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Company Registration No. 11524129 (England and Wales)
RED KITE LEASING LIMITED Unaudited accounts for the year ended 31 May 2023
RED KITE LEASING LIMITED Unaudited accounts Contents
Page
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RED KITE LEASING LIMITED Company Information for the year ended 31 May 2023
Directors
Ben Fleetwood Rebecca Fleetwood
Company Number
11524129 (England and Wales)
Registered Office
73 NEWLAND WITNEY OXFORDSHIRE OX28 3JW UNITED KINGDOM
Accountants
AC Counts & Services Ltd Office 42 Imex Business Centre, Oxleasow Road Redditch Worcestershire B98 0RE
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RED KITE LEASING LIMITED Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
581 
342 
Current assets
Debtors
3,577 
1,223 
Cash at bank and in hand
(2,416)
1,794 
1,161 
3,017 
Creditors: amounts falling due within one year
(28,345)
(26,489)
Net current liabilities
(27,184)
(23,472)
Total assets less current liabilities
(26,603)
(23,130)
Creditors: amounts falling due after more than one year
(1,621)
(2,097)
Net liabilities
(28,224)
(25,227)
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
(28,234)
(25,237)
Shareholders' funds
(28,224)
(25,227)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by
Ben Fleetwood Director Company Registration No. 11524129
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RED KITE LEASING LIMITED Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
RED KITE LEASING LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11524129. The registered office is 73 NEWLAND, WITNEY, OXFORDSHIRE, OX28 3JW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line Method
Going Concern
The financial statements have been prepared on a going concern basis. This assumes the continued support of the directors. The directors have indicated their support will continue for the foreseeable future.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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RED KITE LEASING LIMITED Notes to the Accounts for the year ended 31 May 2023
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 June 2022
1,365 
Additions
774 
At 31 May 2023
2,139 
Depreciation
At 1 June 2022
1,023 
Charge for the year
535 
At 31 May 2023
1,558 
Net book value
At 31 May 2023
581 
At 31 May 2022
342 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
10 
10 
Amounts falling due after more than one year
Trade debtors
3,067 
713 
Accrued income and prepayments
500 
500 
3,567 
1,213 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,504 
965 
Trade creditors
34 
- 
Taxes and social security
2,000 
- 
Loans from directors
23,294 
24,024 
Accruals
1,513 
1,500 
28,345 
26,489 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
1,621 
2,097 
8
Transactions with related parties
At the year end there was a balance of £25295.03 (2022 £24023.78) owed to directors, Ben Fleetwood & Rebecca Fleetwood.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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