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Company Registration No. 06632266 (England and Wales)
Red Survey Limited Unaudited accounts for the year ended 31 May 2023
Red Survey Limited Unaudited accounts Contents
Page
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Red Survey Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
432,718 
498,704 
Current assets
Inventories
320,042 
290,572 
Debtors
237,533 
379,947 
Cash at bank and in hand
44,037 
43,185 
601,612 
713,704 
Creditors: amounts falling due within one year
(369,528)
(544,283)
Net current assets
232,084 
169,421 
Total assets less current liabilities
664,802 
668,125 
Creditors: amounts falling due after more than one year
(190,655)
(256,238)
Provisions for liabilities
Deferred tax
(101,309)
(119,983)
Net assets
372,838 
291,904 
Capital and reserves
Called up share capital
48 
48 
Share premium
4,992 
4,992 
Profit and loss account
367,798 
286,864 
Shareholders' funds
372,838 
291,904 
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 9 January 2024 and were signed on its behalf by
R K Flood Director Company Registration No. 06632266
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Red Survey Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Red Survey Limited is a private company, limited by shares, registered in England and Wales, registration number 06632266. The registered office is Park Street, Castle Cary , Somerset, BA7 7EJ.
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 is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them
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:
Land & buildings
10% straight line
Plant & machinery
25% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Red Survey Limited Notes to the Accounts for the year ended 31 May 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 June 2022
19,264 
224,775 
371,528 
24,160 
639,727 
Additions
- 
9,218 
229,324 
- 
238,542 
Disposals
- 
(4,980)
(268,768)
- 
(273,748)
At 31 May 2023
19,264 
229,013 
332,084 
24,160 
604,521 
Depreciation
At 1 June 2022
5,137 
40,057 
80,330 
15,499 
141,023 
Charge for the year
1,926 
24,477 
50,614 
6,040 
83,057 
On disposals
- 
(4,980)
(47,297)
- 
(52,277)
At 31 May 2023
7,063 
59,554 
83,647 
21,539 
171,803 
Net book value
At 31 May 2023
12,201 
169,459 
248,437 
2,621 
432,718 
At 31 May 2022
14,127 
184,718 
291,198 
8,661 
498,704 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
158,537 
178,454 
- Motor vehicles
233,483 
285,631 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
237,033 
362,297 
Accrued income and prepayments
500 
500 
Other debtors
- 
17,150 
237,533 
379,947 
- 5 -
Red Survey Limited Notes to the Accounts for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
18,182 
18,182 
VAT
36,286 
42,463 
Obligations under finance leases and hire purchase contracts
96,357 
123,798 
Trade creditors
137,295 
148,997 
Taxes and social security
59,654 
10,486 
Other creditors
2,736 
180,223 
Loans from directors
8,606 
10,751 
Accruals
10,412 
9,383 
369,528 
544,283 
The bank loan is secured by an unlimited debenture over the company's assets. The finance leases and hire purchase contracts are secured on the assets concerned.
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
36,363 
54,545 
Obligations under finance leases and hire purchase contracts
154,292 
201,693 
190,655 
256,238 
The bank loan is secured by an unlimited debenture over the company's assets. The finance leases and hire purchase contracts are secured on the assets concerned.
8
Capital commitments
2023 
2022 
£ 
£ 
Amounts contracted but not provided for in the accounts
- 
65,483 
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).
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