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REGISTERED NUMBER: 06660483 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Red 2 Black Recoveries Limited

Red 2 Black Recoveries Limited (Registered number: 06660483)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Red 2 Black Recoveries Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Miss J Wright
C A Burgess
Ms H A Hiley
S A Smith
D B Singh Gakhal
C K Jenkins





SECRETARY: K Wright





REGISTERED OFFICE: Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES





REGISTERED NUMBER: 06660483 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Red 2 Black Recoveries Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red 2 Black Recoveries Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Red 2 Black Recoveries Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red 2 Black Recoveries Limited and state those matters that we have agreed to state to the Board of Directors of Red 2 Black Recoveries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red 2 Black Recoveries Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Red 2 Black Recoveries Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red 2 Black Recoveries Limited. You consider that Red 2 Black Recoveries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Red 2 Black Recoveries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Chancery Court
34 West Street
Retford
Nottinghamshire
DN22 6ES


8 October 2024

Red 2 Black Recoveries Limited (Registered number: 06660483)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 9,750 19,500
Tangible assets 5 203,390 202,082
213,140 221,582

CURRENT ASSETS
Debtors 6 409,064 372,361
Cash at bank 129,662 32,881
538,726 405,242
CREDITORS
Amounts falling due within one year 7 395,649 298,061
NET CURRENT ASSETS 143,077 107,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

356,217

328,763

CREDITORS
Amounts falling due after more than one
year

8

(211,386

)

(219,961

)

PROVISIONS FOR LIABILITIES (47,404 ) (35,612 )
NET ASSETS 97,427 73,190

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 97,327 73,090
SHAREHOLDERS' FUNDS 97,427 73,190

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 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.

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 October 2024 and were signed on its behalf by:




Miss J Wright - Director


Red 2 Black Recoveries Limited (Registered number: 06660483)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Red 2 Black Recoveries Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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 2 Black Recoveries Limited (Registered number: 06660483)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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 24 (2023 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 150,000
AMORTISATION
At 1 September 2023 130,500
Charge for year 9,750
At 31 August 2024 140,250
NET BOOK VALUE
At 31 August 2024 9,750
At 31 August 2023 19,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 22,676 566,270 588,946
Additions - 72,278 72,278
Disposals (2,889 ) (215,233 ) (218,122 )
At 31 August 2024 19,787 423,315 443,102
DEPRECIATION
At 1 September 2023 9,030 377,834 386,864
Charge for year 2,023 61,582 63,605
Eliminated on disposal (1,241 ) (209,516 ) (210,757 )
At 31 August 2024 9,812 229,900 239,712
NET BOOK VALUE
At 31 August 2024 9,975 193,415 203,390
At 31 August 2023 13,646 188,436 202,082

At the year, the net book value of assets under hire purchase was £161,244 (2023: £180,969).

Red 2 Black Recoveries Limited (Registered number: 06660483)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 210,562 200,495
Other debtors 198,502 171,866
409,064 372,361

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 134,552 42,309
Hire purchase contracts 48,079 52,409
Trade creditors 34,957 36,706
Taxation and social security 99,383 97,155
Other creditors 78,678 69,482
395,649 298,061

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 16,706 36,719
Hire purchase contracts 83,180 58,242
Other creditors 111,500 125,000
211,386 219,961

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
55 Ordinary A £1 55 55
45 Ordinary B £1 45 45
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year directors advances have been provided and as at 31 August 2024, £20,252 (2023: £61,380) was due back to the company. Interest is being charged at 2.25% per annum.

11. RELATED PARTY DISCLOSURES

Orangeaid Limited

A company in which C Burgess is a director and the ultimate controlling party. At the year end, £111,500 (2023: £125,000) was due to Orangeaid Limited. This balance is included within other creditors due after more than one year.