Company Registration No. 08929433 (England and Wales)
RED BRICK IT SOLUTIONS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2016
RED BRICK IT SOLUTIONS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
RED BRICK IT SOLUTIONS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
29,254
-
Current assets
Debtors
260,221
10
Cash at bank and in hand
450
-
260,671
10
Creditors: amounts falling due within one year
3
(280,888)
-
Net current liabilities/(assets)
(20,217)
10
Total assets less current liabilities
9,037
10
Creditors: amounts falling due after more than one year
4
(2,289)
-
Provisions for liabilities
(4,594)
-
2,154
10
Capital and reserves
Called up share capital
5
10
10
Profit and loss account
2,144
-
Shareholders' funds
2,154
10
For the financial period ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 27 April 2017
E Bush
Director
Company Registration No. 08929433
RED BRICK IT SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JULY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements have been prepared on a going concern basis which assumes the company will continue to trade. The validity of this assumption is dependent upon the continuing support of its creditors.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% per annum straight line
Fixtures, fittings & equipment
20% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
RED BRICK IT SOLUTIONS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
-
Additions
38,933
At 31 July 2016
38,933
Depreciation
At 1 April 2015
-
Charge for the period
9,679
At 31 July 2016
9,679
Net book value
At 31 July 2016
29,254
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £170,191 (2015 - £0).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £2,289 (2015 - £0).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10 Ordinary of £1 each
10
10
6
Related party relationships and transactions
The following directors had loans during the period. The movement on these loans are as follows:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
E Bush
3.00
-
111,016
1,358
35,857
76,517
-
111,016
1,358
35,857
76,517