31/12/2020
2020-12-31
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No description of principal activities is disclosed
2020-01-01
Sage Accounts Production 2020 Update 1 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
04817078
2020-01-01
2020-12-31
04817078
2020-12-31
04817078
2019-12-31
04817078
2019-01-01
2019-12-31
04817078
2019-12-31
04817078
core:LandBuildings
core:LongLeaseholdAssets
2020-01-01
2020-12-31
04817078
core:PlantMachinery
2020-01-01
2020-12-31
04817078
core:MotorVehicles
2020-01-01
2020-12-31
04817078
bus:Director3
2020-01-01
2020-12-31
04817078
bus:Director1
2020-01-01
2020-12-31
04817078
core:WithinOneYear
2020-12-31
04817078
core:WithinOneYear
2019-12-31
04817078
core:NetGoodwill
2020-12-31
04817078
core:LandBuildings
core:LongLeaseholdAssets
2019-12-31
04817078
core:PlantMachinery
2019-12-31
04817078
core:MotorVehicles
2019-12-31
04817078
core:LandBuildings
core:LongLeaseholdAssets
2020-12-31
04817078
core:PlantMachinery
2020-12-31
04817078
core:MotorVehicles
2020-12-31
04817078
core:RetainedEarningsAccumulatedLosses
2020-12-31
04817078
core:RetainedEarningsAccumulatedLosses
2019-12-31
04817078
core:NetGoodwill
2019-12-31
04817078
core:CostValuation
core:Non-currentFinancialInstruments
2019-12-31
04817078
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2020-12-31
04817078
core:CostValuation
core:Non-currentFinancialInstruments
2020-12-31
04817078
core:Non-currentFinancialInstruments
2020-12-31
04817078
core:Non-currentFinancialInstruments
2019-12-31
04817078
core:LandBuildings
core:LongLeaseholdAssets
2019-12-31
04817078
core:PlantMachinery
2019-12-31
04817078
core:MotorVehicles
2019-12-31
04817078
bus:Director1
2019-12-31
04817078
bus:Director1
2020-12-31
04817078
bus:Director1
2018-12-31
04817078
bus:Director1
2019-12-31
04817078
bus:Director1
2019-01-01
2019-12-31
04817078
bus:SmallEntities
2020-01-01
2020-12-31
04817078
bus:AuditExemptWithAccountantsReport
2020-01-01
2020-12-31
04817078
bus:FullAccounts
2020-01-01
2020-12-31
04817078
bus:SmallCompaniesRegimeForAccounts
2020-01-01
2020-12-31
04817078
bus:PrivateLimitedCompanyLtd
2020-01-01
2020-12-31
Company registration number:
04817078
Redferns Ottery St Mary Limited
Unaudited filleted financial statements
31 December 2020
REDFERNS OTTERY ST MARY LIMITED
Contents
Statement of financial position
Notes to the financial statements
REDFERNS OTTERY ST MARY LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2020
|
|
|
2020
|
|
|
|
2019
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
5
|
-
|
|
|
|
-
|
|
|
Tangible assets
|
|
6
|
37,380
|
|
|
|
42,422
|
|
|
Investments
|
|
7
|
155,925
|
|
|
|
50
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
193,305
|
|
|
|
42,472
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
8
|
231,267
|
|
|
|
54,023
|
|
|
Cash at bank and in hand
|
|
|
209,901
|
|
|
|
330,164
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
441,168
|
|
|
|
384,187
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
9
|
(
168,484)
|
|
|
|
(
69,364)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current assets
|
|
|
|
|
272,684
|
|
|
|
314,823
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
465,989
|
|
|
|
357,295
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities
|
|
|
|
|
(
6,862)
|
|
|
|
(
7,765)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net assets
|
|
|
|
|
459,127
|
|
|
|
349,530
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Profit and loss account
|
|
10
|
|
|
459,127
|
|
|
|
349,530
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders funds
|
|
|
|
|
459,127
|
|
|
|
349,530
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
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 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 August 2021
, and are signed on behalf of the board by:
Mr Lee Maddicks
Director
Company registration number:
04817078
REDFERNS OTTERY ST MARY LIMITED
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. The address of the registered office is
Redferns Ottery St Mary Limited
, 1 Broad Street, Ottery St Mary, Devon, EX11 1BR.
Principal activity
The principal activity of the company is that of estate agents.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
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:
|
|
|
|
|
|
Long leasehold property
|
-
|
20 %
|
reducing balance
|
|
Plant and machinery
|
-
|
25% (previously 15%)
|
reducing balance
|
|
Motor vehicles
|
-
|
25 %
|
reducing balance
|
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
8
(2019:
5
).
5.
Intangible assets
|
|
Goodwill
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 January 2020 and 31 December 2020
|
60,000
|
60,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 January 2020 and 31 December 2020
|
60,000
|
60,000
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 December 2020
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2019
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
Long leasehold property
|
Plant and machinery
|
Motor vehicles
|
Total
|
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 January 2020
|
2,605
|
21,108
|
45,500
|
69,213
|
|
|
|
|
Additions
|
-
|
308
|
-
|
308
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 December 2020
|
2,605
|
21,416
|
45,500
|
69,521
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 January 2020
|
2,491
|
15,313
|
8,986
|
26,790
|
|
|
|
|
Charge for the year
|
23
|
1,524
|
3,804
|
5,351
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 December 2020
|
2,514
|
16,837
|
12,790
|
32,141
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 December 2020
|
91
|
4,579
|
32,710
|
37,380
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
At 31 December 2019
|
114
|
5,795
|
36,514
|
42,423
|
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
Shares in group undertakings and participating interests
|
Total
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 January 2020
|
50
|
50
|
|
|
|
|
|
Additions
|
155,875
|
155,875
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2020
|
155,925
|
155,925
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1 January 2020 and 31 December 2020
|
-
|
-
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 December 2020
|
155,925
|
155,925
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
At 31 December 2019
|
50
|
50
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
8.
Debtors
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
19,631
|
15,274
|
|
Amounts owed by group undertakings
|
|
188,003
|
5,003
|
|
Other debtors
|
|
23,633
|
33,746
|
|
|
|
_______
|
_______
|
|
|
|
231,267
|
54,023
|
|
|
|
_______
|
_______
|
|
|
|
|
|
9.
Creditors: amounts falling due within one year
|
|
|
2020
|
2019
|
|
|
|
£
|
£
|
|
Trade creditors
|
|
41
|
556
|
|
Accruals and deferred income
|
|
7,752
|
8,734
|
|
Social security and other taxes
|
|
101,874
|
60,074
|
|
Other creditors
|
|
58,817
|
(-)
|
|
|
|
_______
|
_______
|
|
|
|
168,484
|
69,364
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Reserves
Profit and loss account: This reserve records retained earnings and accumulated losses.
11.
Directors
advances, credits and guarantees
|
During the year the directors entered into the following advances and credits with the company:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans to / (from) directors at 1 January 2020
|
Loans to / (from) the directors
|
Amounts repaid
|
Balance at 31 December 2020
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Directors
|
30,197
|
37,040
|
(
126,000)
|
(
58,763)
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans to / (from) directors at 1 January 2019
|
Loans to / (from) the directors
|
Amounts repaid
|
Balance at 31 December 2019
|
|
|
|
|
£
|
£
|
£
|
£
|
|
|
|
Directors
|
(
27,803)
|
(
70,000)
|
128,000
|
30,197
|
|
|
|
|
_______
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
Interest is charged on the loan to the director at the HMRC official rate of interest.