R3 Red Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC511482 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

R3 Red Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Dr R W Lucas

M G Rees

M R Robins

REGISTERED OFFICE:

6 Mossland Drive

Hillington Park

Glasgow

G52 4FA

REGISTERED NUMBER:

SC511482 (Scotland)

ACCOUNTANTS:

Campbell Dallas LLP

Chartered Accountants

Titanium 1

King's Inch Place

Renfrew

PA4 8WF

FIXED ASSETS

Intangible assets

5

11,302

Tangible assets

6

34,209

45,511

CURRENT ASSETS

Stocks

7

789,522

Debtors

8

600,754

Cash at bank and in hand

160,159

1,550,435

CREDITORS

Amounts falling due within one year

9

846,777

NET CURRENT ASSETS

703,658

TOTAL ASSETS LESS CURRENT LIABILITIES

749,169

PROVISIONS FOR LIABILITIES

10

6,814

NET ASSETS

742,355

CAPITAL AND RESERVES

Called up share capital

11

2

Retained earnings

12

742,353

SHAREHOLDERS' FUNDS

742,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 18 September 2017 and were signed on its behalf by:

M R Robins - Director

1.	STATUTORY INFORMATION

R3 Red Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Website development is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

12,330

At 31 January 2017

12,330

AMORTISATION

Charge for year

1,028

At 31 January 2017

1,028

NET BOOK VALUE

At 31 January 2017

11,302

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

Additions

24,726

11,593

333

36,652

At 31 January 2017

24,726

11,593

333

36,652

DEPRECIATION

Charge for year

1,648

773

22

2,443

At 31 January 2017

1,648

773

22

2,443

NET BOOK VALUE

At 31 January 2017

23,078

10,820

311

34,209

7.

STOCKS

£

Stocks

765,735

Work-in-progress

23,787

789,522

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

11,425

Amounts owed by group undertakings

479,224

Other debtors

84,399

VAT

14,967

Prepayments and accrued income

10,739

600,754

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

652,660

Social security and other taxes

7,500

Other creditors

38,759

Customers deposits

125,716

Accrued expenses

22,142

846,777

10.	PROVISIONS FOR LIABILITIES

£

Deferred tax

6,814

Deferred

tax

£

Transferred from

Associated company

6,814

Balance at 31 January 2017

6,814

11.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

2

Share capital 1

£1

2

2 Ordinary shares of £1 each were allotted at par during the year.

12.

RESERVES

Retained

earnings

£

Profit for the year

742,353

At 31 January 2017

742,353

13.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

14.	ULTIMATE PARENT COMPANY

Rogers, Rees and Robins Limited is regarded by the directors as being the company's ultimate parent

company.