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REGISTERED NUMBER: 04360542 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

RED 10 LIMITED

RED 10 LIMITED (REGISTERED NUMBER: 04360542)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED 10 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr S A Mckenzie





REGISTERED OFFICE: Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS





REGISTERED NUMBER: 04360542 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Chartered Accountants
Murrills House
48 East Street
Portchester
Fareham
Hampshire
PO16 9XS

RED 10 LIMITED (REGISTERED NUMBER: 04360542)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,520 3,948
Investments 6 1 1
2,521 3,949

CURRENT ASSETS
Debtors 7 758,502 1,612,864
Cash at bank 33,320 6,035
791,822 1,618,899
CREDITORS
Amounts falling due within one year 8 874,952 1,540,615
NET CURRENT (LIABILITIES)/ASSETS (83,130 ) 78,284
TOTAL ASSETS LESS CURRENT
LIABILITIES

(80,609

)

82,233

PROVISIONS FOR LIABILITIES 291 750
NET (LIABILITIES)/ASSETS (80,900 ) 81,483

CAPITAL AND RESERVES
Called up share capital 5,736 5,736
Retained earnings 10 (86,636 ) 75,747
SHAREHOLDERS' FUNDS (80,900 ) 81,483

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 10 LIMITED (REGISTERED NUMBER: 04360542)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 30 October 2024 and were signed by:





Mr S A Mckenzie - Director


RED 10 LIMITED (REGISTERED NUMBER: 04360542)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Red 10 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company has an overdrawn balance sheet, however the directors have agreed to support the company for a minimum of 1 year from date of signing the accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents amounts received for IT recruitment services.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

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 - 33% on cost

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.

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 10 (2023 - 14 ) .

RED 10 LIMITED (REGISTERED NUMBER: 04360542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 792,874
AMORTISATION
At 1 April 2023
and 31 March 2024 792,874
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 10,238
Additions 1,966
Disposals (3,056 )
At 31 March 2024 9,148
DEPRECIATION
At 1 April 2023 6,290
Charge for year 2,311
Eliminated on disposal (1,973 )
At 31 March 2024 6,628
NET BOOK VALUE
At 31 March 2024 2,520
At 31 March 2023 3,948

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

RED 10 LIMITED (REGISTERED NUMBER: 04360542)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 202,629 1,022,862
Other debtors 555,873 590,002
758,502 1,612,864

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 76,386 476,797
Trade creditors 283,607 641,355
Taxation and social security 262,146 250,129
Other creditors 252,813 172,334
874,952 1,540,615

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 76,386 445,547

The bank overdrafts are secured against the assets of the company.

10. RESERVES
Retained
earnings
£   

At 1 April 2023 75,747
Deficit for the year (162,383 )
At 31 March 2024 (86,636 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is Red 10 EOT Trustees Limited.

12. EMPLOYEE OWNERSHIP TRUST

Included in Other Debtors are amounts due from Red 10 Employee Ownership Trust, totalling £231,565 (2023: £230,100).