: £nil).


8.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
11,766
29,884


Page 7

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
9,944
1,428,358

Other creditors
1,440,000
1,410,000

Accruals and deferred income
1,800
9,938

1,451,744
2,848,296



10.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
1,392,552
-


Bank loans inclusive of accrued interest are repayable in full five years following drawdown in April 2024, subject to interim capital repayments on sale of investment property held by the Company, and are secured by a fixed and floating charge over all present and future assets of the Company including a first legal charge with negative pledge over the freehold investment property held by the Company,


11.


Financial instruments

The Company held no financial instruments that would require specific disclosure under sections 11 or 12 of Financial Reporting Standard 102 and paragraph 36 of Schedule 1 to the Companies Act 2006.


12.


Deferred taxation




2025


£






At beginning of year
(32,008)


Charged to profit or loss
3,629



At end of year
(28,379)

Page 8

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
12.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Fair value movements on investment property revaluation
(63,963)
(63,963)

Tax losses carried forward
35,584
28,915

Other short term timing differences
-
3,040

(28,379)
(32,008)


In the opinion of the directors, deferred tax assets of approximately £20,000 are expected to reverse in the following financial reporting period.


13.


Reserves

Investment property revaluation reserve

The non-distributable investment property revaluation reserve comprises all current and prior period gains and (losses) on fair value revaluation of investment properties held by the Company net of provisions for deferred taxation.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and (losses) net of amounts transferred in respect of fair value movements on investment properties and amounts distributed as dividends to equity shareholders.


14.


Related party transactions

The Company has taken advantage of the exemptions provided by Section 33 of Financial Reporting Standard 102 from the requirement to disclose transactions undertaken or balances carried forward as at the balance sheet date between the Company and its wholly-owned group undertakings.
At the balance sheet date, the following interest-free and unsecured amounts were owed by the Company to companies connected by virtue of common control. Amounts owed are repayable on demand with no fixed date for repayment.


2025
2024
£
£

Redwood Securities Group Limited
720,000
705,000
Wimborne Estates Limited
720,000
705,000

There were no other related party transactions and/or period end balances to report in accordance with Financial Reporting Standard 102 or the Companies Act 2006 as part of these financial statements.

Page 9

 
REDSUMMER GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

15.


Controlling party

The Company was under the control of its directors.

 
Page 10