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REGISTERED NUMBER: 06014409 (England and Wales)















Unaudited Financial Statements

for the Period 1 December 2023 to 31 December 2024

for

RED SYSTEMS LTD

RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Contents of the Financial Statements
for the Period 1 December 2023 to 31 December 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RED SYSTEMS LTD

Company Information
for the Period 1 December 2023 to 31 December 2024







DIRECTORS: Mr Robert Stewart Burgess
Mr Michael James Green
Mr Peter Leslie Moss
Mr Daniel Petrus Ruygrok
Mr Jonathan David Nash





REGISTERED OFFICE: Plot L, Clayhill Industrial Estate
Neston
Wirral
CH64 3RU





REGISTERED NUMBER: 06014409 (England and Wales)





ACCOUNTANTS: Butterworth Barlow
Chartered Accountants
Butterworth Barlow House
10 Derby Street
Prescot
Liverpool
Merseyside
L34 3LG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Red Systems Ltd


The following reproduces the text of the report prepared for the directors 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 Directors 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 Systems Ltd for the period ended 31 December 2024 which comprise the Income Statement, 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 Board of Directors of Red Systems Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Systems Ltd and state those matters that we have agreed to state to the Board of Directors of Red Systems Ltd, as a body, 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 Systems Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Red Systems Ltd 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 Systems Ltd. You consider that Red Systems Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Red Systems Ltd. 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.






Butterworth Barlow
Chartered Accountants
Liverpool
L34 3LG


26 March 2025

RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Balance Sheet
31 December 2024

31.12.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 201,081 192,324
Investments 5 301,750 300,750
502,831 493,074

CURRENT ASSETS
Stocks 564,720 283,331
Debtors 6 3,364,417 3,421,775
Cash at bank and in hand 1,439,668 825,566
5,368,805 4,530,672
CREDITORS
Amounts falling due within one year 7 3,058,622 2,763,363
NET CURRENT ASSETS 2,310,183 1,767,309
TOTAL ASSETS LESS CURRENT LIABILITIES 2,813,014 2,260,383

CREDITORS
Amounts falling due after more than one year 8 (52,449 ) (120,323 )

PROVISIONS FOR LIABILITIES (50,270 ) (48,081 )
NET ASSETS 2,710,295 2,091,979

CAPITAL AND RESERVES
Called up share capital 9 151,800 151,800
Retained earnings 2,558,495 1,940,179
SHAREHOLDERS' FUNDS 2,710,295 2,091,979

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Balance Sheet - continued
31 December 2024


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 Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Mr Peter Leslie Moss - Director


RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Notes to the Financial Statements
for the Period 1 December 2023 to 31 December 2024


1. STATUTORY INFORMATION

Red Systems Ltd 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.

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 the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 period 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 SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Notes to the Financial Statements - continued
for the Period 1 December 2023 to 31 December 2024


2. ACCOUNTING POLICIES - continued

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.

Contract revenue
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 reporting period can be measured reliably; and
- The costs incurred and the costs to complete the contract can be measured reliably.

Construction Contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion.

Variations on contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable.

When it is probable that total contract costs will exceed revenue, the expected loss is recognised as an expense immediately. Contract costs are recognised as expenses in the period in which they are incurred.

Where contract costs, plus recognised profits, less recognised losses and progress billings gives rise to an asset, the asset is included in debtors as amounts recoverable on contracts. Where such an amount gives rise to liability, the liability is included in creditors as amounts due to customers.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 36 (2023 - 35 ) .

RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Notes to the Financial Statements - continued
for the Period 1 December 2023 to 31 December 2024


4. TANGIBLE FIXED ASSETS
Improvements
to Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 123,368 195,381 47,670 366,419
Additions - 39,990 31,016 71,006
At 31 December 2024 123,368 235,371 78,686 437,425
DEPRECIATION
At 1 December 2023 68,581 76,335 29,179 174,095
Charge for period 14,838 37,603 9,808 62,249
At 31 December 2024 83,419 113,938 38,987 236,344
NET BOOK VALUE
At 31 December 2024 39,949 121,433 39,699 201,081
At 30 November 2023 54,787 119,046 18,491 192,324

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 December 2023 300,750
Additions 1,000
At 31 December 2024 301,750
NET BOOK VALUE
At 31 December 2024 301,750
At 30 November 2023 300,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.11.23
£    £   
Amounts owed by group undertakings - 230,000
Amounts recoverable on
contracts 2,102,187 2,043,029
Other debtors 1,262,230 1,148,746
3,364,417 3,421,775

RED SYSTEMS LTD (REGISTERED NUMBER: 06014409)

Notes to the Financial Statements - continued
for the Period 1 December 2023 to 31 December 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 30.11.23
£    £   
Hire purchase contracts 53,685 17,776
Trade creditors 1,650,848 2,066,126
Amounts owed to group undertakings 55,699 66,448
Amounts owed to participating interests 24,015 13,758
Taxation and social security 245,926 123,837
Other creditors 1,028,449 475,418
3,058,622 2,763,363

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 30.11.23
£    £   
Hire purchase contracts 52,449 72,158
Other creditors - 48,165
52,449 120,323

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 30.11.23
value: £    £   
150,000 Ordinary A Shares £1 150,000 150,000
1,800 Ordinary B Shares £1 1,800 1,800
151,800 151,800

10. RELATED PARTY DISCLOSURES

Red Jam Limited is a company related by virtue of directors in common. During the year, the company made purchases from Red Jam Limited amounting to £109,455 (2023: £97,338). The balance due to Red Jam Limited as at 30 November 2024 was £24,015 (2023: £13,758).

Red Open Limited is a 75% subsidiary of Red Systems Ltd and hence a related party. During the year, the company made purchases from Red Open Limited amounting to £935,952 (2023: £460,764). The balance due to Red Open Limited as at 30 November 2024 was £55,659 (2023: £66,448).

Red Optimal Limited is a 75% subsidiary of Red Systems Ltd and hence a related party. During the year, the company made sales to Red Optimal Limited of £333,703 (2023: £nil) and purchases from Red Optimal Limited of £1,235,912 (2023: £nil).The balance due from Red Optimal Limited as at 30 November 2024 was £nil (2023: £230,000).

During the year, the company purchased 100% of the share capital of Redline Facades Limited.