Company Registration No. 09229514 (England and Wales)
Red Bullet Web Development Ltd
Unaudited accounts
for the year ended 30 September 2024
Red Bullet Web Development Ltd
Unaudited accounts
Contents
Red Bullet Web Development Ltd
Company Information
for the year ended 30 September 2024
Directors
Andrew Michael Creed
Simon James Wilson
Company Number
09229514 (England and Wales)
Registered Office
89-90 3rd Floor
89-90 Paul Street
London
EC2A 4NE
United Kingdom
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Red Bullet Web Development Ltd
Statement of financial position
as at 30 September 2024
Tangible assets
1,841
3,910
Cash at bank and in hand
25,031
24,937
Creditors: amounts falling due within one year
(56,587)
(73,796)
Net current assets
33,044
6,056
Total assets less current liabilities
34,885
9,966
Creditors: amounts falling due after more than one year
(4,000)
(9,964)
Called up share capital
100
100
Profit and loss account
30,785
(98)
Shareholders' funds
30,885
2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by
Simon James Wilson
Director
Company Registration No. 09229514
Red Bullet Web Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
Red Bullet Web Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 09229514. The registered office is 89-90 3rd Floor, 89-90 Paul Street, London, EC2A 4NE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 September 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 October 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Computer equipment
33% Straight Line
Red Bullet Web Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.
Red Bullet Web Development Ltd
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
205
10,923
11,128
At 30 September 2024
205
10,989
11,194
At 1 October 2023
149
7,069
7,218
Charge for the year
51
2,084
2,135
At 30 September 2024
200
9,153
9,353
At 30 September 2024
5
1,836
1,841
At 30 September 2023
56
3,854
3,910
Amounts falling due within one year
Trade debtors
46,206
43,069
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,000
6,000
Trade creditors
3,350
2,511
Amounts owed to group undertakings and other participating interests
4,822
-
Taxes and social security
3,546
28,838
Other creditors
678
(1,286)
Loans from directors
2,919
2,295
Deferred income
10,671
16,194
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 5 (2023: 5).