ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrueNo description of principal activityfalse2016-04-01 01647872 2016-04-01 2017-03-31 01647872 2015-04-01 2016-03-31 01647872 2017-03-31 01647872 2016-03-31 01647872 c:Director1 2016-04-01 2017-03-31 01647872 c:Director3 2016-04-01 2017-03-31 01647872 d:Buildings 2016-04-01 2017-03-31 01647872 d:Buildings 2017-03-31 01647872 d:Buildings 2016-03-31 01647872 d:Buildings d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01647872 d:FurnitureFittings 2016-04-01 2017-03-31 01647872 d:OtherPropertyPlantEquipment 2016-04-01 2017-03-31 01647872 d:OtherPropertyPlantEquipment 2017-03-31 01647872 d:OtherPropertyPlantEquipment 2016-03-31 01647872 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01647872 d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 01647872 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2017-03-31 01647872 d:Non-currentFinancialInstruments d:UnlistedNon-exchangeTraded 2016-03-31 01647872 d:CurrentFinancialInstruments 2017-03-31 01647872 d:CurrentFinancialInstruments 2016-03-31 01647872 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 01647872 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 01647872 d:ShareCapital 2017-03-31 01647872 d:ShareCapital 2016-03-31 01647872 d:CapitalRedemptionReserve 2017-03-31 01647872 d:CapitalRedemptionReserve 2016-03-31 01647872 d:RevaluationReserve 2017-03-31 01647872 d:RevaluationReserve 2016-03-31 01647872 d:RetainedEarningsAccumulatedLosses 2017-03-31 01647872 d:RetainedEarningsAccumulatedLosses 2016-03-31 01647872 c:FRS102 2016-04-01 2017-03-31 01647872 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 01647872 c:FullAccounts 2016-04-01 2017-03-31 01647872 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number: 01647872

REDORANGE LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

REDORANGE LIMITED

REGISTERED NUMBER: 01647872

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

FIXED ASSETS
Tangible assets	4		109,690		110,688
Investments	5		16,700		16,700
			126,390		127,388
CURRENT ASSETS
Stocks	6	-		200
Debtors: amounts falling due within one year	7	472,507		437,823
Cash at bank and in hand	8	15,601		4,917
		488,108		442,940
Creditors: amounts falling due within one year	9	(477,034)		(429,850)
NET CURRENT ASSETS			11,074		13,090
TOTAL ASSETS LESS CURRENT LIABILITIES			137,464		140,478
PROVISIONS FOR LIABILITIES
Deferred tax		(13,611)		(14,514)
			(13,611)		(14,514)
NET ASSETS			123,853		125,964

CAPITAL AND RESERVES
Called up share capital	4,767	4,767
Revaluation reserve	72,831	72,849
Capital redemption reserve	10,736	10,736
Profit and loss account	35,519	37,612
	123,853	125,964

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 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.

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REDORANGE LIMITED

REGISTERED NUMBER: 01647872

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2017

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 on 14 November 2017.

C C Futter	N I Dowdney
Director	Director

The notes on pages 3 to 9 form part of these financial statements.

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	GENERAL INFORMATION

Redorange Limited is a private company, limited by shares, domiciled in England & Wales, registration number 01647872. The registered office is 20 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk NR7 0HR.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Freehold buildings	-	2%	straight line
				Fixtures & fittings	-	25%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.ACCOUNTING POLICIES (CONTINUED)

2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance Sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in the Profit and Loss Account unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.5

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.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

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. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.ACCOUNTING POLICIES (CONTINUED)

2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Profit and Loss Account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES
	Staff costs, including directors' remuneration, were as follows:

The average monthly number of employees, including directors, during the year was 4 (2016 - 4).

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

4.	TANGIBLE FIXED ASSETS

	Land and buildings	Other fixed assets	Total
	£	£	£
COST OR VALUATION
At 1 April 2016	110,000	3,202	113,202
Additions	-	551	551
At 31 March 2017	110,000	3,753	113,753
DEPRECIATION
At 1 April 2016	-	2,514	2,514
Charge for the year on owned assets	1,320	229	1,549
At 31 March 2017	1,320	2,743	4,063
NET BOOK VALUE
At 31 March 2017	108,680	1,010	109,690
At 31 March 2016	110,000	688	110,688

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

4.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of land and buildings may be further analysed as follows:
	2017	2016
	£	£

	Freehold	108,680	110,000

Cost or valuation at 31 March 2017 is as follows:

			Land and buildings
			£

		At cost	28,065
		At valuation:
		31 March 2016 on an open market basis by the directors	81,935

			110,000

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
	2017	2016
	£	£


Cost	28,065	28,065
Accumulated depreciation	(5,468)	(5,110)
NET BOOK VALUE	22,597	22,955

5.	FIXED ASSET INVESTMENTS

		Unlisted investments
		£
	COST OR VALUATION
	At 1 April 2016	16,700
	At 31 March 2017	16,700

	NET BOOK VALUE
	At 31 March 2017	16,700
	At 31 March 2016	16,700

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

6.	STOCKS
		2017	2016
		£	£

	Raw materials and consumables	-	200

DEBTORS

					2017	2016
					£	£


Trade debtors	465,526	425,770
Other debtors	1,950	2,252
Prepayments and accrued income	5,031	9,801
	472,507	437,823

8.	CASH AND CASH EQUIVALENTS
		2017	2016
		£	£

	Cash at bank and in hand	15,601	4,917

9.	CREDITORS: Amounts falling due within one year
		2017	2016
		£	£

Trade creditors	441,700	404,311
Corporation tax	12,324	7,903
Other taxation and social security	5,239	3,292
Other creditors	4,000	-
Accruals and deferred income	13,771	14,344
	477,034	429,850

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REDORANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

10.	DEFERRED TAXATION

		2017
		£

	At beginning of year	(14,514)
	Charged to profit or loss	903
	AT END OF YEAR	(13,611)

	The provision for deferred taxation is made up as follows:
					2017
					£

	Accelerated capital allowances	(359)
	Potential capital gain on freehold property	(13,252)
		(13,611)

11.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £69 (2016 - £20). Contributions totalling £nil (2016 - £nil) were payable to the fund at the balance sheet date

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