Redab Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02333930 (England and Wales)

REDAB LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C G Pettersson

Ms B M Sundgren

SECRETARY:

Ms B M Sundgren

REGISTERED OFFICE:

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

REGISTERED NUMBER:

02333930 (England and Wales)

ACCOUNTANTS:

Brindley Jacob

Chartered Accountants

167 Turners Hill

Cheshunt

Hertfordshire

EN8 9BH

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

3,092,698

3,112,696

Investment property

6

1,066,218

808,318

4,158,916

3,921,014

CURRENT ASSETS

Debtors

7

4,086,618

4,080,348

Cash at bank

15,585

10,265

4,102,203

4,090,613

CREDITORS

Amounts falling due within one year

8

4,303,944

4,253,457

NET CURRENT LIABILITIES

(201,741

)

(162,844

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,957,175

3,758,170

CREDITORS

Amounts falling due after more than one year

9

(136,632

)

(136,632

)

ACCRUALS AND DEFERRED INCOME

(460,036

)

(331,000

)

NET ASSETS

3,360,507

3,290,538

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Revaluation reserve

10

2,448,683

2,339,717

Retained earnings

861,824

900,821

SHAREHOLDERS' FUNDS

3,360,507

3,290,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 May 2022 and were signed on its behalf by:

C G Pettersson - Director

Ms B M Sundgren - Director

1.	STATUTORY INFORMATION

Redab Limited is a private company , 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Redab Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

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', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 a rate calculated to write off the fixed assets over their useful lives to the company.

Plant & Machinery - 20% reducing balance

Fixtures & Fittings - 20% reducing balance

Investments in subsidiaries

Subsidiaries are included at their net Balance sheet values.

Investment property

investment property is shown at an open market valuation. Any aggregate surplus or deficit arising from change in the open market value are transfered to a revaluation reserve.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 December 2020

and 30 November 2021

10,152

60,551

70,703

DEPRECIATION

At 1 December 2020

and 30 November 2021

10,152

60,551

70,703

NET BOOK VALUE

At 30 November 2021

-

-

-

At 30 November 2020

-

-

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 December 2020

3,112,696

Disposals

(100

)

Revaluations

(19,898

)

At 30 November 2021

3,092,698

NET BOOK VALUE

At 30 November 2021

3,092,698

At 30 November 2020

3,112,696

Cost or valuation at 30 November 2021 is represented by:

Shares in

group

undertakings

£

Valuation in 2011

2,078,924

Valuation in 2012

4,370

Valuation in 2013

669,537

Valuation in 2014

290,280

Valuation in 2015

(172,452

)

Valuation in 2016

(168,210

)

Valuation in 2017

(943,333

)

Valuation in 2018

249,011

Valuation in 2019

(9,736

)

Valuation in 2020

(19,898

)

Cost

1,114,205

3,092,698

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2020

808,318

Revaluations

257,900

At 30 November 2021

1,066,218

NET BOOK VALUE

At 30 November 2021

1,066,218

At 30 November 2020

808,318

Fair value at 30 November 2021 is represented by:

£

Valuation in 2006

180,248

Valuation in 2008

85,635

Valuation in 2010

83,122

Valuation in 2011

125,000

Valuation in 2012

(15,000

)

Valuation in 2014

(39,500

)

Valuation in 2015

(60,500

)

Valuation in 2016

40,684

Valuation in 2020

272,634

Valuation in 2021

257,900

Cost

135,995

1,066,218

If investment property had not been revalued it would have been included at the following historical cost:

30.11.21

30.11.20

£

£

Cost

135,995

135,995

Investment property was valued on open market value basis on 30 November 2021 by the Directors of the company .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade debtors

1,000

-

Amounts owed by group undertakings

3,969,573

3,967,573

Other debtors

112,557

112,500

VAT

3,488

275

4,086,618

4,080,348

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.21

30.11.20

£

£

Trade creditors

27,555

3,192

Amounts owed to group undertakings

2,358,620

2,312,277

Other creditors

3,581

193

Unsecured loans

880,378

893,778

Directors' current accounts

794,404

803,058

Accrued expenses

239,406

240,959

4,303,944

4,253,457

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.21

30.11.20

£

£

Accruals and deferred income

136,632

136,632

10.

RESERVES

Revaluation

reserve

£

At 1 December 2020

2,339,717

Revaluation of Property

257,900

Revaluation of subsidiaries

(19,898

)

Revaluation profit share

(129,036

)

At 30 November 2021

2,448,683

11.	CONTINGENT LIABILITIES

The company have given an undertaking to provide financial support to Wrethagen Morast Producktion & Tecnik AB, for any future losses that might arise.

The directors expect the company to make profits in the foreseeable future.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors have had current accounts in credit throughout the period. The closing balances are disclosed in Note 10.

Interest has been accrued on these directors current accounts of £nil. Accumulated interest within accruals is £222,949 (2020 -£224,949).

13.	ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is J C Ensink

14.	DEFERRED TAXATION

There is a contingent asset for corporation tax losses of £106,887 (2020 - £99,699)

There is a contingent liability on the revaluation of investment property of £141,056 (2020 - £102,397)

These have not been provided in the accounts as there is no expectation of a corporation tax liability arising.