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File copy

Registration number: 05269938

Red 100 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Red 100 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Red 100 Limited

Company Information

Directors

S S Phillips

G Oddy

Company secretary

G Oddy

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Barclays Bank Plc
9 High Street
Colchester
Essex
CO1 1DA

Accountants

Lambert Chapman LLP
Chartered Accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Red 100 Limited

(Registration number: 05269938)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

81,466

99,413

Current assets

 

Debtors

5

175,098

198,734

Cash at bank and in hand

 

139,660

205,330

 

314,758

404,064

Creditors: Amounts falling due within one year

6

(82,354)

(151,828)

Net current assets

 

232,404

252,236

Total assets less current liabilities

 

313,870

351,649

Provisions for liabilities

(11,749)

(15,685)

Net assets

 

302,121

335,964

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

301,121

334,964

Shareholders' funds

 

302,121

335,964

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

.........................................
S S Phillips
Director

.........................................
G Oddy
Company secretary and director

 
     
 

Red 100 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, United Kingdom.

The principal place of business is: Unit 9, Taber Place, Crittall Road, Witham, Essex, CM8 3YP.

These financial statements were authorised for issue by the Board on 2 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises of the fair value of the consideration received or receivable for installing and maintaining air conditioning systems in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants have been recognised within the profit and loss account for the accounting period they relate to.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

 

Red 100 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance method

Office equipment

20% reducing balance method

Motor Vehicles

25% reducing balance method

Improvements to property

4% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Long term employee benefits

The holiday year for Red 100 Limited ends at 31 December 2024.

Any unused holiday can only be carried forward at the discretion of the directors. The cost of any unused entitlement is recognised in the period in which the employee's services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Red 100 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Improvements to property
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

28,613

97,875

36,371

16,062

178,921

Additions

1,754

-

-

-

1,754

At 31 October 2024

30,367

97,875

36,371

16,062

180,675

Depreciation

At 1 November 2023

14,421

38,417

12,216

14,454

79,508

Charge for the year

3,088

14,865

1,426

322

19,701

At 31 October 2024

17,509

53,282

13,642

14,776

99,209

Carrying amount

At 31 October 2024

12,858

44,593

22,729

1,286

81,466

At 31 October 2023

14,192

59,458

24,155

1,608

99,413

5

Debtors

2024
£

2023
£

Trade debtors

148,058

166,362

Directors loan

-

1,007

Other debtors

9,560

11,072

Prepayments

17,480

20,293

175,098

198,734

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

44,538

71,638

Taxation and social security

3,253

2,187

Corporation tax

18,360

41,241

Other creditors

6,569

407

Accruals and deferred income

9,634

36,355

82,354

151,828

 

Red 100 Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

500

500

500

500

Ordinary B shares of £1 each

500

500

500

500

1,000

1,000

1,000

1,000

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £49,000 (2023 - £70,000).