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REGISTERED NUMBER: SC217900 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

RED BOX MANUFACTURING LTD.

RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED BOX MANUFACTURING LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: A Wilson
G Lachlan





SECRETARY: G Lachlan





REGISTERED OFFICE: 11 Unthank Road
Mossend
Bellshill
ML4 1DD





REGISTERED NUMBER: SC217900 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 117,734 95,379

CURRENT ASSETS
Stocks 99,930 52,397
Debtors 5 153,125 119,717
Cash at bank and in hand 286,565 196,078
539,620 368,192
CREDITORS
Amounts falling due within one year 6 440,184 253,110
NET CURRENT ASSETS 99,436 115,082
TOTAL ASSETS LESS CURRENT
LIABILITIES

217,170

210,461

CREDITORS
Amounts falling due after more than one
year

7

(22,336

)

(31,752

)

PROVISIONS FOR LIABILITIES (15,647 ) (7,614 )
NET ASSETS 179,187 171,095

CAPITAL AND RESERVES
Called up share capital 150 150
Capital redemption reserve 50 50
Fair value reserve 8 53,362 27,362
Retained earnings 125,625 143,533
SHAREHOLDERS' FUNDS 179,187 171,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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 BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

BALANCE SHEET - continued
31 MAY 2023


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 8 November 2023 and were signed on its behalf by:




A Wilson - Director



G Lachlan - Director


RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Red Box Manufacturing Ltd. is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are completed. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant & machinery - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Cash
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.


RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant & Fixtures
property machinery & fittings
£    £    £   
COST OR VALUATION
At 1 June 2022 80,000 4,770 8,960
Revaluations 26,000 - -
At 31 May 2023 106,000 4,770 8,960
DEPRECIATION
At 1 June 2022 - 4,471 7,266
Charge for year - 44 254
At 31 May 2023 - 4,515 7,520
NET BOOK VALUE
At 31 May 2023 106,000 255 1,440
At 31 May 2022 80,000 299 1,694

RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 June 2022 20,531 7,580 121,841
Revaluations - - 26,000
At 31 May 2023 20,531 7,580 147,841
DEPRECIATION
At 1 June 2022 7,145 7,580 26,462
Charge for year 3,347 - 3,645
At 31 May 2023 10,492 7,580 30,107
NET BOOK VALUE
At 31 May 2023 10,039 - 117,734
At 31 May 2022 13,386 - 95,379

Cost or valuation at 31 May 2023 is represented by:

Freehold Plant & Fixtures
property machinery & fittings
£    £    £   
Valuation in 2007 27,362 - -
Valuation in 2023 26,000 - -
Cost 52,638 4,770 8,960
106,000 4,770 8,960

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2007 - - 27,362
Valuation in 2023 - - 26,000
Cost 20,531 7,580 94,479
20,531 7,580 147,841

Investment property was valued on an open market basis on 31 May 2023 by the director's.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 149,413 116,369
Other debtors 3,712 3,348
153,125 119,717

RED BOX MANUFACTURING LTD. (REGISTERED NUMBER: SC217900)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 9,685 9,954
Trade creditors 307,430 144,878
Taxation and social security 101,914 83,303
Other creditors 21,155 14,975
440,184 253,110

The company's bankers hold security over the investment property included within the financial statements.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 22,336 31,752

8. RESERVES
Fair
value
reserve
£   
At 1 June 2022 27,362
Property valuation movement 26,000

At 31 May 2023 53,362

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2023 and the period ended 31 May 2022:

31.5.23 31.5.22
£    £   
G Lachlan and A Wilson
Balance outstanding at start of year 1,625 1,884
Amounts advanced 890 28,868
Amounts repaid (912 ) (29,127 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,603 1,625

Directors loans are given interest free and repayable on demand.