RED VISUAL EFFECTS LTD

Company Registration Number:
12089590 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

RED VISUAL EFFECTS LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

RED VISUAL EFFECTS LTD

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 23,555 12,136
Total fixed assets: 23,555 12,136
Current assets
Debtors:   668,857 612,000
Cash at bank and in hand: 799,226 124,571
Total current assets: 1,468,083 736,571
Creditors: amounts falling due within one year: 4 (268,968) (244,528)
Net current assets (liabilities): 1,199,115 492,043
Total assets less current liabilities: 1,222,670 504,179
Total net assets (liabilities): 1,222,670 504,179
Capital and reserves
Called up share capital: 4 4
Profit and loss account: 1,222,666 504,175
Shareholders funds: 1,222,670 504,179

The notes form part of these financial statements

RED VISUAL EFFECTS LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 March 2024
and signed on behalf of the board by:

Name: Lev Kolobov
Status: Director

The notes form part of these financial statements

RED VISUAL EFFECTS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

Tangible fixed assets and depreciation policy

angible 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:Fixtures & fittings25% straight lineComputer equipment25% straight line

RED VISUAL EFFECTS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

RED VISUAL EFFECTS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible Assets

Total
Cost £
At 01 August 2022 26,333
Additions 24,001
At 31 July 2023 50,334
Depreciation
At 01 August 2022 14,197
Charge for year 12,582
At 31 July 2023 26,779
Net book value
At 31 July 2023 23,555
At 31 July 2022 12,136

RED VISUAL EFFECTS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Creditors: amounts falling due within one year note

Creditors: amounts falling due within one year 2023 2022 VAT 46,658 27,341 Taxes and social security 194,892 100,298 Proposed dividends 22,000 113,000 Loans from directors 1,810 1,472 Accruals 3,608 2,417 Totals 268,968 244,528

RED VISUAL EFFECTS LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Related party transactions

Name of the related party: Red SPV Limited
Relationship:
Common ownership
Description of the Transaction: Debtors of £600,000 relates to an interest free loan made to Red SPV Limited, Company number 13846609, a property investment company. Red SPV limited is controlled by Mr L Kolobov and Mrs I Kolobov, who are also shareholders and directors of Red Visual Effects Ltd.
£
Balance at 01 August 2022 600,000
Balance at 31 July 2023 600,000