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Company registration number: 07379630

Red One Ltd

Filleted Annual Report and Financial Statements

for the Year Ended 30 March 2025

 

Red One Ltd

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Red One Ltd

(Registration number: 07379630)
Balance Sheet as at 30 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

128,389

165,459

Current assets

 

Debtors

5

1,168,640

1,312,500

Cash at bank and in hand

 

681,740

565,458

 

1,850,380

1,877,958

Creditors: Amounts falling due within one year

6

(1,116,348)

(1,271,336)

Net current assets

 

734,032

606,622

Total assets less current liabilities

 

862,421

772,081

Provisions for liabilities

 

Deferred tax liabilities

 

(28,749)

(41,364)

Net assets

 

833,672

730,717

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

833,671

730,716

Total equity

 

833,672

730,717

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 


S George
Director

   
 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

1

General information

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

The address of its registered office is:
Devon Transport Centre Red One Offices
Westpoint
Clyst St. Mary
Exeter
Devon
EX5 1DJ

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling (£).

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. 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 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.

 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

Deferred tax is recognised on timing 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible assets

Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation of tangible assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line

Office equipment

20% straight line

Motor vehicles

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Other creditors are measured individually at fair value net of transaction costs and subsequently at amortised cost using the effective interest method.

Reserves

Called up share capital represents the nominal value of shares that have been issued.

Profit and loss reserve includes all current and prior period profits and losses.

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. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as an expense in the profit and loss account when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 116 (2024 - 100).

 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 31 March 2024

62,518

56,534

130,246

249,298

Additions

5,871

6,500

8,862

21,233

Disposals

(5,986)

-

(1,647)

(7,633)

At 30 March 2025

62,403

63,034

137,461

262,898

Depreciation

At 31 March 2024

34,440

16,715

32,684

83,839

Charge for the year

9,799

17,539

30,340

57,678

Eliminated on disposal

(6,514)

-

(494)

(7,008)

At 30 March 2025

37,725

34,254

62,530

134,509

Carrying amount

At 30 March 2025

24,678

28,780

74,931

128,389

At 30 March 2024

28,078

39,819

97,562

165,459

5

Debtors

Current

2025
£

2024
£

Trade debtors

738,809

792,483

Other debtors

429,831

520,017

 

1,168,640

1,312,500

 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

6

Creditors

2025
£

2024
£

Due within one year

Trade creditors

75,843

270,123

Taxation and social security

536,166

512,734

Accruals and deferred income

418,415

384,957

Other creditors

85,924

103,522

1,116,348

1,271,336

7

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 £201,022 (2024 - £89,005).

 

Red One Ltd

Notes to the Financial Statements
for the Year Ended 30 March 2025

8

Parent and ultimate parent undertaking

The company's immediate parent is Devon and Somerset Fire Rescue Authority, incorporated in England and Wales.

9

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £163,768 (2024 - £100,026).

Contributions totalling £26,101 (2024 - £27,629) were payable to the scheme at the end of the year and are included in creditors.

10

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 6 June 2025 was Matthew Chandler ACA, who signed for and on behalf of Albert Goodman LLP.