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Company registration number: 07667732
Red Cow Investments Limited
Unaudited filleted financial statements
for the year ended
31 August 2024
Prepared by:
THOMAS NOCK MARTIN LIMITED
CHARTERED ACCOUNTANTS
BRIERLEY HILL
Red Cow Investments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Red Cow Investments Limited
Directors and other information
Directors Gary John Cooke
Sharon Brigid Cartner
Company number 07667732
Registered office 5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Business address Meadow Barn
Hook Grange
Welland Road
Upton upon Severn, Worcestershire
WR8 0SR
Accountants Thomas Nock Martin Limited
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
Bankers NatWest plc
1 The Cross
Worcester
WR1 3PR
Red Cow Investments Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Red Cow Investments Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red Cow Investments Limited for the year ended 31 August 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Red Cow Investments Limited, as a body, in accordance with the terms of our engagement letter dated 12 November 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Red Cow Investments Limited and state those matters that we have agreed to state to the board of directors of Red Cow Investments Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red Cow Investments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Red Cow Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red Cow Investments Limited. You consider that Red Cow Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Red Cow Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Thomas Nock Martin Limited
Chartered Accountants
5 Hagley Court South
The Waterfront
Brierley Hill
West Midlands
DY5 1XE
10 January 2025
Red Cow Investments Limited
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 6 - -
Tangible assets 7 589 1,261
Investments 8 229,963 181,232
_______ _______
230,552 182,493
Current assets
Debtors 9 44,854 29,640
Cash at bank and in hand 733,328 705,890
_______ _______
778,182 735,530
Creditors: amounts falling due
within one year 10 ( 45,910) ( 53,666)
_______ _______
Net current assets 732,272 681,864
_________ _______
Total assets less current liabilities 962,824 864,357
Provisions for liabilities ( 150) ( 315)
_________ _______
Net assets 962,674 864,042
_________ _______
Capital and reserves
Called up share capital 11 100 100
Profit and loss account 962,574 863,942
_________ _______
Shareholders funds 962,674 864,042
_________ _______
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 January 2025 , and are signed on behalf of the board by:
Gary John Cooke
Director
Company registration number: 07667732
Red Cow Investments Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 5 Hagley Court South, The Waterfront, Brierley Hill, West Midlands, DY5 1XE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents commissions receivable during the year. The company is not registered for Value Added Tax purposes.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office and computer equipment - 20% and 25% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in thestatement of financial position and the amount of the provision as an expense.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and trade creditors, other debtors and creditors .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 55,000 35,000
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2023 and 31 August 2024 430,000 430,000
_______ _______
Amortisation
At 1 September 2023 and 31 August 2024 430,000 430,000
_______ _______
Carrying amount
At 31 August 2024 - -
_______ _______
At 31 August 2023 - -
_______ _______
7. Tangible assets
Office & computer equipment Total
£ £
Cost
At 1 September 2023 and 31 August 2024 4,333 4,333
_______ _______
Depreciation
At 1 September 2023 3,072 3,072
Charge for the year 672 672
_______ _______
At 31 August 2024 3,744 3,744
_______ _______
Carrying amount
At 31 August 2024 589 589
_______ _______
At 31 August 2023 1,261 1,261
_______ _______
8. Investments
Other investments other than loans Total
£ £
Cost
At 1 September 2023 181,232 181,232
Additions 28,895 28,895
Fair value adjustment 20,578 20,578
Other movements ( 742) ( 742)
_______ _______
At 31 August 2024 229,963 229,963
_______ _______
Impairment
At 1 September 2023 and 31 August 2024 - -
_______ _______
Carrying amount
At 31 August 2024 229,963 229,963
_______ _______
At 31 August 2023 181,232 181,232
_______ _______
9. Debtors
2024 2023
£ £
Trade debtors 11,778 6,250
Other debtors 33,076 23,390
_______ _______
44,854 29,640
_______ _______
10. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,570 999
Corporation tax 42,360 34,520
Other creditors 1,980 18,147
_______ _______
45,910 53,666
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary A shares of £ 1.00 each 75 75 75 75
Ordinary B shares of £ 1.00 each 25 25 25 25
_______ _______ _______ _______
100 100 100 100
_______ _______ _______ _______
12. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances to the directors Amounts repaid Balance carried forward
£ £ £ £
Gary John Cooke 23,092 65,157 ( 55,492) 32,757
_______ _______ _______ _______
2023
Balance brought forward Advances to the directors Amounts repaid Balance carried forward
£ £ £ £
Gary John Cooke ( 16,354) 65,846 ( 26,400) 23,092
_______ _______ _______ _______