Company registration number 09646893 (England and Wales)
REDESDALE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
PAGES FOR FILING WITH REGISTRAR
REDESDALE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
REDESDALE HOLDINGS LIMITED
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
2,268,149
2,268,149
Current assets
Debtors
4
2,192,348
2,190,320
Cash at bank and in hand
8,193
3,457
2,200,541
2,193,777
Creditors: amounts falling due within one year
5
(4,573,753)
(2,005,731)
Net current (liabilities)/assets
(2,373,212)
188,046
Total assets less current liabilities
(105,063)
2,456,195
Creditors: amounts falling due after more than one year
6
(2,856,727)
Net liabilities
(105,063)
(400,532)
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
(105,263)
(400,732)
Total equity
(105,063)
(400,532)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 July 2023 and are signed on its behalf by:
B Bradley
Director
Company Registration No. 09646893
REDESDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022
- 2 -
1
Accounting policies
Company information
Redesdale Holdings Limited (company registered number: 09646893) is a private company limited by shares incorporated in England and Wales. The registered office is Kings Arms Hotel, 30 High Street, Amersham, Buckinghamshire, HP7 0DJ.
1.1
Accounting convention
These financial statements have been prepared under the historical cost convention and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
The following accounting policies have been applied.
1.2
Going concern
Atruet the time of approving the financial statements, despite the net liabilities, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, through the support of its shareholders. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash at bank and in hand
Cash at bank and in hand are basic financial assets.
1.5
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors, bank balances and amounts due from group undertakings, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including other creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
REDESDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Fixed asset investments
2022
2021
£
£
Shares in group undertakings and participating interests
2,268,149
2,268,149
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,192,148
2,190,120
Other debtors
200
200
2,192,348
2,190,320
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
2,862,460
77,826
Other creditors
1,704,782
1,923,190
Accruals
6,511
4,715
4,573,753
2,005,731
The loans are secured by fixed and floating charges over the companys assets.
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
2,856,727
REDESDALE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2022
6
Creditors: amounts falling due after more than one year
(Continued)
- 4 -
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
-
1,868,461
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of 1p each
20,000
20,000
200
200