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REGISTERED NUMBER: SC258294 (Scotland)












Financial Statements

for the Year Ended 31 December 2023

for

Red Mosquito Limited

Red Mosquito Limited (Registered number: SC258294)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Mosquito Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N A Rowney
D J Smith
A H Stark





REGISTERED OFFICE: 21 Panorama Business Village
Blairtummock Place
Glasgow
G33 4EN





REGISTERED NUMBER: SC258294 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Red Mosquito Limited (Registered number: SC258294)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,372 35,545

CURRENT ASSETS
Debtors 5 324,015 231,656
Cash at bank and in hand 436,403 376,482
760,418 608,138
CREDITORS
Amounts falling due within one year 6 380,270 330,394
NET CURRENT ASSETS 380,148 277,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

406,520

313,289

PROVISIONS FOR LIABILITIES 7,132 8,119
NET ASSETS 399,388 305,170

CAPITAL AND RESERVES
Called up share capital 2,850 2,850
Capital redemption reserve 150 150
Retained earnings 396,388 302,170
SHAREHOLDERS' FUNDS 399,388 305,170

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Mosquito Limited (Registered number: SC258294)

Balance Sheet - continued
31 December 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 31 July 2024 and were signed on its behalf by:





N A Rowney - Director


Red Mosquito Limited (Registered number: SC258294)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Red Mosquito Limited 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work
done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.

Red Mosquito Limited (Registered number: SC258294)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 13,081 98,656 111,737
Additions 387 2,980 3,367
Disposals (465 ) (43,898 ) (44,363 )
At 31 December 2023 13,003 57,738 70,741
DEPRECIATION
At 1 January 2023 10,452 65,740 76,192
Charge for year 733 7,698 8,431
Eliminated on disposal (445 ) (39,809 ) (40,254 )
At 31 December 2023 10,740 33,629 44,369
NET BOOK VALUE
At 31 December 2023 2,263 24,109 26,372
At 31 December 2022 2,629 32,916 35,545

Red Mosquito Limited (Registered number: SC258294)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 309,975 223,544
Other debtors 14,040 8,112
324,015 231,656

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,073 482
Trade creditors 70,778 4,247
Taxation and social security 169,157 191,062
Other creditors 139,262 134,603
380,270 330,394