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Registered number: 10968068
REDAN TRADING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
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REDAN TRADING LIMITED
COMPANY INFORMATION
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REDAN TRADING LIMITED
CONTENTS
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Notes to the financial statements
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REDAN TRADING LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF REDAN TRADING LIMITED
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Redan Trading Limited for the period ended 30 September 2024 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the director of Redan Trading Limited in accordance with the terms of our engagement letter dated 1 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Redan Trading Limited and state those matters that we have agreed to state to the director of Redan Trading Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redan Trading Limited and its director for our work or for this report.
It is your duty to ensure that Redan Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Redan Trading Limited. You consider that Redan Trading Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or review of the financial statements of Redan Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
MA Partners LLP
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
11 June 2025
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REDAN TRADING LIMITED
REGISTERED NUMBER: 10968068
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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REDAN TRADING LIMITED
REGISTERED NUMBER: 10968068
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
The director considers 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 director acknowledges his 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 profit and loss account 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:
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M S Meijer
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The notes on pages 4 to 7 form part of these financial statements.
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REDAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
Redan Trading Limited is a private company limited by shares incorporated in England and Wales, registration number 10968068. The registered office is 5th Floor, Broadwick Street, London, W1F 8JB.
2.Accounting policies
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Basis of preparation of financial statements
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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:
The Company had net liabilities at the balance sheet date. The Company reported a profit for the period and the Director anticipates doing so in the future. The Company has significant cash balances and the Director is of the opinion that these will enable it to meet its obligations as they fall due for the foreseeable future, being a period of at least 12 months from the date these financial statements were approved, and has therefore prepared the financial statements on the going concern basis.
Turnover comprises rental income from property leased out under an operating lease and is recognised on a straight-line basis over the term of the lease.
Interest income is recognised in profit or loss using the effective interest method.
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.
Stock is valued at the lower of cost and net realisable value. Cost includes direct costs. Net realisable value is based upon the director's estimate of the potential sales value of the property held.
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.
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REDAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
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.
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The average monthly number of employees, including directors, during the period was 1 (2023 - 1).
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The carrying value of stocks are stated net of impairment losses totalling £2,246,990 (2023 - £2,246,990) Impairment losses totalling £Nil (2023 - £Nil)were recognised in profit and loss.
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REDAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
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Due after more than one year
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Called up share capital not paid
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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The bank loans are secured by a legal charge over the property in stock.
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REDAN TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
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Related party transactions
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As at 30 September 2024 a balance of £4,675,544 (2023: £4,675,544) was owed to the director. The balance is interest free, repayable on demand and is included within other creditors in note 6 to the financial statements.
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