Red Miracle Ltd
Red Miracle Ltd
Registered number: 4166732
Unaudited Financial Statements
For The Year Ended 31 March 2017
Prestigious Accountancy Services ltd
48 Brent Road Southall
Southall
London
Middlesex
UB2 5JY
Red Miracle Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—7 |
Red Miracle Ltd
Balance Sheet
As at
31 March 2017
Balance Sheet
Registered number:
4166732
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Stocks | 6 |
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| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 9 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 201,046 | 180,041 | |||
Page 1
Red Miracle Ltd
Balance Sheet (continued)
As at
31 March 2017
Directors' responsibilities:
-
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their 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. - The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 4 to 7 form part of these financial statements.
Page 2
Red Miracle Ltd
Statement of Changes in Equity
For The Year Ended 31 March 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 April 2015 |
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139,810 |
| Profit for the year and total comprehensive income | - |
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49,487 |
| Dividends paid | - | (9,256) | (9,256) |
| As at 31 March 2016 and 1 April 2016 |
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180,041 |
| Profit for the year and total comprehensive income | - |
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21,005 |
| As at |
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201,046 |
Page 3
Red Miracle Ltd
Notes to the Unaudited Accounts
For The Year Ended 31 March 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
4.
Intangible Assets
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at |
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| Amortisation | |||
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| Net Book Value | |||
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Page 4
Red Miracle Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
5.
Tangible Assets
| Land & Property | |||||
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| Leasehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
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| Additions |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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6.
Stocks
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Closing Stock | 3,842 | 3,724 | |
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7.
Debtors
| 2017 | 2016 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Page 5
Red Miracle Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
8.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| PAYE |
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| VAT (Current liabilities - creditors < 1 year) |
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| Other creditors |
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| Pension Funds |
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| Accruals and deferred income (Current liabilities - creditors < 1 year) |
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| Directors' loan accounts |
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9.
Creditors: Amounts Falling Due After More Than One Year
| 2017 | 2016 | ||
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| £ | £ | ||
| Bank loans |
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11.
Transactions With and Loans to Directors
Dividends paid to directors
12.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| - | 9,256 | ||
Page 6
Red Miracle Ltd
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 March 2017
13.
Related Party Transactions
Red Miracle Cranford ltd
Arvinder Salariya holds material interest in C extech C heltenham ltd
£30,000 is payable to Red Miracle C ranford ltd.
Red Miracle Wokingham Ltd
Arvinder Salariya hold material interest in Red Miracle Wokingham Ltd.
£116,000 is payable to Red Miracle Wokingham Ltd
Red Miracle Shrewsbury Ltd
Arvinder Salariya holds Material Interest in Red Miracle Shrewsbury Ltd
£30,000 is Receivable from Red Miracle Shrewsbury Ltd.
Cextech Slough ltd
Arvinder Salariya holds material interest in C extech Slough ltd
£20,000 is Receivable from Cextech Slough ltd.
Red Miracle Management Ltd
Arvinder Salariya and Baljeet Salariya hold material interest in Red Miracle Management Ltd
£235,000 is Receivable from Red Miracle Management Ltd
Red Miracle Hereford Ltd
Arvinder Salariya and Baljeet Salariya hold material interest in Red Miracle Management Ltd
£26000 is Payable to Red Miracle Hereford Ltd.
14.
Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
15.
General Information
Red Miracle Ltd Registered number 4166732 is a limited by shares company incorporated in England & Wales. The Registered Office is 138 Wood Lane Isleworth, London, Middlesex, TW7 5EQ.
Page 7