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Company Registration No. 05444852 (England and Wales)
Redeye Records Limited Unaudited accounts for the year ended 31 March 2025
Redeye Records Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Redeye Records Limited Company Information for the year ended 31 March 2025
Director
Mr Thomas Ison
Company Number
05444852 (England and Wales)
Registered Office
UNIT 5 CRYSTAL BUSINESS CENTRE KNIGHTSDALE ROAD IPSWICH SUFFOLK IP1 4JJ
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Redeye Records Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Intangible assets
4
28,750 
33,750 
Tangible assets
5
14,363 
6,580 
43,113 
40,330 
Current assets
Inventories
21,300 
39,800 
Debtors
6
405,619 
368,930 
Cash at bank and in hand
10,046 
18,794 
436,965 
427,524 
Creditors: amounts falling due within one year
7
(56,343)
(55,605)
Net current assets
380,622 
371,919 
Total assets less current liabilities
423,735 
412,249 
Creditors: amounts falling due after more than one year
8
(64,471)
(75,587)
Provisions for liabilities
Deferred tax
(2,287)
(2,287)
Net assets
356,977 
334,375 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
356,877 
334,275 
Shareholders' funds
356,977 
334,375 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 15 December 2025 and were signed on its behalf by
Mr Thomas Ison Director Company Registration No. 05444852
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Redeye Records Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Redeye Records Limited is a private company, limited by shares, registered in England and Wales, registration number 05444852. The registered office is UNIT 5 CRYSTAL BUSINESS CENTRE, KNIGHTSDALE ROAD, IPSWICH, SUFFOLK, IP1 4JJ.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Intangible fixed assets - Goodwill
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill represents the excess cost 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 is amortised on a systematic basis over its expected life, which is 20 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of each asset in the unit.
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:
Computer equipment
20% Reducing balance
Stocks
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.
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Redeye Records Limited Notes to the Accounts for the year ended 31 March 2025
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2024
100,000 
At 31 March 2025
100,000 
Amortisation
At 1 April 2024
66,250 
Charge for the year
5,000 
At 31 March 2025
71,250 
Net book value
At 31 March 2025
28,750 
At 31 March 2024
33,750 
- 6 -
Redeye Records Limited Notes to the Accounts for the year ended 31 March 2025
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2024
- 
31,759 
31,759 
Additions
8,000 
665 
8,665 
At 31 March 2025
8,000 
32,424 
40,424 
Depreciation
At 1 April 2024
- 
25,179 
25,179 
Charge for the year
- 
882 
882 
At 31 March 2025
- 
26,061 
26,061 
Net book value
At 31 March 2025
8,000 
6,363 
14,363 
At 31 March 2024
- 
6,580 
6,580 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
VAT
10,965 
11,022 
Accrued income and prepayments
520 
574 
Other debtors
394,134 
357,334 
405,619 
368,930 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Bank loans and overdrafts
5,724 
- 
Trade creditors
37,993 
46,117 
Taxes and social security
309 
7,779 
Other creditors
5,331 
- 
Loans from directors
6,986 
1,709 
56,343 
55,605 
Barclays Bank plc hold a fixed and floating charge over all the company's assets dated 15 October 2018 in relation to bank loans. Barclays Bank plc hold a fixed and floating charge over all the property or undertaking of the company dated 5 November 2019 in relation to bank loans.
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Redeye Records Limited Notes to the Accounts for the year ended 31 March 2025
8
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Bank loans
64,471 
75,587 
Barclays Bank plc hold a fixed and floating charge over all the company's assets dated 15 October 2018 in relation to bank loans. Barclays Bank plc also hold a further legal charge dated 23 October 2018 om relation to the freehold property 16 St Margarets Green, Ipswich, IP4 2BS. Barclays Bank plc hold a fixed and floating charge over all the property or undertaking of the company dated 5 November 2019 in relation to bank loans.
9
Transactions with related parties
At the statement of financial position date the total balance owed to the company by RRDTI Limited was £149,988 (2024: £143,030). At the statement of financial position date the total balance owed to the company by Redeye Records (Holdings) Limited was £244,146 (2024: £214,305).
10
Average number of employees
During the year the average number of employees was 3 (2024: 4).
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