Redseven Marketing Ltd Small abridged accounts
Redseven Marketing Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
08745392
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Accountants
Peartree House
Bolham Lane
Retford
Notts
DN22 6SU
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Abridged Financial Statements |
Year ended 31 December 2016
Contents |
Page |
Director's report |
1 |
Accountants report to the director on the preparation of the unaudited statutory abridged financial statements |
2 |
Statement of income and retained earnings |
3 |
Abridged statement of financial position |
4 |
Notes to the abridged financial statements |
5 |
The following pages do not form part of the abridged financial statements
Detailed abridged income statement |
9 |
Notes to the detailed abridged income statement |
10 |
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Director's Report |
Year ended 31 December 2016
The director presents his report and the unaudited abridged financial statements of the company for the year ended
31 December 2016
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Director
The director who served the company during the year was as follows:
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Small company provisions
This report was approved by the board of directors on
8 March 2017
and signed on behalf of the board by:
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Director |
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Registered office: |
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Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 31 December 2016
Peartree House
Bolham Lane
Retford
Notts
DN22 6SU
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Statement of Income and Retained Earnings |
Year ended 31 December 2016
2016 |
2015 |
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Note |
£ |
£ |
Gross profit |
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Administrative expenses |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
5 |
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– |
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Profit before taxation |
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Tax on profit |
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Profit for the financial year and total comprehensive income |
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Dividends paid and payable |
(
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(
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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All the activities of the company are from continuing operations.
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Abridged Statement of Financial Position |
2016 |
2015 |
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Note |
£ |
£ |
£ |
Current assets
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Member funds |
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Director's responsibilities:
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The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
8 March 2017
, and are signed on behalf of the board by:
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Director |
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Company registration number:
08745392
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Notes to the Abridged Financial Statements |
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 High Street, Old Town, Swindon, SN1 3EP.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.
Judgements and key sources of estimation uncertainty
There are no judgements or estimates affecting these accounts.
Revenue recognition
Income tax
Financial instruments
4.
Staff costs
The average number of persons employed by the company during the year, including the director, amounted to 2 (2015: 2).
5.
Interest payable and similar expenses
2016 |
2015 |
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£ |
£ |
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Interest on banks loans and overdrafts |
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– |
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6.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2016 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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2015 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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(
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(
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7.
Related party transactions
8.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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Management Information |
Year ended 31 December 2016
The following pages do not form part of the abridged financial statements.
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Detailed Abridged Income Statement |
Year ended 31 December 2016
2016 |
2015 |
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£ |
£ |
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Turnover |
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Cost of sales
Purchases |
179,618 |
288,729 |
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Gross profit |
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Overheads
Administrative expenses |
113,642 |
148,285 |
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Operating profit |
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Other interest receivable and similar income |
22 |
39 |
Interest payable and similar expenses |
9 |
– |
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Profit before taxation |
51,374 |
2,685 |
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Notes to the Detailed Abridged Income Statement |
Year ended 31 December 2016
2016 |
2015 |
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£ |
£ |
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Administrative expenses
Directors salaries |
8,770 |
10,450 |
Directors national insurance contributions |
90 |
327 |
Wages and salaries |
24,256 |
39,281 |
Government funding / grants, NIC holiday rebates and Employment allowance |
(1,441) |
(2,491) |
Staff national insurance contributions |
1,966 |
2,937 |
Rent rates and water |
14,751 |
– |
Light and heat |
1,005 |
– |
Insurance |
940 |
1,150 |
Repairs and maintenance (allowable) |
389 |
3,355 |
Cleaning costs |
234 |
974 |
Serviced office expenses |
6,300 |
36,400 |
Travel and subsistence |
2,386 |
3,384 |
Approved Mileage Allowance Payments |
4,821 |
3,944 |
Telephone |
2,040 |
2,556 |
Computerised book keeping expenses |
9,275 |
9,100 |
Printing postage and stationery |
2,324 |
2,881 |
Sundry expenses |
102 |
212 |
Rallies and conferences |
2,982 |
6,837 |
Subscriptions |
333 |
298 |
Advertising |
8,901 |
12,203 |
Entertaining |
11,262 |
8,079 |
Legal and professional fees (allowable) |
1,607 |
– |
Accountancy fees |
6,000 |
6,000 |
Bank charges |
127 |
408 |
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109,420 |
148,285 |
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Other interest receivable and similar income
Bank interest |
22 |
39 |
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Interest payable and similar expenses
Interest on banks loans and overdrafts |
9 |
– |
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