Company Registration No. 04524832 (England and Wales)
Redd Europe Limited
Unaudited accounts
for the year ended 31 March 2022
Redd Europe Limited
Unaudited accounts
Contents
Redd Europe Limited
Statement of financial position
as at 31 March 2022
Tangible assets
59,416
91,531
Cash at bank and in hand
184,044
132,924
Creditors: amounts falling due within one year
(286,537)
(180,112)
Net current assets
101,605
51,531
Total assets less current liabilities
161,021
143,062
Creditors: amounts falling due after more than one year
(38,453)
(79,373)
Provisions for liabilities
Called up share capital
1,000
1,000
Profit and loss account
121,568
61,925
Shareholders' funds
122,568
62,925
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2022 and were signed on its behalf by
Karl J Turnbull
Director
Company Registration No. 04524832
Redd Europe Limited
Notes to the Accounts
for the year ended 31 March 2022
Redd Europe Limited is a private company, limited by shares, registered in England and Wales, registration number 04524832. The registered office is John O'Gaunt House, Station Road, John O'Gaunt, Melton Mowbray, Leicestershire, LE14 2RE.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% straight line
Plant & machinery
10% straight line
Motor vehicles
25% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Redd Europe Limited
Notes to the Accounts
for the year ended 31 March 2022
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
373,771
12,703
61,264
447,738
At 31 March 2022
373,771
12,703
61,264
447,738
At 1 April 2021
287,991
8,776
59,440
356,207
Charge for the year
27,237
3,055
1,823
32,115
At 31 March 2022
315,228
11,831
61,263
388,322
At 31 March 2022
58,543
872
1
59,416
At 31 March 2021
85,780
3,927
1,824
91,531
Amounts falling due within one year
Trade debtors
107,510
7,645
Other debtors
96,588
91,074
Redd Europe Limited
Notes to the Accounts
for the year ended 31 March 2022
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
39,382
36,573
Taxes and social security
58,167
16,293
Other creditors
188,988
127,480
Bank loans are secured by a charge on company's assets.
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Creditors: amounts falling due after more than one year
2022
2021
Bank loans are secured by a charge on company's assets.
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Average number of employees
During the year the average number of employees was 2 (2021: 2).
