REDSOCK_MANAGEMENT_LIMITE - Accounts

REDSOCK MANAGEMENT LIMITED - Company Information

Print Friendly Version

Company Registration number 05479819

REDSOCK MANAGEMENT LIMITED

Abbreviated Accounts

For the year ended 31 August 2015

REDSOCK MANAGEMENT LIMITED

Financial statements for the year ended 31 August 2015

Contents

Pages

Balance sheet

Notes to the financial statements

2-3

REDSOCK MANAGEMENT LIMITED

Abbreviated balance sheet as at 31 August 2015

2015

2014

Notes

Fixed assets

Tangible assets

109

Investments

565

674

Current assets

Debtors

18,894

Cash at bank and in hand

58,440

135,779

77,334

135,826

Creditors:

amounts falling due within one year

(19,189)

(28,409)

Net current assets

58,145

107,417

Total assets less current liabilities

58,199

108,091

Provision for liabilities

(11)

(22)

58,188

108,069

Capital and reserves

Called up share capital

Profit and loss account

58,186

108,067

Shareholders' funds

58,188

108,069

For the financial year ended 31 August 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with Section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the board of directors on 8 February 2016 and signed on its behalf.

C M Jones - Director

Company Registration No: 05479819

The notes on pages 2 to 3 form part of these financial statements.

REDSOCK MANAGEMENT LIMITED

Notes to the abbreviated accounts for the year ended 31 August 2015

Accounting policies

Basis of accounting

The financial statements are prepared on the historical cost basis of accounting and have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax supplied to customers during the year. Income is recognised when services are completed to the extent that the customer has an obligation to pay all or part of the contract sums.

Depreciation of tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the full cost or valuation less estimated residual value of each asset over its estimated useful life. The principal rates in use are:

Equipment, fixtures and fittings

25% on cost

Deferred taxation

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

A deferred tax asset is regarded as recoverable and therefore recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on a nondiscounted basis, at the average tax rates that are expected to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currency translation

Assets and liabilities denominated in foreign currencies are translated into sterling at the rates ruling at the year end. All gains and losses are dealt with in the profit and loss account.

Investments

Investments are held at market value.

REDSOCK MANAGEMENT LIMITED

Notes to the abbreviated accounts for the year ended 31 August 2015 (continued)

Fixed assets

Tangible

fixed

Investments

assets

Total

Cost:

At 1 September 2014

565

1,965

2,530

Disposals

(565)

At 31 August 2015

1,965

Depreciation:

At 1 September 2014

1,856

Provision for the year

At 31 August 2015

1,911

Net book value:

At 31 August 2015

At 31 August 2014

565

109

674

Investments

Listed

investments

Cost:

At 1 September 2014

565

Disposals

(565)

At 31 August 2015

Net book value at 31 August 2015

Called-up share capital

2015

2014

2015

2014

Allotted, called up and fully paid

Equity shares:

Ordinary shares of £1 each

Controlling party

The company is controlled by the directors, C M Jones & M S Jones.

Transactions with directors

Advances and credits to directors

Interest

Opening

Amounts

Interest

Amounts

Closing

Rate

Balance

Advanced

Charged

Repaid

Balance

Director's loan

(6,303)

60,000

1,287

(55,208)

(224)