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COMPANY REGISTRATION NUMBER: NI055282
RED ARMY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2025
RED ARMY LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
28,502
34,000
Current assets
Debtors
6
12,204
14,616
Cash at bank and in hand
24,859
32,657
--------
--------
37,063
47,273
Creditors: amounts falling due within one year
7
13,128
14,441
--------
--------
Net current assets
23,935
32,832
--------
--------
Total assets less current liabilities
52,437
66,832
--------
--------
Net assets
52,437
66,832
--------
--------
Capital and reserves
Called up share capital
8
10
10
Profit and loss account
52,427
66,822
--------
--------
Shareholders funds
52,437
66,832
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RED ARMY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
Mr Charles O'Neill
Director
Company registration number: NI055282
RED ARMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/O Flannigan Edmonds Bannon, Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
(a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
fixtures and fittings
-
10% straight line
equipment
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 April 2024
60,000
848
60,848
Additions
529
529
--------
-------
--------
At 31 March 2025
60,000
1,377
61,377
--------
-------
--------
Depreciation
At 1 April 2024
26,000
848
26,848
Charge for the year
6,000
27
6,027
--------
-------
--------
At 31 March 2025
32,000
875
32,875
--------
-------
--------
Carrying amount
At 31 March 2025
28,000
502
28,502
--------
-------
--------
At 31 March 2024
34,000
34,000
--------
-------
--------
6. Debtors
2025
2024
£
£
Trade debtors
12,204
Other debtors
14,616
--------
--------
12,204
14,616
--------
--------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
775
4,454
Social security and other taxes
10,165
8,281
Other creditors
2,188
1,706
--------
--------
13,128
14,441
--------
--------
8. Called up share capital
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
----
----
----
----
9. Director's advances, credits and guarantees
During the year, the company repaid net loans to the director of £Nil (2024: £Nil). The amount outstanding at the balance sheet date was £Nil (2024: £Nil).
10. Related party transactions
The company was under the control of Mr Charles O'Neill throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.