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Registration number: NI694220

Red Box VOIP Ltd

Unaudited Filleted Financial Statements

for the Period from 3 February 2023 to 29 February 2024

 

Red Box VOIP Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Red Box VOIP Ltd

Company Information

Director

Mr Ruairi Mc Keown

Company secretary

Mr Ruairi Mc Keown

Registered office

18 Carrowbane Road
Belleeks
Newry
Co Down
BT35 7QH

Bankers

Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Red Box VOIP Ltd

(Registration number: NI694220)
Balance Sheet as at 29 February 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

451

Current assets

 

Debtors

5

25,100

Cash at bank and in hand

 

7,123

 

32,223

Creditors: Amounts falling due within one year

6

(11,528)

Net current assets

 

20,695

Total assets less current liabilities

 

21,146

Provisions for liabilities

(86)

Net assets

 

21,060

Capital and reserves

 

Called up share capital

7

100

Retained earnings

20,960

Shareholders' funds

 

21,060

For the financial period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Ruairi Mc Keown
Company secretary and director

   
     
 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
18 Carrowbane Road
Belleeks
Newry
Co Down
BT35 7QH

These financial statements were authorised for issue by the director on 31 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

12.5% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effectice interest method and is included in interest payable and similar charges.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remainig balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

515

515

At 29 February 2024

515

515

Depreciation

Charge for the period

64

64

At 29 February 2024

64

64

Carrying amount

At 29 February 2024

451

451

5

Debtors

Current

2024
£

Other debtors

25,100

 

25,100

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

5,175

Accruals and deferred income

600

Other creditors

5,753

11,528

7

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary of £1 each

100

100

   
 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

8

Related party transactions

 

Red Box VOIP Ltd

Notes to the Unaudited Financial Statements for the Period from 3 February 2023 to 29 February 2024

Transactions with the director

2024

At 3 February 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr Ruairi Mc Keown

Director's Loan Account

-

(47)

5,800

5,753