Red Miracle (Hereford) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06042243 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

RED MIRACLE (HEREFORD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Salariya

Mrs B Salariya

SECRETARY:

Mrs B Salariya

REGISTERED OFFICE:

38A High Street

Northwood

Middlesex

HA6 1BN

REGISTERED NUMBER:

06042243 (England and Wales)

ACCOUNTANTS:

Sage & Co

Chartered Accountants

38A High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

115,073

134,188

115,073

134,188

CURRENT ASSETS

Stocks

6,544

8,220

Debtors

6

485,921

458,492

Cash at bank and in hand

207,841

163,088

700,306

629,800

CREDITORS

Amounts falling due within one year

7

171,433

167,220

NET CURRENT ASSETS

528,873

462,580

TOTAL ASSETS LESS CURRENT LIABILITIES

643,946

596,768

CREDITORS

Amounts falling due after more than one year

8

(55,228

)

(98,563

)

PROVISIONS FOR LIABILITIES

(21,000

)

(25,000

)

NET ASSETS

567,718

473,205

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

567,618

473,105

SHAREHOLDERS' FUNDS

567,718

473,205

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 applicable to companies subject to the small companies regime.

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 20 December 2018 and were signed on its behalf by:

A Salariya - Director

1.	STATUTORY INFORMATION

Red Miracle (Hereford) Limited 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.

Goodwill

Goodwill purchased on acquisition of a business is included in fixed assets and amortised over

10 years in equal annual instalments. The directors consider this period to be a reasonable

estimate of the economic life over which the value of the acquired business would be expected

to exceed the values of its identifiable assets and liabilities.

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.

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

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

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 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.

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 36 (2017 - 40 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

100,000

AMORTISATION

At 1 April 2017

and 31 March 2018

100,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2017

264,559

845

265,404

Additions

1,283

-

1,283

Disposals

-

(845

)

(845

)

At 31 March 2018

265,842

-

265,842

DEPRECIATION

At 1 April 2017

130,462

754

131,216

Charge for year

20,307

-

20,307

Eliminated on disposal

-

(754

)

(754

)

At 31 March 2018

150,769

-

150,769

NET BOOK VALUE

At 31 March 2018

115,073

-

115,073

At 31 March 2017

134,097

91

134,188

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

25,910

18,137

Other debtors

460,011

440,355

485,921

458,492

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

16,025

15,491

Trade creditors

30,014

31,489

Taxation and social security

91,029

87,125

Other creditors

34,365

33,115

171,433

167,220

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

-

16,595

Other creditors

55,228

81,968

55,228

98,563

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

16,025

32,086

The bank loans are secured by a fixed and floating charge over company assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1.00

100

100

11.	OTHER FINANCIAL COMMITMENTS

At the year end, the company had total commitments under operating leases over the remaining

life of those leases of approximately £139,500 (2017: £153,000).