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Registered number: 09600001 REDTREE VENTURES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
REDTREE VENTURES LIMITED REGISTERED NUMBER: 09600001 BALANCE SHEET AS AT 31 MARCH 2024
| 2024 | 2024 | 2023 | 2023
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Investments | 5 |  | 601 |  | 601
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,211,169 |  | 2,129,469 |
Cash at bank and in hand |  | 413 |  | 6,508 |
|  | 1,211,582 |  | 2,135,977 |
Creditors: amounts falling due within one year | 7 | (1,164,091) |  | (2,054,419) |
Net current assets |  |  | 47,491 |  | 81,558
Creditors: amounts falling due after more than one year | 8 |  | - |  | (21,603)
Net assets |  |  | 48,092 |  | 60,556
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 3 |  | 3
Profit and loss account |  |  | 48,089 |  | 60,553
|  |  | 48,092 |  | 60,556
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. Page 1
REDTREE VENTURES LIMITED REGISTERED NUMBER: 09600001 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 June 2025.
P E Summers
Director
The notes on pages 3 to 8 form part of these financial statements. Page 2
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. | General information
Redtree Ventures Limited ("the Company") is a company limited by shares, incorporated in England and Wales. Its registered office is 62 Salisbury Road, Walmer, Deal, Kent, CT14 7QJ. 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 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:
| 2.2 | Going concern
The accounts have been prepared on a going concern basis. The company is financed by the directors, who are also the owners. At the time of approval of these financial statements the directors have asserted their continued support and are of the opinion that the company will continue in operation for the foreseeable future.
| 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.
| 2.4 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are 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. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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 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.
| 2.9 | Taxation
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.
| 2.10 | 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, using the straight-line method. Depreciation is provided on the following annual basis:
|  |  |  | Plant and machinery | - | 33% |
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.
| 2.11 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment. Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Page 4
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2.Accounting policies (continued)
| 2.12 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.13 | 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.
| 2.14 | 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
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Wages and salaries | 102,200 | 93,867
| Social security costs | 7,848 | 7,890
| Cost of defined contribution scheme | 643 | -
|  | 110,691 | 101,757
| The average monthly number of employees, including directors, during the year was 4 (2023 - 4).
Page 5
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
4. | Tangible fixed assets
|  | Plant and machinery
|  | £
| Cost |
| At 1 April 2023 | 4,914
| At 31 March 2024 | 4,914
| Depreciation |
| At 1 April 2023 | 4,914
| At 31 March 2024 | 4,914
| Net book value |
| At 31 March 2024 | -
| At 31 March 2023 | -
5. | Fixed asset investments
|  | Investments in subsidiary companies
|  | £
| Cost or valuation |
| At 1 April 2023 | 601
| At 31 March 2024 | 601
Page 6
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
6. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 151,733 | 676,163
| Other debtors | 970,156 | 872,210
| Prepayments and accrued income | 89,280 | 581,096
|  | 1,211,169 | 2,129,469
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 27,564 | 9,973
| Corporation tax | - | 15,918
| Other taxation and social security | 33,749 | 11,219
| Other creditors | 1,096,860 | 2,011,391
| Accruals and deferred income | 5,918 | 5,918
|  | 1,164,091 | 2,054,419
8. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | - | 21,603
| The loan is unsecured is repayable in June 2026.
9. | Pension commitments
In the period the company incurred defined contribution pension costs of £643 (2023 - £Nil).
10. | Related party transactions
| At the year end the company owed the directors £356,304 (2023 - £1,087,450). Within other debtors are amounts of £1,115,126 (2023 - £1,505,350) owed from companies under common control.
Page 7
REDTREE VENTURES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
11. | Controlling party
The company has no controlling party. It is exempt from preparing consolidated group accounts as it is considered a small group.
Page 8