Red Door Interiors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC441350 (Scotland)

Financial Statements

for the Year Ended 31 March 2019

for

Red Door Interiors Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms L Trainer

REGISTERED OFFICE:

100 Beith Street

Glasgow

G11 6DQ

REGISTERED NUMBER:

SC441350 (Scotland)

ACCOUNTANTS:

O'Haras Chartered Accountants

Radleigh House

1 Golf Road

Clarkston

Glasgow

G76 7HU

FIXED ASSETS

Property, plant and equipment

4

28,176

30,158

CURRENT ASSETS

Inventories

4,248

10,241

Debtors

5

8,308

3,000

Cash at bank

17,208

8,754

29,764

21,995

CREDITORS

Amounts falling due within one year

6

85,667

82,411

NET CURRENT LIABILITIES

(55,903

)

(60,416

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,727

)

(30,258

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(27,728

)

(30,259

)

SHAREHOLDERS' FUNDS

(27,727

)

(30,258

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 on 16 December 2019 and were signed by:

Ms L Trainer - Director

1.	STATUTORY INFORMATION

Red Door Interiors Ltd is a private company, limited by shares , registered in Scotland. 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.

Going concern

The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will

be met as they fall due over a period of at least 12 months from the approval date of these financial statements.

Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue

Turnover represents the amounts derived from the provision of goods and services, excluding value added tax

and trade discounts.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Inventories

Inventories 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.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured

initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the

effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using

the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

28,057

3,510

2,545

34,112

DEPRECIATION

At 1 April 2018

1,034

1,224

1,696

3,954

Charge for year

561

572

849

1,982

At 31 March 2019

1,595

1,796

2,545

5,936

NET BOOK VALUE

At 31 March 2019

26,462

1,714

-

28,176

At 31 March 2018

27,023

2,286

849

30,158

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

8,308

3,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

711

Taxation and social security

2,540

416

Other creditors

83,127

81,284

85,667

82,411

7.	RELATED PARTY DISCLOSURES

During the period the company was controlled by the director.