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REGISTERED NUMBER: 10130167 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

RED VOLCANO LIMITED

RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 7

RED VOLCANO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mr B Jarman





SECRETARY: Mr B Jarman





REGISTERED OFFICE: Second Floor Rear
Waterloo Buildings
53 London Road
Southampton
Hampshire
SO15 2AD





REGISTERED NUMBER: 10130167 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ

RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 791 709
Tangible assets 5 53,064 36,766
53,855 37,475

CURRENT ASSETS
Debtors 6 13,317 13,064
Cash at bank 143,900 166,596
157,217 179,660
CREDITORS
Amounts falling due within one year 7 63,858 77,958
NET CURRENT ASSETS 93,359 101,702
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,214

139,177

CREDITORS
Amounts falling due after more than one
year

8

(56,679

)

(42,798

)

PROVISIONS FOR LIABILITIES (11,674 ) (9,464 )
NET ASSETS 78,861 86,915

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 78,860 86,914
78,861 86,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 29 January 2025 and were signed by:




Mr B Jarman - Director


RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Red Volcano 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 is measured at the fair value of consideration received or recievable, excluding VAT and taking into account trade discounts, settlement discounts and volume rebates.

Where cash inflows are deferred and represent a financing arrangement, the fair value of the consideration
is calculated as the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue arising from the company's ordinary course of business is recognised according to the stage of completion of the company's work, based on the costs incurred and estimable future costs. The level of completion is ascertained by comparing costs incurred to total costs. When such estimation cannot be reliably performed revenue is recognised only to the extent that it is probable it will be recovered..

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.

Trade marks are being amortised evenly over their estimated useful life of 10 years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PROVISIONS FOR DILAPIDATION
Provisions represent the best estimate of the liability at the balance sheet date of probable future costs of restoring rented properties to their required condition at the end ultimate expiry of the lease. Expectations are revised at each period end until the actual liability arises, with any difference accounted for in the period in which the revision is made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 May 2023 709
Additions 170
At 30 April 2024 879
AMORTISATION
Amortisation for year 88
At 30 April 2024 88
NET BOOK VALUE
At 30 April 2024 791
At 30 April 2023 709

RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 2,150 15,630 45,400 27,213 90,393
Additions - - 44,990 438 45,428
Disposals - - (45,400 ) - (45,400 )
At 30 April 2024 2,150 15,630 44,990 27,651 90,421
DEPRECIATION
At 1 May 2023 566 7,413 27,444 18,204 53,627
Charge for year 317 3,126 4,686 3,045 11,174
Eliminated on disposal - - (27,444 ) - (27,444 )
At 30 April 2024 883 10,539 4,686 21,249 37,357
NET BOOK VALUE
At 30 April 2024 1,267 5,091 40,304 6,402 53,064
At 30 April 2023 1,584 8,217 17,956 9,009 36,766

At each balance sheet date, the company reviews the carrying amount of its tangible fixed 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.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2023 45,400
Additions 44,990
Disposals (45,400 )
At 30 April 2024 44,990
DEPRECIATION
At 1 May 2023 27,444
Charge for year 4,686
Eliminated on disposal (27,444 )
At 30 April 2024 4,686
NET BOOK VALUE
At 30 April 2024 40,304
At 30 April 2023 17,956

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,023 2,567
Other debtors 8,162 8,162
Prepayments 3,132 2,335
13,317 13,064

RED VOLCANO LIMITED (REGISTERED NUMBER: 10130167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,827 13,348
Hire purchase contracts (see note 9) 7,951 9,372
Trade creditors 396 -
Tax 18,533 29,502
VAT 1,246 200
Directors' current accounts 11,523 12,116
Deferred income 6,686 8,744
Accrued expenses 4,696 4,676
63,858 77,958

The bank loans and overdrafts are secured by a fixed and floating charge over the company's assets. The finance leases are secured on the assets concerned.

The loan from a director is repayable on demand and interest-free.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 11,031 11,347
Bank loans - 2-5 years 11,165 11,914
Bank loans more than 5 years 15,114 19,537
Hire purchase contracts (see note 9) 19,369 -
56,679 42,798

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 15,114 19,537

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 7,951 9,372
Between one and five years 19,369 -
27,320 9,372

Non-cancellable operating leases
2024 2023
£    £   
Within one year 23,477 23,477
Between one and five years 31,302 54,778
54,779 78,255

10. CAPITAL COMMITMENTS

At 30 April 2024, the company had no Capital Commitments contracted for but not provided for in these financial statements (2023: £nil).

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
RED VOLCANO LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

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 Volcano Limited for the year ended 30 April 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Red Volcano Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Volcano Limited and state those matters that we have agreed to state to the director of Red Volcano Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red Volcano Limited and its director for our work or for this report.

It is your duty to ensure that Red Volcano 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 Volcano Limited. You consider that Red Volcano 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 Volcano 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.






Rothmans LLP
Chartered Accountants
Chilworth Point
1 Chilworth Road
Southampton
SO16 7JQ


Date: .............................................