REGISTERED NUMBER: 13507308 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

REDWOOD MATERIALS UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms A G Chao

C B Lankton

REGISTERED OFFICE:

4th Floor, St James House

St James Square

Cheltenham

Gloucestershire

GL50 3PR

REGISTERED NUMBER:

13507308 (England and Wales)

AUDITORS:

Malcolm Jones & Co Limited

Statutory auditors

West Hill House

Allerton Hill

Chapel Allerton

Leeds

LS37 3QB

FIXED ASSETS

Investments

4

-

3,005,411

CURRENT ASSETS

Debtors

5

-

270,045

Cash at bank

476,979

269,563

476,979

539,608

CREDITORS

Amounts falling due within one year

6

3,137,213

3,392,385

NET CURRENT LIABILITIES

(2,660,234

)

(2,852,777

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,660,234

)

152,634

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(2,660,334

)

152,534

(2,660,234

)

152,634

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

C B Lankton - Director

1.	STATUTORY INFORMATION

Redwood Materials UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

The company is contracted by its parent company, Redwood Materials Inc, to deliver sales and marketing services under an intercompany agreement. The company is remunerated by its parent for these services.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

The company relies on the continued support from its parent company, Redwood Materials Inc, which has confirmed that it will continue to provide this for the forseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Interest Income

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

Debtors

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 14 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

Cost

At 1 January 2024

3,005,411

Disposals

(3,005,411

)

At 31 December 2024

-

Net book value

At 31 December 2024

-

At 31 December 2023

3,005,411

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

268,174

Other debtors

-

1,871

-

270,045

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

2,982,002

3,319,685

Taxation and social security

78,199

42,835

Other creditors

77,012

29,865

3,137,213

3,392,385

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Andrew Wilkinson (Senior Statutory Auditor)

for and on behalf of Malcolm Jones & Co Limited

8.	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 £16,295 (2023: £18,670). Contributions totalling £514 (2023: £2,243) were payable to the fund at the balance sheet date and are included in creditors.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' section 1A, not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Redwood Materials Inc, a company incorporated in the United States of America. The smallest group in which the results of the company are consolidated is that headed by Redwood Materials Inc. The registered office of Redwood Materials Inc, is 2801 Lockheed Way, Carson City, NV 89706, United States of America.