Redloan Limited - Accounts to registrar - small 17.1
Redloan Limited - Accounts to registrar - small 17.1
| REGISTERED NUMBER: |
| Financial Statements |
| For The Year Ended 31 January 2017 |
| for |
| Redloan Limited |
| T/A |
| The Mobility Centre |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Contents of the Financial Statements |
| For The Year Ended 31 January 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Redloan Limited |
| T/A The Mobility Centre |
| Company Information |
| For The Year Ended 31 January 2017 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 91 Alexander Street |
| Airdrie |
| North Lanarkshire |
| ML6 0BD |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Balance Sheet |
| 31 January 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Balance Sheet - continued |
| 31 January 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
| The financial statements were approved by the director on |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Notes to the Financial Statements |
| For The Year Ended 31 January 2017 |
| 1. | STATUTORY INFORMATION |
| Redloan Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates. The |
| items in the financial statements where these judgements and estimates have been made are described below: |
| Estimated useful lives and residual values of fixed assets |
| As described under the Tangible Fixed Asset heading of this accounting policies note, depreciation of tangible |
| fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. |
| Estimated useful lives and residual values are reviewed annually and revised as applicable. The reviews take into |
| account estimated useful lives used by other companies operating within the same sector and actual asset lives |
| and residual values as evidenced by disposals during current and prior accounting periods. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value |
| added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
| Sale of goods |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods |
| has transferred to the buyer. |
| Rendering of services |
| Revenue from agreement to provide services is recognised in the period in which the services are provided when |
| all of the following conditions are satisfied: |
| - the amount of revenue can be measured reliably; |
| - it is probable that the company will receive the consideration due under the agreement. |
| Tangible fixed assets |
| Motor vehicles | - |
| Computer equipment | - |
| At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
| have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
| affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
| carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
| immediately in profit or loss. |
| If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of |
| its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss |
| been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit |
| or loss. |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 January 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to |
| complete and sell. Cost is based on the cost of purchase on a first in, first out basis. |
| At each reporting date, inventories are assessed for impairment. If inventory is impaired, the carrying amount is |
| reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in |
| profit or loss. |
| 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 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. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
| of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than 3 months |
| from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of |
| change in value. |
| In the statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on |
| demand and form an integral part of the company's cash management. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank |
| loans and directors' loans. |
| Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, |
| and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on |
| demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other |
| consideration expected to be paid or received. |
| Dividends |
| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised |
| when paid. Final equity dividends are recognised when approved by the shareholders at an annual general |
| meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest |
| payable. |
| Redloan Limited (Registered number: SC370742) |
| T/A The Mobility Centre |
| Notes to the Financial Statements - continued |
| For The Year Ended 31 January 2017 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 January 2017 |
| DEPRECIATION |
| At 1 February 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 January 2017 |
| NET BOOK VALUE |
| At 31 January 2017 |
| At 31 January 2016 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | ULTIMATE CONTROLLING PARTY |
| The controlling party is S T Laughlin. |
| 8. | FIRST YEAR ADOPTION |
| The policies applied under the company's previous accounting framework are not materially different to FRS |
| 102. |
| As a result of the transition to FRS 102, deferred tax of £1,761 has been recognised at 1 February 2015, with a |
| further £2,956 provided at 31 January 2016. |
| The date of transition to FRS 102 was 1 February 2015. |