Reds10 (UK) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05934862 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2014

for

Reds10 (UK) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr P Ruddick

Mr O Brown

SECRETARY:

Mrs A Ruddick

REGISTERED OFFICE:

The Old Church Quicks Road

Wimbledon

London

SW19 1EX

REGISTERED NUMBER:

05934862 (England and Wales)

ACCOUNTANTS:

FPSS Limited

Business Advisers and Accountants

80 Coleman Street

London

EC2R 5BJ

FIXED ASSETS

Tangible assets

2

38,651

53,690

Investments

3

200,357

-

239,008

53,690

CURRENT ASSETS

Debtors

622,123

439,248

Cash at bank

145,697

682,418

767,820

1,121,666

CREDITORS

Amounts falling due within one year

514,907

741,002

NET CURRENT ASSETS

252,913

380,664

TOTAL ASSETS LESS CURRENT LIABILITIES

491,921

434,354

CAPITAL AND RESERVES

Called up share capital

4

2

2

Profit and loss account

491,919

434,352

SHAREHOLDERS' FUNDS

491,921

434,354

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 December 2014 and were signed on its behalf by:

Mr P Ruddick - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in

the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for

on-going services is reconsigned by reference to the stage of completions.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period

of the lease.

Fixed assets investments

Fixed assets investment is stated at cost less provision for any permanent diminution in value.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

135,869

Additions

1,229

At 31 March 2014

137,098

DEPRECIATION

At 1 April 2013

82,179

Charge for year

16,268

At 31 March 2014

98,447

NET BOOK VALUE

At 31 March 2014

38,651

At 31 March 2013

53,690

3.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2014

2013

£

£

Investments in LLP

200,357

-

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

20

Ordinary

£0.1

2

2

5.	RELATED PARTY DISCLOSURES

No dividend has been declared or paid during the year.

At the balance sheet date, Reds 10 (UK) Limited owes £56,339 (2013 : £39,338) to the director Mr P Ruddick.

At the Balance Sheet date, Reds 10 (UK) Limited was owes £249,663 (2013 : £41,587 owed to) from Reds 10

Trading Limited.

During the year, the company purchased goods amounting to £505,000 (2013: £1,276,500) from Pentacle

Solutions (UK) Limited, consultancy services of £222,500 (2013: £Nil) from Reds 10 LLP, a business under the

control of Mr P Ruddick.

Additionally company has provided consultancy services amounting to £6,548 (2013: £8,354) to Reds 10 Trading

Limited and sold goods amounting Nil (2013: £280,000) to Pentacle Solutions (UK) Limited.

These business are controlled by Mr P Ruddick or a member of his immediate family.

6.	CONTROLLING PARTY

The controlling party is Mr P Ruddick.