REGISTERED NUMBER: 06831515 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Red Hot Products Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

G Northover

Mrs J Northover

REGISTERED OFFICE:

3-4 Barton Court,

Jacks Way

Hill Barton Business Park

Exeter

Devon

EX5 1FG

REGISTERED NUMBER:

06831515 (England and Wales)

ACCOUNTANTS:

Kirk Hills Business Advisors

a trading name of RT Marke &

Co Ltd Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

FIXED ASSETS

Tangible assets

4

984,706

981,407

CURRENT ASSETS

Stocks

1,584,088

1,516,654

Debtors

5

551,774

665,366

Cash at bank

4,435,446

2,736,285

6,571,308

4,918,305

CREDITORS

Amounts falling due within one year

6

1,316,760

972,776

NET CURRENT ASSETS

5,254,548

3,945,529

TOTAL ASSETS LESS CURRENT LIABILITIES

6,239,254

4,926,936

PROVISIONS FOR LIABILITIES

21,696

19,666

NET ASSETS

6,217,558

4,907,270

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,217,458

4,907,170

6,217,558

4,907,270

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 directors acknowledge their 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 Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by:

G Northover - Director

1.	STATUTORY INFORMATION

Red Hot Products Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost, 33% on reducing balance, 25% on reducing balance, 25% on cost, 20% on cost, 15% on cost, 15% on reducing balance and 10% on cost

An asset is recognised when expenditure is incurred on a piece of equipment, machinery or the like that is expected to have a useful life of more than one year

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Foreign exchange variances

Foreign exchange variances resulting from the settlement of supplier invoices in foreign currencies will be recognised as part of the cost of purchases. This approach ensures that the total cost of stock includes all related costs, including currency fluctuations between invoice date and settlement date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

1,013,099

262,458

1,275,557

Additions

-

49,473

49,473

Disposals

-

(5,021

)

(5,021

)

At 31 December 2024

1,013,099

306,910

1,320,009

DEPRECIATION

At 1 January 2024

103,057

191,093

294,150

Charge for year

15,356

27,518

42,874

Eliminated on disposal

-

(1,721

)

(1,721

)

At 31 December 2024

118,413

216,890

335,303

NET BOOK VALUE

At 31 December 2024

894,686

90,020

984,706

At 31 December 2023

910,042

71,365

981,407

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

524,315

622,980

Other debtors

27,459

42,386

551,774

665,366

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

309,467

147,381

Taxation and social security

502,608

612,904

Other creditors

504,685

212,491

1,316,760

972,776

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

32,994

8,778

Between one and five years

22,513

2,926

55,507

11,704

8.	RELATED PARTY DISCLOSURES

During the year the directors' had a maximum overdrawn balance of £49,568. The closing balance owed to the directors at the year end was £905.09.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red Hot Products Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Red Hot Products Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Hot Products Limited and state those matters that we have agreed to state to the Board of Directors of Red Hot Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red Hot Products Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Red Hot Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red Hot Products Limited. You consider that Red Hot Products Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Red Hot Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Hills Business Advisors

a trading name of RT Marke &

Co Ltd Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

24 November 2025