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REGISTERED NUMBER: 05734823 (England and Wales)















RED MATERIALS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022






RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED MATERIALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTORS: D J Howson
R J Barker
Mrs C Howson





SECRETARY: D J Howson





REGISTERED OFFICE: Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL





REGISTERED NUMBER: 05734823 (England and Wales)





ACCOUNTANTS: Sephton & Company LLP
Chartered Certified Accountants
Marston House
5 Elmdon Lane
Marston Green
Solihull
West Midlands
B37 7DL

RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

BALANCE SHEET
30 APRIL 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 445,804 280,577

CURRENT ASSETS
Debtors 5 667,134 1,095,188
Cash at bank and in hand 1,432,243 1,253,814
2,099,377 2,349,002
CREDITORS
Amounts falling due within one year 6 612,462 715,505
NET CURRENT ASSETS 1,486,915 1,633,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,932,719

1,914,074

CREDITORS
Amounts falling due after more than one
year

7

(153,419

)

(70,316

)

PROVISIONS FOR LIABILITIES (68,336 ) (27,867 )
NET ASSETS 1,710,964 1,815,891

CAPITAL AND RESERVES
Called up share capital 66 66
Capital redemption reserve 34 34
Retained earnings 1,710,864 1,815,791
SHAREHOLDERS' FUNDS 1,710,964 1,815,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

BALANCE SHEET - continued
30 APRIL 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2022 and were signed on its behalf by:




D J Howson - Director



R J Barker - Director


RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022


1. STATUTORY INFORMATION

Red Materials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost and 12.5% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2021 - 19 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2021 228,268 2,679 491,728 13,192 735,867
Additions 144,000 - 149,085 2,207 295,292
Disposals (3,545 ) - (175,974 ) (2,888 ) (182,407 )
At 30 April 2022 368,723 2,679 464,839 12,511 848,752
DEPRECIATION
At 1 May 2021 219,869 2,679 220,510 12,232 455,290
Charge for year 16,453 - 81,028 1,323 98,804
Eliminated on disposal (3,545 ) - (144,713 ) (2,888 ) (151,146 )
At 30 April 2022 232,777 2,679 156,825 10,667 402,948
NET BOOK VALUE
At 30 April 2022 135,946 - 308,014 1,844 445,804
At 30 April 2021 8,399 - 271,218 960 280,577

RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2021 - 329,845 329,845
Additions 144,000 126,595 270,595
Disposals - (58,584 ) (58,584 )
At 30 April 2022 144,000 397,856 541,856
DEPRECIATION
At 1 May 2021 - 96,981 96,981
Charge for year 13,500 68,393 81,893
Eliminated on disposal - (36,125 ) (36,125 )
At 30 April 2022 13,500 129,249 142,749
NET BOOK VALUE
At 30 April 2022 130,500 268,607 399,107
At 30 April 2021 - 232,864 232,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 562,307 1,056,364
Other debtors 104,827 38,824
667,134 1,095,188

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Hire purchase contracts (see note 8) 140,881 74,772
Trade creditors 420,484 179,993
Taxation and social security 30,856 275,954
Other creditors 20,241 184,786
612,462 715,505

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Hire purchase contracts (see note 8) 153,419 70,316

RED MATERIALS LIMITED (REGISTERED NUMBER: 05734823)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 140,881 74,772
Between one and five years 153,419 70,316
294,300 145,088

Non-cancellable operating leases
2022 2021
£    £   
Within one year 5,739 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 294,300 145,088