REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2021 |
|
for |
|
Red Ant Solutions Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2021 |
|
for |
|
Red Ant Solutions Limited |
Red Ant Solutions Limited (Registered number: 04712994) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 March 2021 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Chartered Accountants' Report | 2 |
|
Balance Sheet | 3 |
|
Notes to the Financial Statements | 4 |
|
Red Ant Solutions Limited |
|
Company Information |
for the Year Ended 31 March 2021 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
|
Queen Street |
Gomshall |
Surrey |
GU5 9LY |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Red Ant Solutions Limited |
|
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Red Ant Solutions Limited for the year ended 31 March 2021 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
|
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
|
This report is made solely to the Board of Directors of Red Ant Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Red Ant Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Red Ant Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Red Ant Solutions Limited and its Board of Directors, as a body, for our work or for this report. |
|
It is your duty to ensure that Red Ant Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Red Ant Solutions Limited. You consider that Red Ant Solutions Limited is exempt from the statutory audit requirement for the year. |
|
We have not been instructed to carry out an audit or a review of the financial statements of Red Ant Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
|
Queen Street |
Gomshall |
Surrey |
GU5 9LY |
|
|
|
Red Ant Solutions Limited (Registered number: 04712994) |
|
Balance Sheet |
31 March 2021 |
|
31.3.21 | 31.3.20 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
( |
) |
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
7 |
|
|
NET ASSETS/(LIABILITIES) |
|
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
( |
) |
SHAREHOLDERS' FUNDS |
|
( |
) |
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
Red Ant Solutions Limited (Registered number: 04712994) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2021 |
|
1. | STATUTORY INFORMATION |
|
Red Ant Solutions Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
The turnover shown in the profit and loss account represents the value of work undertaken in the year of exclusive Value Added Tax. |
|
Tangible fixed assets |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
|
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
Red Ant Solutions Limited (Registered number: 04712994) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
|
2. | ACCOUNTING POLICIES - continued |
|
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
|
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
|
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2020 |
and 31 March 2021 |
|
|
|
|
DEPRECIATION |
At 1 April 2020 |
and 31 March 2021 |
|
|
|
|
NET BOOK VALUE |
At 31 March 2021 |
|
|
|
|
At 31 March 2020 |
|
|
|
|
|
Included within fixed assets are assets held under hire purchase agreements of £8,295 (2020: £8,295. Depreciation charged on those assets during the year was £nil (2020: £Nil). |
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
VAT |
|
|
Called up share capital not paid |
|
|
|
|
Red Ant Solutions Limited (Registered number: 04712994) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2021 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Tax |
|
|
Other creditors |
|
|
Directors' current accounts |
|
|
Accruals and deferred income |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.21 | 31.3.20 |
£ | £ |
Preference shares |
|
|
|
8. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
31.3.21 | 31.3.20 |
£ | £ |
Bank overdrafts |
|
|
Bank loans |
|
|
|
|
|
The bank overdraft is secured by a charge over the book debts of the company. |
|
9. | RELATED PARTY DISCLOSURES |
|
The directors are also directors and shareholders of Quantum Marketing Services Limited and Quantum Marketing Communications Limited. |
|
During the year Quantum Marketing Services Limited recharged the company for costs including rent and staff costs, the company also made sales to the related party. |
|
The overall balance due from Quantum Marketing Services at the year end totalled £300,972 (2020: £112,904). |
|
During the year Quantum Marketing Communications recharged the company for costs including digital marketing and general expenses. |
|
The overall balance due to Quantum Marketing Communications at the year end totalled £54,000 (2020: nil). |
|
10. | ULTIMATE CONTROLLING PARTY |
|
The company was under the control of the directors throughout the current and previous year by virtue of their shareholdings. |
|
11. | GOING CONCERN |
|
The director believes that the company will continue to trade for the foreseeable future and will be able to meet its liabilities. |