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Registered Number: 06036613
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2024

for

RED17 LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets
Tangible fixed assets 4 1,393    869 
1,393    869 
Current assets
Inventories 5 2,860    3,000 
Debtors 6 2,233    5,919 
Cash at bank and in hand 37,819    54,132 
42,912    63,051 
Creditors: amount falling due within one year 7 (32,178)   (50,473)
Net current assets/(liabilities) 10,734    12,578 
 
Total assets less current liabilities 12,127    13,447 
Provisions for liabilities 8 (265)   (165)
Net assets/(liabilities) 11,862    13,282 
 

Capital and reserves
Called up share capital 2    2 
Profit and loss account 9 11,860    13,280 
Shareholders fund 11,862    13,282 
 
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
  2. 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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime of Part 15 of the Companies Act 2006.
Balance Sheet
Signed on behalf of the board of directors:


----------------------------------
Jason Anthony James Asher
Director

Date approved: 21 May 2025
2
Statutory Information
RED17 LTD is a private limited company, limited by shares, domiciled in England and Wales, registration number 06036613, registration address 31/32 High Street, Wellingborough, Northamptonshire, NN8 4HL, England.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
Turnover
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment25 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Directors' emoluments

2024
£
  2023
£
Directors' remuneration 25,152    21,672 
25,152    21,672 

3.

Tax on profit on ordinary activities

2024
£
  2023
£
UK corporation tax 648    2,902 
Current year deferred tax 100    68 
748    2,970 
4.

Tangible fixed assets

Cost or Valuation   Computer Equipment   Total
    £   £
At 01 January 2024   2,483    2,483 
Additions   757    757 
At 31 December 2024   3,240    3,240 
Depreciation
At 01 January 2024   1,614    1,614 
Charge for year   233    233 
At 31 December 2024   1,847    1,847 
Net book values
Closing balance as at 31 December 2024   1,393    1,393 
Opening balance as at 01 January 2024   869    869 

5.

Inventories

2024
£
  2023
£
Stocks 2,860    3,000 
2,860    3,000 
6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 2,233    5,823 
Prepayments   96 
2,233    5,919 
7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade creditors 21,342    35,422 
Accrued expenses 1,339    1,320 
Corporation tax 648    2,902 
VAT 8,849    10,829 
32,178    50,473 
8.

Provisions for liabilities

2024
£
  2023
£
Deferred tax 265    165 
265    165 
9.

Profit and loss account

  2024
£
Balance at 01 January 2024 22,085 
Profit for the year 3,187 
Equity dividends proposed (13,412)
Balance at 31 December 2024 11,860 

10.

Average number of employees

Average number of employees during the year were 2 (2023: 2).
3