Redwood Estate Management Ltd Company Accounts

REDWOOD ESTATE MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09587653

Redwood Estate Management Ltd

Filleted Unaudited Financial Statements

For the year ended

31 December 2017

Redwood Estate Management Ltd

Financial Statements

Year ended 31 December 2017

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

The following pages do not form part of the financial statements

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	8

Redwood Estate Management Ltd

Officers and Professional Advisers

The board of directors	Mr M S Spann
	Mr M L Leckenby
	Mr P M Munroe

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 2017

	2017	2016
Note	£	£

Fixed assets

Tangible assets	4	2,283	1,779

Current assets

Debtors	5	18,029	4,314
Cash at bank and in hand		65,624	70,979
		--------	--------
		83,653	75,293

Creditors: amounts falling due within one year	6	75,037	74,096
		--------	--------
Net current assets		8,616	1,197
		--------	-------
Total assets less current liabilities		10,899	2,976
		--------	-------
Net assets		10,899	2,976
		--------	-------

Capital and reserves

Called up share capital	7	85	85
Profit and loss account		10,814	2,891
		--------	-------
Members funds		10,899	2,976
		--------	-------

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 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 2017 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 .

Redwood Estate Management Ltd

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 8 May 2018 , and are signed on behalf of the board by:

Mr M S Spann

Director

Company registration number: 09587653

Redwood Estate Management Ltd

Notes to the Financial Statements

Year ended 31 December 2017

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

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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

3. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2016: 4 ).

4. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2017	1,358	1,015	2,373
Additions	–	1,185	1,185
	-------	-------	-------
At 31 December 2017	1,358	2,200	3,558
	-------	-------	-------
Depreciation
At 1 January 2017	340	254	594
Charge for the year	254	427	681
	-------	-------	-------
At 31 December 2017	594	681	1,275
	-------	-------	-------
Carrying amount
At 31 December 2017	764	1,519	2,283
	-------	-------	-------
At 31 December 2016	1,018	761	1,779
	-------	-------	-------

5. Debtors

	2017	2016
	£	£
Trade debtors	18,029	3,255
Other debtors	–	1,059
	--------	-------
	18,029	4,314
	--------	-------

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	2,664	16,002
Amounts owed to group undertakings and undertakings in which the company has a participating interest	22,173	19,967
Corporation tax	10,242	9,662
Social security and other taxes	7,397	5,668
Other creditors	32,561	22,797
	--------	--------
	75,037	74,096
	--------	--------

7. Called up share capital

Issued, called up and fully paid

	2017		2016
	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	5	5	5	5
	----	----	----	----
	85	85	85	85
	----	----	----	----

8. Directors' advances, credits and guarantees

At the statement of financial position date the directors loan accounts totalled £20,759 (2016: £17,079). The directors loans are unsecured, interest free and repayable on demand.

Redwood Estate Management Ltd

Management Information

Year ended 31 December 2017

The following pages do not form part of the financial statements.

Redwood Estate Management Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Redwood Estate Management Ltd

Year ended 31 December 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Redwood Estate Management Ltd for the year ended 31 December 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Redwood Estate Management Ltd, as a body, in accordance with the terms of our engagement letter dated 25 April 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Redwood Estate Management Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Redwood Estate Management Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Redwood Estate Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Redwood Estate Management Ltd. You consider that Redwood Estate Management Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Redwood Estate Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Swandec Chartered Accountants

550 Valley Road Basford Nottingham NG5 1JJ

8 May 2018