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REGISTERED NUMBER: 10609672 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Red 05 Ltd

Red 05 Ltd (Registered number: 10609672)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red 05 Ltd

Company Information
for the Year Ended 31 December 2022







DIRECTOR: G Curl





SECRETARY:





REGISTERED OFFICE: 40 High Street
Newhaven
East Sussex
BN9 9PD





REGISTERED NUMBER: 10609672 (England and Wales)





ACCOUNTANTS: Stone's Accountancy Sussex Limited
398 Coast Road
Pevensey Bay
Pevensey
East Sussex
BN24 6NY

Red 05 Ltd (Registered number: 10609672)

Balance Sheet
31 December 2022

31/12/22 31/12/21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,812 21,015

CURRENT ASSETS
Debtors 5 47,907 51,847
Cash at bank and in hand 83,397 15,957
131,304 67,804
CREDITORS
Amounts falling due within one year 6 72,335 27,495
NET CURRENT ASSETS 58,969 40,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

75,781

61,324

CREDITORS
Amounts falling due after more than
one year

7

(57,153

)

(63,267

)

PROVISIONS FOR LIABILITIES (1,353 ) (1,690 )
NET ASSETS/(LIABILITIES) 17,275 (3,633 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 17,175 (3,733 )
SHAREHOLDERS' FUNDS 17,275 (3,633 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 05 Ltd (Registered number: 10609672)

Balance Sheet - continued
31 December 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 director and authorised for issue on 30 September 2023 and were signed by:




G Curl - Director



M J Archer - Director


Red 05 Ltd (Registered number: 10609672)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Red 05 Ltd 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.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

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.

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.

Red 05 Ltd (Registered number: 10609672)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 4 ).

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022
and 31 December
2022

2,253

1,111

25,347

12,010

40,721
DEPRECIATION
At 1 January 2022 1,528 548 10,587 7,043 19,706
Charge for year 145 113 2,952 993 4,203
At 31 December 2022 1,673 661 13,539 8,036 23,909
NET BOOK VALUE
At 31 December 2022 580 450 11,808 3,974 16,812
At 31 December 2021 725 563 14,760 4,967 21,015

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Trade debtors 47,907 51,847

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/22 31/12/21
£    £   
Bank loans and overdrafts - 445
Trade creditors 6,255 2,388
Social security and other taxes (3,908 ) 983
VAT 35,103 7,605
Directors' loan accounts 34,027 15,099
Accrued expenses 858 975
72,335 27,495

Red 05 Ltd (Registered number: 10609672)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/12/22 31/12/21
£    £   
Bank loans - 2-5 years 35,789 45,566
Other loans - 1-2 years 21,364 17,701
57,153 63,267

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the loan accounts on the accounts is from the directors for cash flow injection. The loans are repayable on demand and therefore no interest has been charged.