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REGISTERED NUMBER: 06845690 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

RED SETTER LIMITED

RED SETTER LIMITED (REGISTERED NUMBER: 06845690)






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 SETTER LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: C Blyth
A P Blyth





REGISTERED OFFICE: Century House
2nd Floor
15-19 Dyke Road
Brighton
East Sussex
BN1 3FE





REGISTERED NUMBER: 06845690 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

RED SETTER LIMITED (REGISTERED NUMBER: 06845690)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 18,479 25,396

CURRENT ASSETS
Debtors 5 321,779 107,503
Cash at bank 67,109 245,719
388,888 353,222
CREDITORS
Amounts falling due within one year 6 (191,603 ) (167,878 )
NET CURRENT ASSETS 197,285 185,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,764

210,740

CREDITORS
Amounts falling due after more than one
year

7

(12,238

)

(22,450

)

PROVISIONS FOR LIABILITIES 9 (2,074 ) (3,178 )
NET ASSETS 201,452 185,112

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 200,452 184,112
SHAREHOLDERS' FUNDS 201,452 185,112

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 SETTER LIMITED (REGISTERED NUMBER: 06845690)

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 Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





A P Blyth - Director


RED SETTER LIMITED (REGISTERED NUMBER: 06845690)

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

1. STATUTORY INFORMATION

Red Setter 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.

Turnover
Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts. Revenue from the sale of services is recognised at the point of sale or when income is earned. Income earned but not billed is included within debtors.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements-10% on cost
Fixtures & equipment-25% on cost
Computer equipment-25% on cost

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Financial instruments
Financial assets, financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 SETTER LIMITED (REGISTERED NUMBER: 06845690)

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Government assistance
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme, the government is paying the first year of interest on the loan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 23 ) .

RED SETTER LIMITED (REGISTERED NUMBER: 06845690)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold and Computer
improvements equipment equipment Totals
£    £    £    £   
COST
At 1 April 2023 25,038 46,185 13,513 84,736
Additions - - 1,613 1,613
At 31 March 2024 25,038 46,185 15,126 86,349
DEPRECIATION
At 1 April 2023 12,352 36,816 10,172 59,340
Charge for year 2,504 4,339 1,687 8,530
At 31 March 2024 14,856 41,155 11,859 67,870
NET BOOK VALUE
At 31 March 2024 10,182 5,030 3,267 18,479
At 31 March 2023 12,686 9,369 3,341 25,396

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 153,853 89,342
Other debtors 167,926 18,161
321,779 107,503

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,213 9,957
Trade creditors 347 -
Taxation and social security 160,635 144,978
Other creditors 20,408 12,943
191,603 167,878

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,238 22,450

RED SETTER LIMITED (REGISTERED NUMBER: 06845690)

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

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 73,000 25,375
Between one and five years 250,600 -
323,600 25,375

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,074 3,178

Deferred
tax
£   
Balance at 1 April 2023 3,178
Accelerated capital allowances (1,104 )
Balance at 31 March 2024 2,074

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
A P Blyth and C Blyth
Balance outstanding at start of year (299 ) (3,048 )
Amounts advanced 103,548 2,749
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,249 (299 )

During the year the company charges the directors beneficial loan interest at 2.25% totalling £2,090. The loans are repayable on demand.