Redwing Quay Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01247052 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

REDWING QUAY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Michael Richard MacInnes

Mr Robin Darley Ebsworth

SECRETARY:

Mr Timothy William Woodcock

REGISTERED OFFICE:

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

REGISTERED NUMBER:

01247052 (England and Wales)

ACCOUNTANTS:

Mackenzies

Chartered Accountants

1 Langley Court

Pyle Street

Newport

Isle of Wight

PO30 1LA

FIXED ASSETS

Tangible assets

4

27,929

27,995

CURRENT ASSETS

Debtors

5

7,529

9,089

Cash at bank

49,146

35,907

56,675

44,996

CREDITORS

Amounts falling due within one year

6

33,139

5,429

NET CURRENT ASSETS

23,536

39,567

TOTAL ASSETS LESS CURRENT LIABILITIES

51,465

67,562

CREDITORS

Amounts falling due after more than one year

7

(3,200

)

(3,200

)

PROVISIONS FOR LIABILITIES

8

(27,560

)

(27,560

)

NET ASSETS

20,705

36,802

CAPITAL AND RESERVES

Called up share capital

9

20,000

20,000

Retained earnings

10

705

16,802

SHAREHOLDERS' FUNDS

20,705

36,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 August 2022 and were signed on its behalf by:

Mr Michael Richard MacInnes - Director

1.	STATUTORY INFORMATION

Redwing Quay 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.

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.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

10% on reducing balance

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Long

Fixtures

leasehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2021

and 31 December 2021

27,334

13,649

40,983

DEPRECIATION

At 1 January 2021

-

12,988

12,988

Charge for year

-

66

66

At 31 December 2021

-

13,054

13,054

NET BOOK VALUE

At 31 December 2021

27,334

595

27,929

At 31 December 2020

27,334

661

27,995

Land and buildings represents a long leasehold property acquired by the company during 1976 on a term of 999 years. No amortisation is provided on this property.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

7,089

7,332

Prepayments

440

1,757

7,529

9,089

Other debtors consists of rent receivable and recharged expenditure.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors and accruals

31,376

1,986

Other creditors

1,763

3,443

33,139

5,429

Included with trade creditors and accruals is the first £30,000 of ongoing maintenance and repainting of the boat sheds.The total cost is expected to be over £100,000.

Other creditors consists of advance received on account of rent and other recharged expenditure.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Members loans

3,200

3,200

Unsecured, interest free loans from members totalling £3,200 (2019: £3,200).

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Other provisions

27,560

27,560

Other provisions consists of a Crane Hoist Reserve of £7,200 (2019: £6,000), a Property Reserve of £20,360 (2019: £15,500), and a Quay Reserve of £nil (2019: £8,859).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

20,000

Ordinary Shares

£1

20,000

20,000

10.

RESERVES

Retained

earnings

£

At 1 January 2021

16,802

Deficit for the year

(16,097

)

At 31 December 2021

705

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party. 75% of the company's issued share capital is held by the ultimate parent company Redwing Club Limited.