ACCOUNTS - Final Accounts

CASH AND CASH EQUIVALENTS

REDTREE CAPITAL LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31true2022-01-011falseReal estate investment1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08586425 2022-01-01 2022-12-31 08586425 2021-01-01 2021-12-31 08586425 2022-12-31 08586425 2021-12-31 08586425 2021-01-01 08586425 c:Director2 2022-01-01 2022-12-31 08586425 d:CurrentFinancialInstruments 2022-12-31 08586425 d:CurrentFinancialInstruments 2021-12-31 08586425 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08586425 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08586425 d:ShareCapital 2022-12-31 08586425 d:ShareCapital 2021-12-31 08586425 d:ShareCapital 2021-01-01 08586425 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08586425 d:RetainedEarningsAccumulatedLosses 2022-12-31 08586425 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 08586425 d:RetainedEarningsAccumulatedLosses 2021-12-31 08586425 d:RetainedEarningsAccumulatedLosses 2021-01-01 08586425 c:FRS102 2022-01-01 2022-12-31 08586425 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 08586425 c:FullAccounts 2022-01-01 2022-12-31 08586425 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08586425 6 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 08586425

REDTREE CAPITAL LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

REDTREE CAPITAL LTD

REGISTERED NUMBER: 08586425

BALANCE SHEET

AS AT 31 DECEMBER 2022


	2022	2021
Note	£	£

Fixed assets
Investments	4		3,684		3,684
Current assets
Debtors: amounts falling due within one year	5	18,030		18,030
Cash at bank and in hand	6	25,763		29,062
		43,793		47,092
Creditors: amounts falling due within one year	7	(40,103)		(38,376)
Net current assets			3,690		8,716

Net assets			7,374		12,400

Capital and reserves
Called up share capital	12,000	12,000
Profit and loss account	(4,626)	400
	7,374	12,400

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

E E Sasson

Director

Date: 21 December 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 1

REDTREE CAPITAL LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2022

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2021	12,000	(53,405)	(41,405)
Comprehensive income for the year
Profit for the year	-	112,562	112,562
Dividends: Equity capital	-	(58,757)	(58,757)

At 31 December 2021	12,000	400	12,400
Comprehensive income for the year
Loss for the year	-	(5,026)	(5,026)
At 31 December 2022	12,000	(4,626)	7,374

The notes on pages 3 to 6 form part of these financial statements.

Page 2

REDTREE CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

1.	GENERAL INFORMATION

The company is a private company limited by shares, and is incorporated in England and Wales. The address of its registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The company continues to be dependent on the continued financial support of the shareholders. On the basis that this support will continue to be made available, these financial statements have been prepared on going concern basis.

2.3

VALUATION OF INVESTMENTS

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.4

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.

2.5

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.

2.6

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Page 3

REDTREE CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.6

FINANCIAL INSTRUMENTS (continued)

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 4

REDTREE CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.6

FINANCIAL INSTRUMENTS (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.7

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.

2.8

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

Page 5

REDTREE CAPITAL LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

4.	FIXED ASSET INVESTMENTS

		Unlisted investments
		£
	Cost or valuation
	At 1 January 2022	3,684
	At 31 December 2022	3,684

DEBTORS


					2022	2021
					£	£


Amounts owed by group undertakings	18,030	18,030

	Cash at bank and in hand	25,763	29,062

Trade creditors	3,000	1,823
Other creditors	34,603	34,603
Accruals and deferred income	2,500	1,950
	40,103	38,376

8.	RELATED PARTY TRANSACTIONS
	At the year end, an amount of £34,603 (2021: £34,603) was owed to the shareholder. The loan is repayable on demand and no interest has been charged.

Page 6