2023-03-012024-02-292024-02-29false11184274RED DOT 365 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RED DOT 365 LTD

Registered Number
11184274
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

RED DOT 365 LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

BENBOW, Ian Robert
GUNTER, Gareth John
WILLIAMS, Daniel Jason
WILLIAMS, John Kenneth

Registered Address

Case-Uk Suite 1
Triangle Business Centre
Pentrebach
CF48 4TQ

Registered Number

11184274 (England and Wales)
RED DOT 365 LTD
Statement of Financial Position
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,1851,770
2,1851,770
Current assets
Debtors47,97530,605
Cash at bank and on hand49,76811,095
57,74341,700
Creditors amounts falling due within one year5(48,324)(49,461)
Net current assets (liabilities)9,419(7,761)
Total assets less current liabilities11,604(5,991)
Provisions for liabilities6(415)(336)
Net assets11,189(6,327)
Capital and reserves
Called up share capital2020
Profit and loss account11,169(6,347)
Shareholders' funds11,189(6,327)
The financial statements were approved and authorised for issue by the Board of Directors on 31 May 2024, and are signed on its behalf by:
WILLIAMS, John Kenneth
Director
Registered Company No. 11184274
RED DOT 365 LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the year end date, the company has net current liabilities. Included within creditors is the amount of £37,940 owed to directors. The directors have stated that they will support the company therefore the accounts have been prepared on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year03
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 March 232,0302,030
Additions1,1001,100
At 29 February 243,1303,130
Depreciation and impairment
At 01 March 23260260
Charge for year685685
At 29 February 24945945
Net book value
At 29 February 242,1852,185
At 28 February 231,7701,770
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,50027,360
Prepayments and accrued income6,4753,245
Total7,97530,605
Short term debtors are measured at transaction price (which is usually the invoice price). less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables120-
Taxation and social security8,08110,367
Other creditors40,12339,094
Total48,32449,461
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)415336
Total415336