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REGISTERED NUMBER: SC462801 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

RED25 ENTERTAINMENT LIMITED

RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


RED25 ENTERTAINMENT LIMITED

Company Information
for the Year Ended 30 November 2023







DIRECTOR: E Hughes





SECRETARY: M Hughes





REGISTERED OFFICE: 13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS





REGISTERED NUMBER: SC462801 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)

Abridged Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 4,800
Tangible assets 5 31,525 36,002
31,525 40,802

CURRENT ASSETS
Stocks 2,950 2,888
Debtors 261 496
Cash at bank 61,318 78,014
64,529 81,398
CREDITORS
Amounts falling due within one year (49,085 ) (59,802 )
NET CURRENT ASSETS 15,444 21,596
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,969

62,398

PROVISIONS FOR LIABILITIES (5,990 ) (5,168 )
NET ASSETS 40,979 57,230

CAPITAL AND RESERVES
Called up share capital 6 1 1
Retained earnings 7 40,978 57,229
SHAREHOLDERS' FUNDS 40,979 57,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)

Abridged Balance Sheet - continued
30 November 2023


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 30 November 2023 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 director and authorised for issue on 27 November 2024 and were signed by:





E Hughes - Director


RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Red25 Entertainment 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
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its useful life of ten 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.
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.

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.

RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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 11 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022
and 30 November 2023 48,000
AMORTISATION
At 1 December 2022 43,200
Amortisation for year 4,800
At 30 November 2023 48,000
NET BOOK VALUE

At 30 November 2023 -
At 30 November 2022 4,800

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 87,452
Additions 5,188
At 30 November 2023 92,640
DEPRECIATION
At 1 December 2022 51,450
Charge for year 9,665
At 30 November 2023 61,115
NET BOOK VALUE
At 30 November 2023 31,525
At 30 November 2022 36,002

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

RED25 ENTERTAINMENT LIMITED (REGISTERED NUMBER: SC462801)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. RESERVES
Retained
earnings
£   

At 1 December 2022 57,229
Deficit for the year (16,251 )
At 30 November 2023 40,978

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the director £29,601 (2022: £27,543) This loan is interest free and repayable on demand.