ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

Registered number: 06503520

REDSPINNER LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025


REDSPINNER LIMITED REGISTERED NUMBER:06503520

STATEMENT OF FINANCIAL POSITION

AS AT 28 FEBRUARY 2025

	28 February	29 February
	2025	2024
Note	£	£

Fixed assets
Tangible assets	4		343		515
Investment property	5		430,000		430,000
			430,343		430,515
Current assets
Cash at bank and in hand		376,812		370,568
		376,812		370,568
Creditors: amounts falling due within one year	6	(3,902)		(4,575)
Net current assets			372,910		365,993
Total assets less current liabilities			803,253		796,508
Provisions for liabilities
Deferred tax	7	(24,773)		(24,816)
			(24,773)		(24,816)
Net assets			778,480		771,692

Capital and reserves
Called up share capital	1	1
Profit and loss account	778,479	771,691
	778,480	771,692

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REDSPINNER LIMITED REGISTERED NUMBER:06503520

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 28 FEBRUARY 2025

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 year 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 income statement 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:

................................................

Mr B Lodge

Director

Date: 18 November 2025

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REDSPINNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1.	General information

Redspinner Limited is a private company limited by shares and incorporated in England and Wales, registration number 06503520. The registered office is 1 Queens Close, Norwich, NR4 7PE

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The following principal accounting policies have been applied:

2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.3

Current and deferred taxation

The tax expense for the year 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 reporting 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 reporting 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 reporting date.

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REDSPINNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.4

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 basis:

Computer equipment

20%

Straight line

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.

2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

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.

2.7

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.

2.8

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.

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REDSPINNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost
	At 1 March 2024	859
	At 28 February 2025	859
	Depreciation
	At 1 March 2024	344
	Charge for the year	172
	At 28 February 2025	516
	Net book value
	At 28 February 2025	343
	At 29 February 2024	515

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REDSPINNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 March 2024	430,000
	At 28 February 2025	430,000

	Comprising
	Cost	430,000
	At 28 February 2025	430,000

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

Corporation tax	1,622	2,367
Accruals and deferred income	2,280	2,208
	3,902	4,575

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REDSPINNER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

7.	Deferred taxation

		2025
		£

	At beginning of year	(24,816)
	Charged to profit or loss	43
	At end of year	(24,773)

Accelerated capital allowances	(86)	(129)
Investment properties	(24,687)	(24,687)
	(24,773)	(24,816)

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