IRIS Accounts Production v25.4.0.155 11775492 director 1.1.24 31.12.24 31.12.24 false true false false true false Unpaid 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 11775492 2023-12-31 11775492 2024-12-31 11775492 2024-01-01 2024-12-31 11775492 2022-12-31 11775492 2023-01-01 2023-12-31 11775492 2023-12-31 11775492 ns14:PoundSterling 2024-01-01 2024-12-31 11775492 ns10:Director1 2024-01-01 2024-12-31 11775492 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11775492 ns10:SmallEntities 2024-01-01 2024-12-31 11775492 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 11775492 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 11775492 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11775492 ns10:FullAccounts 2024-01-01 2024-12-31 11775492 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 11775492 ns5:CurrentFinancialInstruments 2024-12-31 11775492 ns5:CurrentFinancialInstruments 2023-12-31 11775492 ns5:Non-currentFinancialInstruments 2024-12-31 11775492 ns5:Non-currentFinancialInstruments 2023-12-31 11775492 ns5:ShareCapital 2024-12-31 11775492 ns5:ShareCapital 2023-12-31 11775492 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 11775492 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 11775492 ns5:PlantMachinery 2023-12-31 11775492 ns5:PlantMachinery 2024-01-01 2024-12-31 11775492 ns5:PlantMachinery 2024-12-31 11775492 ns5:PlantMachinery 2023-12-31 11775492 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 11775492 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 11775492 ns10:OrdinaryShareClass1 2024-12-31

REGISTERED NUMBER: 11775492

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE [RE]DESIGN GROUP LTD

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

| Statement of Financial Position | 1 |

| Notes to the Financial Statements | 2 |

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

| 2024 |  | 2023

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 333 |  | 1,552 |  |

CURRENT ASSETS

Debtors | 5 | 135,096 |  | 38,501 |  |

Cash at bank | 179,092 |  | 69,994 |  |

314,188 |  | 108,495 |  |

CREDITORS

Amounts falling due within one year | 6 | (521,329 | ) | (249,847 | ) |

NET CURRENT LIABILITIES | (207,141 | ) | (141,352 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (206,808 | ) | (139,800 | ) |

CREDITORS

Amounts falling due after more than one year | 7 | (8,334 | ) | (18,334 | ) |

NET LIABILITIES | (215,142 | ) | (158,134 | ) |

CAPITAL AND RESERVES

Called up share capital | 8 | 1 |  | 1 |  |

Retained earnings | (215,143 | ) | (158,135 | ) |

SHAREHOLDERS' FUNDS | (215,142 | ) | (158,134 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2025 and were signed by:

J Sanginario - Director

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | GENERAL INFORMATION

| The [RE]Design Group Ltd is a private company (limited by shares), incorporated and domiciled in England and Wales. The address of the registered office is 16 Great Chapel Street, London, United Kingdom, W1F 8FL.

| The principal activity of the company is providing consultancy services in the field of information technology.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements 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 the Companies Act 2006.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

| The following principal accounting policies have been applied:

| Going concern

| The director considers the going concern basis to be appropriate, having paid due regard to the Company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows.

| The company has continued support from its related party creditor and the director, who have confirmed that they will not call in the balances if the company doesn't have funds to pay amounts outstanding within the next 12 months.

| Foreign currency translation

| Functional and presentational currency

| The Company's functional and presentational currency is GBP.

| Transactions and balances

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

| Revenue

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| 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. The following criteria must also be met before revenue is recognised:

| Rendering of services

| Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the contract;

| - the stage of completion of the contract at the end of the reporting period can be measured reliably; and

| - the costs incurred and the costs to complete the contract can be measured reliably

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | ACCOUNTING POLICIES - continued

| 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, on a reducing balance basis.

| Depreciation is provided on the following basis:

| Computer equipment - 33%

| Taxation

| Tax is recognised in profit or loss.

| 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.

| Pensions

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| 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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

| Borrowing costs

| All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.

| Debtors

| Short term debtors are measured at transaction price, less any impairment.

| 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.

| Creditors

| Short term creditors are measured at the transaction price

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2023 - 7 ) .

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

4. | TANGIBLE FIXED ASSETS

| Computer

| equipment

£ |

| Cost

| At 1 January 2024

| and 31 December 2024 | 14,829 |  |

| Depreciation

| At 1 January 2024 | 13,277 |  |

| Charge for year | 1,219 |  |

| At 31 December 2024 | 14,496 |  |

| Net book value

| At 31 December 2024 | 333 |  |

| At 31 December 2023 | 1,552 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Trade debtors | 117,623 |  | 21,606 |  |

| Other debtors | 7,861 |  | 6,701 |  |

| Called up share capital not

| paid | 1 |  | 1 |  |

| Prepayments | 9,611 |  | 10,193 |  |

135,096 |  | 38,501 |  |

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Amounts owed to group undertakings | 506,179 |  | 226,913 |  |

| Social security and other taxes | - |  | 6,949 |  |

| Bank loans | 10,000 |  | 10,000 |  |

| Accrued expenses | 5,150 |  | 5,985 |  |

521,329 |  | 249,847 |  |

7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 8,334 |  | 18,334 |  |

8. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 1 | Unpaid | 1 | 1 |  | 1 |  |

| THE [RE]DESIGN GROUP LTD (REGISTERED NUMBER: 11775492) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

9. | PENSION COMMITMENTS

| The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £474 (2023: £7,315). Contributions were payable to the fund of £Nil at the balance sheet date (2023: £Nil). The company had made an overpayment on contributions of £3,406 at the balance sheet date, which is sitting within other debtors (2023: £2,294).

10. | RELATED PARTY TRANSACTIONS

| The company has taken advantage of the exemption in Financial Reporting Standard 102 'Related Party Disclosures' from disclosing related party transactions within a 100% owned group.

11. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is The Drala Project Collective, a company incorporated in the United States of America, owning 100% of the share capital of the company.