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REDETEC LIMITED

Registered Number
06399133
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

REDETEC LIMITED
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

HOPWOOD, Cameron
HOPWOOD, Oliver

Registered Address

Unit 24 Berkeley Business Park
Turner Street
Ashton-Under-Lyne
OL6 8LB

Registered Number

06399133 (England and Wales)
REDETEC LIMITED
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-360,000
Tangible assets5157,52541,441
157,525401,441
Current assets
Stocks6232,716131,280
Debtors7127,091123,700
Cash at bank and on hand387,225-
747,032254,980
Creditors amounts falling due within one year8(357,581)(357,061)
Net current assets (liabilities)389,451(102,081)
Total assets less current liabilities546,976299,360
Creditors amounts falling due after one year9(66,188)(111,304)
Provisions for liabilities10(39,400)(7,874)
Net assets441,388180,182
Capital and reserves
Called up share capital100100
Profit and loss account441,288180,082
Shareholders' funds441,388180,182
The financial statements were approved and authorised for issue by the Board of Directors on 15 August 2025, and are signed on its behalf by:
HOPWOOD, Oliver
Director
Registered Company No. 06399133
REDETEC LIMITED
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-10
Fixtures and fittings25-
Vehicles25-
Office Equipment25-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company 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.
2.Average number of employees

20242023
Average number of employees during the year87
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 24550,000550,000
At 31 December 24550,000550,000
Amortisation and impairment
At 01 January 24190,000190,000
Charge for year80,00080,000
Other movements280,000280,000
At 31 December 24550,000550,000
Net book value
At 31 December 24--
At 31 December 23360,000360,000
4.Useful life of intangible assets
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Trademarks and Development costs have been set at 20 years and 5 years respectively. The assets have been amortised on a straight-line basis over these periods and due to impairment of these assets in the current year, there will be no further charge.
5.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 January 246,1067,67979,60716,196109,588
Additions-1,714131,405-133,119
Disposals-(2,216)-(1,794)(4,010)
At 31 December 246,1067,177211,01214,402238,697
Depreciation and impairment
At 01 January 243,7866,86145,12612,37468,147
Charge for year50642514,76597216,668
On disposals-(2,109)-(1,534)(3,643)
At 31 December 244,2925,17759,89111,81281,172
Net book value
At 31 December 241,8142,000151,1212,590157,525
At 31 December 232,32081834,4813,82241,441
6.Stocks

2024

2023

££
Other stocks232,716131,280
Total232,716131,280
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables116,04690,052
Other debtors83826,612
Prepayments and accrued income10,2077,036
Total127,091123,700
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables39,43935,259
Bank borrowings and overdrafts68,96365,886
Taxation and social security208,651152,420
Finance lease and HP contracts11,29911,274
Other creditors94433,473
Accrued liabilities and deferred income28,28558,749
Total357,581357,061
Hire purchase liabilities totalling £11,299 (2023 - £11,274) are included within finance lease and HP contracts. These liabilities are secured on the assets to which they relate.
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts46,244106,666
Other creditors19,9444,638
Total66,188111,304
Hire purchase liabilities totalling £19,944 (2023 - £4,638) are included within other creditors. These liabilities are secured on the assets to which they relate.
10.Provisions for liabilities
The provision for deferred tax is made up of £39,400 (2023 - £7,874) in respect of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)39,4007,874
Total39,4007,874