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REGISTERED NUMBER: 08012302 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Red Star Wealth Management Limited

Red Star Wealth Management Limited (Registered number: 08012302)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Red Star Wealth Management Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs K L Cunliffe
N J Cunliffe





REGISTERED OFFICE: 2 York Street
Clitheroe
Lancashire
BB7 2DL





REGISTERED NUMBER: 08012302 (England and Wales)





ACCOUNTANTS: FS Accountants Limited
2 York Street
Clitheroe
Lancashire
BB7 2DL

Red Star Wealth Management Limited (Registered number: 08012302)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,307 1,579
2,307 1,579

CURRENT ASSETS
Debtors 36,775 41,544
Cash at bank 25,204 49,687
61,979 91,231
CREDITORS
Amounts falling due within one year 12,698 15,843
NET CURRENT ASSETS 49,281 75,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,588

76,967

CREDITORS
Amounts falling due after more than one
year

6

(44,240

)

(49,634

)

PROVISIONS FOR LIABILITIES (438 ) (389 )
NET ASSETS 6,910 26,944

CAPITAL AND RESERVES
Called up share capital 610 610
Retained earnings 6,300 26,334
SHAREHOLDERS' FUNDS 6,910 26,944

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 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 Star Wealth Management Limited (Registered number: 08012302)

Abridged 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 May 2024 and were signed on its behalf by:




Mrs K L Cunliffe - Director



N J Cunliffe - Director


Red Star Wealth Management Limited (Registered number: 08012302)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Red Star Wealth Management 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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 - 20% 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.

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 4 (2023 - 3 ) .

Red Star Wealth Management Limited (Registered number: 08012302)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023
and 31 March 2024 66,372
AMORTISATION
At 1 April 2023
and 31 March 2024 66,372
NET BOOK VALUE

At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 8,674
Additions 1,449
At 31 March 2024 10,123
DEPRECIATION
At 1 April 2023 7,095
Charge for year 721
At 31 March 2024 7,816
NET BOOK VALUE
At 31 March 2024 2,307
At 31 March 2023 1,579

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Subordinated loan 16,000 16,000