Registered number
11954083
Redhunt Labs Limited
Unaudited Filleted Accounts
31 March 2024
Redhunt Labs Limited
Registered number: 11954083
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 568,068 533,178
Tangible assets 4 2,938 6,654
Investments 5 1,089 1,089
572,095 540,921
Current assets
Debtors 6 157,003 27,479
Cash at bank and in hand 18,827 181,765
175,830 209,244
Creditors: amounts falling due within one year 7 (254,415) (223,278)
Net current liabilities (78,585) (14,034)
Total assets less current liabilities 493,510 526,887
Provisions for liabilities (91,112) (67,235)
Net assets 402,398 459,652
Capital and reserves
Called up share capital 10 10
Share premium 149,997 149,997
Profit and loss account 252,391 309,645
Shareholders' funds 402,398 459,652
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sudhanshu Chauhan
Director
Approved by the board on 20 December 2024
Redhunt Labs Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Including directors Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Development expenditure
Cost
At 1 April 2023 766,215
Additions 217,913
At 31 March 2024 984,128
Amortisation
At 1 April 2023 233,037
Provided during the year 183,023
At 31 March 2024 416,060
Net book value
At 31 March 2024 568,068
At 31 March 2023 533,178
Written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 18,581
At 31 March 2024 18,581
Depreciation
At 1 April 2023 11,927
Charge for the year 3,716
At 31 March 2024 15,643
Net book value
At 31 March 2024 2,938
At 31 March 2023 6,654
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 1,089
At 31 March 2024 1,089
6 Debtors 2024 2023
£ £
Trade debtors 150,214 27,479
Other debtors 6,789 -
157,003 27,479
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 248,008 219,051
Taxation and social security costs 6,407 4,227
Other creditors - -
254,415 223,278
8 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, not to disclose related party transactions with wholly owned subsidiaries within the group.
9 Controlling party
Sudhanshu Chauhan and Shubham Mittal, directors of the company, together are the ultimate controlling parties.
10 Other information
Redhunt Labs Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 First Floor
60 Grays Inn Road
London
United Kingdom
WC1X 8AQ
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