Registered number
04716860
Red River Corporation Limited
Unaudited Filleted Accounts
30 June 2024
Red River Corporation Limited
Registered number: 04716860
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,026 1,060
1,026 1,060
Current assets
Stocks 51,500 -
Debtors 4 159,933 145,142
Cash at bank and in hand 33,691 28,549
245,124 173,691
Creditors: amounts falling due within one year 5 (141,221) (82,756)
Net current assets 103,903 90,935
Total assets less current liabilities 104,929 91,995
Creditors: amounts falling due after more than one year 6 (84,010) (72,942)
Provisions for liabilities - -
Net assets 20,919 19,053
Capital and reserves
Called up share capital 999 999
Profit and loss account 19,920 18,054
Shareholders' funds 20,919 19,053
The directors are 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 directors acknowledge their 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.
Mr. S. Murray
Director
Approved by the board on 26 March 2025
Red River Corporation Limited
Notes to the Accounts
for the year ended 30 June 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 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:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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. 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 by the reporting date and that are expected to apply to the reversal of the timing difference.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 8,369 12,500 20,869
Additions 307 - 307
Surplus on revaluation - - -
Disposals - - -
At 30 June 2024 8,676 12,500 21,176
Depreciation
At 1 July 2023 8,369 11,440 19,809
Charge for the year 76 265 341
Surplus on revaluation - - -
On disposals - - -
At 30 June 2024 8,445 11,705 20,150
Net book value
At 30 June 2024 231 795 1,026
At 30 June 2023 - 1,060 1,060
4 Debtors 2024 2023
£ £
Trade debtors 14,791 -
Other debtors 145,142 145,142
159,933 145,142
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,569 793
Obligations under finance lease and hire purchase contracts 663 -
Taxation and social security costs (7,091) (324)
Other creditors 146,080 82,287
141,221 82,756
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 1,793 3,719
Trade creditors 82,217 69,223
84,010 72,942
7 Other information
Red River Corporation Limited is a private company limited by shares and incorporated in England. Its registered office is:
Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ
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