Red 05 Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10609672 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Red 05 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G Curl

SECRETARY:

REGISTERED OFFICE:

40 High Street

Newhaven

East Sussex

BN9 9PD

REGISTERED NUMBER:

10609672 (England and Wales)

ACCOUNTANTS:

Stone's Accountancy Sussex Limited

398 Coast Road

Pevensey Bay

Pevensey

East Sussex

BN24 6NY

FIXED ASSETS

Tangible assets

4

71,284

41,052

CURRENT ASSETS

Stocks

9,759

-

Debtors

5

111,089

152,614

Cash at bank and in hand

22,456

31,372

143,304

183,986

CREDITORS

Amounts falling due within one year

6

105,320

150,698

NET CURRENT ASSETS

37,984

33,288

TOTAL ASSETS LESS CURRENT
LIABILITIES

109,268

74,340

CREDITORS

Amounts falling due after more than
one year

7

(48,193

)

(25,466

)

PROVISIONS FOR LIABILITIES

(866

)

(1,082

)

NET ASSETS

60,209

47,792

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

60,109

47,692

SHAREHOLDERS' FUNDS

60,209

47,792

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 October 2025 and were signed by:

G Curl - Director

M J Archer - Director

1.	STATUTORY INFORMATION

Red 05 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on 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.

Taxation

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

2,253

1,561

54,677

12,360

70,851

Additions

-

55,000

-

55,000

Disposals

-

(25,347

)

-

(25,347

)

At 31 December 2024

2,253

1,561

84,330

12,360

100,504

DEPRECIATION

At 1 January 2024

1,789

810

18,339

8,861

29,799

Charge for year

93

151

14,378

699

15,321

Eliminated on disposal

-

(15,900

)

-

(15,900

)

At 31 December 2024

1,882

961

16,817

9,560

29,220

NET BOOK VALUE

At 31 December 2024

371

600

67,513

2,800

71,284

At 31 December 2023

464

751

36,338

3,499

41,052

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Trade debtors

111,089

152,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

Bank loans and overdrafts

-

19,940

Trade creditors

14,065

4,906

Tax

10,402

6,936

Social security and other taxes

(6,600

)

(8,128

)

VAT

16,291

29,588

Directors' loan accounts

68,910

95,441

Accrued expenses

2,252

2,015

105,320

150,698

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

31/12/24

31/12/23

£

Bank loans - 2-5 years

8,103

10,144

Other loans - 1-2 years

3,590

15,322

No description

14,000

-

No description

22,500

-

48,193

25,466

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the loan accounts on the accounts is from the directors for cash flow injection. The loans are repayable on demand. Interest has been charged at 3.5%.