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REGISTERED NUMBER: SC393791 (Scotland)




















Red Lemon Workwear Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Red Lemon Workwear Limited (Registered number: SC393791)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Red Lemon Workwear Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: S Porteous



SECRETARY: Whitelaw Wells



REGISTERED OFFICE: 62 Angle Park Terrace
Edinburgh
EH11 2JR



REGISTERED NUMBER: SC393791 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
206 Bruntsfield Place
Edinburgh
EH10 4DF

Red Lemon Workwear Limited (Registered number: SC393791)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 894 1,373

CURRENT ASSETS
Stocks 3,400 3,150
Debtors 5 15,119 16,654
Cash at bank and in hand 28,693 29,916
47,212 49,720
CREDITORS
Amounts falling due within one year 6 17,015 18,816
NET CURRENT ASSETS 30,197 30,904
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,091

32,277

PROVISIONS FOR LIABILITIES 170 261
NET ASSETS 30,921 32,016

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 30,920 32,015
SHAREHOLDERS' FUNDS 30,921 32,016

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Lemon Workwear Limited (Registered number: SC393791)

Balance Sheet - continued
29 February 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 26 September 2024 and were signed by:





S Porteous - Director


Red Lemon Workwear Limited (Registered number: SC393791)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Red Lemon Workwear 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.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods, excluding value added tax, from the sale of corporate clothing.

Revenue is recognised on dispatch of goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.


Red Lemon Workwear Limited (Registered number: SC393791)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 3,071
DEPRECIATION
At 1 March 2023 1,698
Charge for year 479
At 29 February 2024 2,177
NET BOOK VALUE
At 29 February 2024 894
At 28 February 2023 1,373

Red Lemon Workwear Limited (Registered number: SC393791)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,202 16,134
Other debtors 917 520
15,119 16,654

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,143 10,837
Taxation and social security 5,151 5,599
Other creditors 1,721 2,380
17,015 18,816

Included in other creditors is a director's loan of £291 (2023: £410). This loan is unsecured, interest free and has no set repayment date.

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,409 4,229
Between one and five years - 1,409
1,409 5,638