Redwood Estate Management Ltd Filleted accounts for Companies House (small and micro)

REDWOOD ESTATE MANAGEMENT LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2020-01-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 09587653 2020-01-01 2020-12-31 09587653 2020-12-31 09587653 2019-12-31 09587653 2019-01-01 2019-12-31 09587653 2019-12-31 09587653 core:FurnitureFittings 2020-01-01 2020-12-31 09587653 bus:RegisteredOffice 2020-01-01 2020-12-31 09587653 bus:OrdinaryShareClass1 2020-01-01 2020-12-31 09587653 bus:OrdinaryShareClass2 2020-01-01 2020-12-31 09587653 bus:OrdinaryShareClass3 2020-01-01 2020-12-31 09587653 bus:LeadAgentIfApplicable 2020-01-01 2020-12-31 09587653 bus:Director1 2020-01-01 2020-12-31 09587653 bus:Director2 2020-01-01 2020-12-31 09587653 core:FurnitureFittings 2019-12-31 09587653 core:FurnitureFittings 2020-12-31 09587653 core:WithinOneYear 2020-12-31 09587653 core:WithinOneYear 2019-12-31 09587653 core:ShareCapital 2020-12-31 09587653 core:ShareCapital 2019-12-31 09587653 core:RetainedEarningsAccumulatedLosses 2020-12-31 09587653 core:RetainedEarningsAccumulatedLosses 2019-12-31 09587653 core:FurnitureFittings 2019-12-31 09587653 bus:SmallEntities 2020-01-01 2020-12-31 09587653 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 09587653 bus:FullAccounts 2020-01-01 2020-12-31 09587653 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 09587653 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31 09587653 bus:OrdinaryShareClass1 2020-12-31 09587653 bus:OrdinaryShareClass1 2019-12-31 09587653 bus:OrdinaryShareClass2 2020-12-31 09587653 bus:OrdinaryShareClass2 2019-12-31 09587653 bus:OrdinaryShareClass3 2020-12-31 09587653 bus:OrdinaryShareClass3 2019-12-31 09587653 bus:AllOrdinaryShares 2020-12-31 09587653 bus:AllOrdinaryShares 2019-12-31 09587653 core:ComputerEquipment 2020-01-01 2020-12-31 09587653 core:ComputerEquipment 2019-12-31 09587653 core:ComputerEquipment 2020-12-31

COMPANY REGISTRATION NUMBER: 09587653

Redwood Estate Management Ltd

Filleted Unaudited Financial Statements

For the year ended

31 December 2020

Redwood Estate Management Ltd

Financial Statements

Year ended 31 December 2020

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Redwood Estate Management Ltd

Officers and Professional Advisers

The board of directors	Mr M G Spann
	Mr M L Leckenby

Registered office	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Redwood Estate Management Ltd

Statement of Financial Position

31 December 2020

	2020	2019
Note	£	£

Fixed assets

Tangible assets	4	3,431	3,578

Current assets

Debtors	5	–	4,780
Cash at bank and in hand		36,518	62,593
		--------	--------
		36,518	67,373

Creditors: amounts falling due within one year	6	90,600	99,053
		--------	--------
Net current liabilities		54,082	31,680
		--------	--------
Total assets less current liabilities		( 50,651)	( 28,102)
		--------	--------
Net liabilities		( 50,651)	( 28,102)
		--------	--------

Capital and reserves

Called up share capital	7	90	90
Profit and loss account		( 50,741)	( 28,192)
		--------	--------
Shareholders deficit		( 50,651)	( 28,102)
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 September 2021 , and are signed on behalf of the board by:

Mr M G Spann

Director

Company registration number: 09587653

Redwood Estate Management Ltd

Notes to the Financial Statements

Year ended 31 December 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 550 Valley Road, Basford, Nottingham, NG5 1JJ.

2. Accounting policies

Basis of preparation

At 31st December 2019 the company had net liabilities of £28,102. The company is reliant on the continued support of the director. The director has confirmed his intention to support the company for at least 12 months from the date of signing the accounts. On the above basis, the director considers that the accounts should be prepared on a going concern basis.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2019: 4 ).

4. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2020	1,528	5,820	7,348
Additions	–	1,223	1,223
	-------	-------	-------
At 31 December 2020	1,528	7,043	8,571
	-------	-------	-------
Depreciation
At 1 January 2020	1,003	2,767	3,770
Charge for the year	131	1,239	1,370
	-------	-------	-------
At 31 December 2020	1,134	4,006	5,140
	-------	-------	-------
Carrying amount
At 31 December 2020	394	3,037	3,431
	-------	-------	-------
At 31 December 2019	525	3,053	3,578
	-------	-------	-------

5. Debtors

	2020	2019
	£	£
Trade debtors	–	4,780
	----	-------

6. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	192	3,110
Amounts owed to group undertakings and undertakings in which the company has a participating interest	21,100	21,206
Social security and other taxes	7,734	12,395
Other creditors	61,574	62,342
	--------	--------
	90,600	99,053
	--------	--------

7. Called up share capital

Issued, called up and fully paid

	2020		2019
	No.	£	No.	£
Ordinary A shares of £ 1 each	40	40	40	40
Ordinary B shares of £ 1 each	40	40	40	40
Ordinary C shares of £ 1 each	10	10	10	10
	----	----	----	----
	90	90	90	90
	----	----	----	----

8. Directors' advances, credits and guarantees

At the statement of financial position date the balance owing to the directors totalled £56,340 (2019: £50,540). The directors loans are unsecured, interest free and repayable on demand.