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COMPANY REGISTRATION NUMBER: 02732904
Redbox Asset Management Limited
Filleted Unaudited Financial Statements
30 June 2024
Redbox Asset Management Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,406,805
2,136,613
Current assets
Stocks
1,350,301
722,257
Debtors
6
1,477,938
1,945,107
Cash at bank and in hand
285,610
9,780
------------
------------
3,113,849
2,677,144
Creditors: amounts falling due within one year
7
3,580,709
3,115,950
------------
------------
Net current liabilities
466,860
438,806
------------
------------
Total assets less current liabilities
1,939,945
1,697,807
Creditors: amounts falling due after more than one year
8
205,467
120,403
------------
------------
Net assets
1,734,478
1,577,404
------------
------------
Capital and reserves
Called up share capital
900
900
Revaluation reserve
288,302
288,302
Profit and loss account
1,445,276
1,288,202
------------
------------
Shareholders funds
1,734,478
1,577,404
------------
------------
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.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Redbox Asset Management Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
Mr Chaudry
Director
Company registration number: 02732904
Redbox Asset Management Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Moorhead Lane, Saltaire, Shipley, West Yorkshire, BD18 4JH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Long Leasehold Property
-
10% straight line
Fixtures & Fittings
-
25% straight line
Motor vehicles
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 3 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2023
2,188,387
2,314
29,990
2,220,691
Additions
921,357
921,357
Disposals
( 702,939)
( 2,314)
( 29,990)
( 735,243)
------------
-------
--------
------------
At 30 June 2024
2,406,805
2,406,805
------------
-------
--------
------------
Depreciation
At 1 July 2023
55,939
2,314
25,825
84,078
Charge for the year
4,165
4,165
Disposals
( 55,939)
( 2,314)
( 29,990)
( 88,243)
------------
-------
--------
------------
At 30 June 2024
------------
-------
--------
------------
Carrying amount
At 30 June 2024
2,406,805
2,406,805
------------
-------
--------
------------
At 30 June 2023
2,132,448
4,165
2,136,613
------------
-------
--------
------------
6. Debtors
2024
2023
£
£
Trade debtors
77,843
50,362
Amounts owed by group undertakings and undertakings in which the company has a participating interest
544,620
1,386,902
Other debtors
855,475
507,843
------------
------------
1,477,938
1,945,107
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
70,747
98,396
Amounts owed to group undertakings and undertakings in which the company has a participating interest
928,258
1,098,292
Corporation tax
83,224
134,918
Social security and other taxes
681
4,128
Other creditors
2,497,799
1,780,216
------------
------------
3,580,709
3,115,950
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
19,167
29,103
Amounts owed to group undertakings and undertakings in which the company has a participating interest
186,300
91,300
---------
---------
205,467
120,403
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Chaudry
( 106,348)
( 197,200)
( 303,548)
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr Chaudry
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