Company registration number 04062689 (England and Wales)
Red Industries (Scotland) Ltd
Unaudited financial statements
For the year ended 31 December 2024
Red Industries (Scotland) Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Red Industries (Scotland) Ltd
Statement of financial position
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Capital and reserves
Called up share capital
3
1,000
1,000
Profit and loss reserves
(1,000)
(1,000)
Total equity
-
0
-
0

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 2 September 2025 and are signed on its behalf by:
Mr S G Lyon
Director
Company registration number 04062689 (England and Wales)
Red Industries (Scotland) Ltd
Notes to the financial statements
For the year ended 31 December 2024
- 2 -
1
Accounting policies
Company information

Red Industries (Scotland) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 4 Newlands Court, Attwood Road, Burntwood Business Park, Burntwood, Staffordshire, WS7 3GF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no income statement is presented in these financial statements.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and has now been fully amortised.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Licence fees
Over 20 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% per annum on cost
Office equipment
25% per annum on cost
Red Industries (Scotland) Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
Red Industries (Scotland) Ltd
Notes to the financial statements (continued)
For the year ended 31 December 2024
- 4 -
3
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
4
Parent company

The immediate parent company is Red Industries Ltd, incorporated in England and Wales, registered office, Unit 4 Newlands Court Attwood Road, Burntwood Business Park, Burntwood, Staffordshire, WS7 3GF.

At the year end, the ultimate parent company is Red Industries Holdings Ltd, incorporated in England and Wales, registered office, Unit 4 Newlands Court Attwood Road, Burntwood Business Park, Burntwood, Staffordshire, WS7 3GF.

At the year end, the largest and smallest group in which the results of the company are consolidated is that headed by Red Industries Holdings Limited, incorporated in England and Wales, registered office, Unit 4 Newlands Court Attwood Road, Burntwood Business Park, Burntwood, Staffordshire, WS7 3GF. The consolidated accounts of this company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. No other group accounts include the results of the company.

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