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REGISTERED NUMBER: 09117812 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 July 2024

for

RED FIRE LIMITED

RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RED FIRE LIMITED

Company Information
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: M Lovell
C G Belcher





REGISTERED OFFICE: Unit 1
Hoath Business Centre
Wigmore
Kent
ME8 0BF





REGISTERED NUMBER: 09117812 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Balance Sheet
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 74,720 56,906

CURRENT ASSETS
Stocks 800 -
Debtors 6 268,686 222,777
Cash at bank 57,538 205,706
327,024 428,483
CREDITORS
Amounts falling due within one year 7 184,768 226,587
NET CURRENT ASSETS 142,256 201,896
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,976

258,802

CREDITORS
Amounts falling due after more than one
year

8

(112,817

)

(97,041

)

PROVISIONS FOR LIABILITIES (17,246 ) (13,897 )
NET ASSETS 86,913 147,864

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 86,911 147,862
SHAREHOLDERS' FUNDS 86,913 147,864

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 FIRE LIMITED (REGISTERED NUMBER: 09117812)

Balance Sheet - continued
31 JULY 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 24 April 2025 and were signed on its behalf by:





C G Belcher - Director


RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Red Fire Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The company has transferred from FRS 105 to FRS 102 as at 1 August 2023. Please refer to note 11 for an explanation of the transition.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the turnover recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of turnover can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on cost and 20% on reducing balance

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


RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


3. ACCOUNTING POLICIES - continued
Taxation
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 year 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 5,941 107,600 113,541
Additions - 57,168 57,168
Disposals (644 ) (4,167 ) (4,811 )
At 31 July 2024 5,297 160,601 165,898
DEPRECIATION
At 1 August 2023 3,510 53,125 56,635
Charge for year 530 36,816 37,346
Eliminated on disposal (129 ) (2,674 ) (2,803 )
At 31 July 2024 3,911 87,267 91,178
NET BOOK VALUE
At 31 July 2024 1,386 73,334 74,720
At 31 July 2023 2,431 54,475 56,906

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 213,071 214,924
Other debtors 55,615 7,853
268,686 222,777

RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,742 16,139
Hire purchase contracts and finance leases 29,920 15,465
Trade creditors 19,281 27,682
Taxation and social security 99,383 131,333
Other creditors 30,442 35,968
184,768 226,587

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 27,819 33,526
Hire purchase contracts and finance leases 84,998 63,515
112,817 97,041

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,642 9,399

9. OTHER FINANCIAL COMMITMENTS

At the reporting end date the company had outstanding commitments for future lease payments of £51,403 (2023 £NIL).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
M Lovell
Balance outstanding at start of year (11,312 ) (13,417 )
Amounts advanced 84,611 55,000
Amounts repaid (75,598 ) (52,895 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,299 ) (11,312 )

RED FIRE LIMITED (REGISTERED NUMBER: 09117812)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JULY 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

C G Belcher
Balance outstanding at start of year (13,053 ) (15,672 )
Amounts advanced 75,050 55,600
Amounts repaid (66,671 ) (52,981 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,674 ) (13,053 )

The loans from the directors to the company are unsecured and repayable on demand. Interest has been charged at a rate of 12% per annum.

11. FIRST YEAR ADOPTION

Explanation of the changes to previously reported profit and equity

FRS102 requires the company to recognise a deferred tax provision for all timing differences at the reporting date. The previous years accounts to the 31st July 2023 were prepared under FRS105 which does not permit deferred tax provisions. As a result of transition, provisions have been made since the date of transition on the 1st August 2023.