Red Rascal Creative Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06659538 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

Red Rascal Creative Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

1,000

CURRENT ASSETS

Debtors

5

15,902

11,602

Cash at bank

1,629

7,436

17,531

19,038

CREDITORS

Amounts falling due within one year

6

11,281

26,621

NET CURRENT ASSETS/(LIABILITIES)

6,250

(7,583

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,250

(6,583

)

CREDITORS

Amounts falling due after more than one year

7

16,949

-

NET LIABILITIES

(10,699

)

(6,583

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(10,799

)

(6,683

)

SHAREHOLDERS' FUNDS

(10,699

)

(6,583

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2023 and were signed by:

L J Rowlett - Director

1.	STATUTORY INFORMATION

Red Rascal Creative Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

06659538

Registered office:

77 High Street

Berkhamsted

HP4 2DE

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2021

and 31 July 2022

30,000

AMORTISATION

At 1 August 2021

29,000

Charge for year

1,000

At 31 July 2022

30,000

NET BOOK VALUE

At 31 July 2022

-

At 31 July 2021

1,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Other debtors

15,902

11,602

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans and overdrafts

3,427

17,750

Trade creditors

1,153

900

Taxation and social security

5,926

7,096

Other creditors

775

875

11,281

26,621

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans

16,949

-

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2022 and 31 July 2021:

31.7.22

31.7.21

£

£

L J Rowlett

Balance outstanding at start of year

-

9,370

Amounts repaid

-

(9,370

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-