Red Snapper Learning Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05943738 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th September 2017

for

Red Snapper Learning Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Jerrold

H J Jerrold

SECRETARY:

H J Jerrold

REGISTERED OFFICE:

3rd Floor Octavia House

50 Banner Street

London

EC1Y 8ST

REGISTERED NUMBER:

05943738 (England and Wales)

ACCOUNTANTS:

Sigma Partners

Gloucester House

Church Walk

Burgess Hill

West Sussex

RH15 9AS

FIXED ASSETS

Intangible assets

4

1,288

2,255

Tangible assets

5

4,696

6,265

5,984

8,520

CURRENT ASSETS

Debtors

6

680,777

403,450

Cash at bank

53,525

49,542

734,302

452,992

CREDITORS

Amounts falling due within one year

7

576,400

396,497

NET CURRENT ASSETS

157,902

56,495

TOTAL ASSETS LESS CURRENT LIABILITIES

163,886

65,015

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

162,886

64,015

SHAREHOLDERS' FUNDS

163,886

65,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8th February 2018 and were signed on its behalf by:

H J Jerrold - Director

1.	STATUTORY INFORMATION

Red Snapper Learning Ltd is a private company, limited by shares , registered in England and Wales.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st October 2016

and 30th September 2017

4,837

AMORTISATION

At 1st October 2016

2,582

Charge for year

967

At 30th September 2017

3,549

NET BOOK VALUE

At 30th September 2017

1,288

At 30th September 2016

2,255

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st October 2016

and 30th September 2017

9,565

13,069

22,634

DEPRECIATION

At 1st October 2016

4,886

11,483

16,369

Charge for year

1,171

398

1,569

At 30th September 2017

6,057

11,881

17,938

NET BOOK VALUE

At 30th September 2017

3,508

1,188

4,696

At 30th September 2016

4,679

1,586

6,265

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

241,515

305,401

Other debtors

439,262

98,049

680,777

403,450

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

296,912

238,358

Taxation and social security

185,758

83,071

Other creditors

93,730

75,068

576,400

396,497

8.	RELATED PARTY DISCLOSURES

Overheads amounting to £84,978 were charged by Red Snapper Recruitment Ltd, a company under

common control. Such charges were on an arms length basis and at the balance sheet date an amount

of £269,419 was included within trade creditors.

The company was also owed an interest free working capital loan from Red Snapper Recruitment Ltd

which at the balance sheet date stood at £345,000.

The company also made sales to Red Snapper Recruitment during the year amounting to £85,240.

These sales were made on an arm's length basis and at the balance sheet date an amount of £2,348 was

included within trade debtors.

Purchases and re-charges of £8,000 were charged by Red Snapper Media Ltd, a company under

common control. These were charged on an arm's length basis and at the balance sheet date an amount

of £24,461 was included within trade creditors.

Sales and re-charges of 3,205 were charged to Red Snapper Media Ltd, on an arm's length basis, and

at the balance sheet date an amount of £3,363 was included within trade debtors.

The company also owed an interest free working capital loan to Red Snapper Media Ltd which at the

balance sheet date stood at £68,000.

An amount of £90,905 was owed by Red Snapper Training Ltd , a company under common control, as

at the balance sheet date.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M Jerrold.