Registered number
03235612
R.E.D. Bars Limited
Unaudited Filleted Accounts
30 September 2024
R.E.D. Bars Limited
Registered number: 03235612
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,248 7,381
Current assets
Stocks 19,315 21,814
Debtors 4 323,753 306,743
Cash at bank and in hand 917,464 790,825
1,260,532 1,119,382
Creditors: amounts falling due within one year 5 (147,029) (147,217)
Net current assets 1,113,503 972,165
Total assets less current liabilities 1,126,751 979,546
Provisions for liabilities (3,312) (1,844)
Net assets 1,123,439 977,702
Capital and reserves
Called up share capital 6 6
Profit and loss account 1,123,433 977,696
Shareholders' funds 1,123,439 977,702
The director is 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 director acknowledges his 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.
S J O'brien
Director
Approved by the board on 24 March 2025
R.E.D. Bars Limited
Notes to the Accounts
for the year ended 30 September 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.
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:
Leasehold property over the lease term
Fixtures and Fittings 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 16
3 Tangible fixed assets
Land and buildings Fixtures + Fittings Total
£ £ £
Cost
At 1 October 2023 62,000 103,279 165,279
Additions - 9,262 9,262
At 30 September 2024 62,000 112,541 174,541
Depreciation
At 1 October 2023 62,000 95,898 157,898
Charge for the year - 3,395 3,395
At 30 September 2024 62,000 99,293 161,293
Net book value
At 30 September 2024 - 13,248 13,248
At 30 September 2023 - 7,381 7,381
4 Debtors 2024 2023
£ £
Director's current account 229,472 229,300
Prepayments 2,747 2,920
Other Debtors 17,011 -
S455 tax 74,523 74,523
323,753 306,743
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 42,575 56,235
Taxation and social security costs 103,237 79,170
Other creditors 1,217 11,812
147,029 147,217
6 Other information
R.E.D. Bars Limited is a private company limited by shares and incorporated in England. Its registered office is:
34 Park Street
Windsor
Berks.
SL4 1LB
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