Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-08-01falseManagement consultancy32truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09131091 2023-08-01 2024-07-31 09131091 2022-08-01 2023-07-31 09131091 2024-07-31 09131091 2023-07-31 09131091 c:Director1 2023-08-01 2024-07-31 09131091 d:FurnitureFittings 2023-08-01 2024-07-31 09131091 d:FurnitureFittings 2024-07-31 09131091 d:FurnitureFittings 2023-07-31 09131091 d:CurrentFinancialInstruments 2024-07-31 09131091 d:CurrentFinancialInstruments 2023-07-31 09131091 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 09131091 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 09131091 d:ShareCapital 2024-07-31 09131091 d:ShareCapital 2023-07-31 09131091 d:RetainedEarningsAccumulatedLosses 2024-07-31 09131091 d:RetainedEarningsAccumulatedLosses 2023-07-31 09131091 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 09131091 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 09131091 c:FRS102 2023-08-01 2024-07-31 09131091 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09131091 c:FullAccounts 2023-08-01 2024-07-31 09131091 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09131091 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 09131091









RED2VIOLET LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

 
RED2VIOLET LIMITED
REGISTERED NUMBER: 09131091

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
3,796

  
-
3,796

Current assets
  

Debtors: amounts falling due within one year
 5 
12,151
32,931

Cash at bank and in hand
 6 
409
5,403

  
12,560
38,334

Creditors: amounts falling due within one year
 7 
(12,457)
(40,878)

Net current assets/(liabilities)
  
 
 
103
 
 
(2,544)

Total assets less current liabilities
  
103
1,252

  

Net assets
  
103
1,252


Capital and reserves
  

Called up share capital 
  
103
103

Profit and loss account
  
-
1,149

  
103
1,252


Page 1

 
RED2VIOLET LIMITED
REGISTERED NUMBER: 09131091
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 January 2025.




................................................
Camilla Davies
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
RED2VIOLET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Red2Violet Limited is a private company, limited by share capital, incorporated in England.  The principal activity of the Company was the provision of consultancy services.
The Company ceased trading on the 31st July 2024.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
RED2VIOLET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
RED2VIOLET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).


4.


Tangible fixed assets





Fixtures, fittings and equipment

£





At 1 August 2023
5,846


Disposals
(5,846)



At 31 July 2024

-





At 1 August 2023
2,050


Disposals
(2,050)



At 31 July 2024

-



Net book value



At 31 July 2024
-



At 31 July 2023
3,796

Page 5

 
RED2VIOLET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
-
18,240

Other debtors
12,151
14,691

12,151
32,931


Included within other debtors due within one year is a loan to Camilla Davies, a director, amounting to £12,151 (2023 - £14,691).




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
409
5,403

409
5,403



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
11,017
27,706

Other taxation and social security
-
10,213

Other creditors
-
1,399

Accruals and deferred income
1,440
1,560

12,457
40,878


Page 6

 
RED2VIOLET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
409
5,403




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


9.


Controlling party

The Company is controlled by the director, Camilla Davies, by virtue of her shareholding as described in the Directors' report.

 
Page 7