Red Lion PR Limited
Unaudited Financial Statements
For the period ended 1 April 2022
For Filing with Registrar
Company Registration No. 09491644 (England and Wales)
Red Lion PR Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Red Lion PR Limited
Balance Sheet
As at 1 April 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,379
Current assets
Debtors
4
212,744
268,055
Cash at bank and in hand
48,897
18,530
261,641
286,585
Creditors: amounts falling due within one year
5
(280,325)
(215,923)
Net current (liabilities)/assets
(18,684)
70,662
Net (liabilities)/assets
(17,305)
70,662
Capital and reserves
Called up share capital
6
1
1
Share premium account
5,004
5,004
Profit and loss reserves
(22,310)
65,657
Total equity
(17,305)
70,662
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 1 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 March 2023 and are signed on its behalf by:
P J Gordon-Macintosh
On behalf of Hope and Glory Communications LLP
Company Registration No. 09491644
Red Lion PR Limited
Notes to the Financial Statements
For the period ended 1 April 2022
Page 2
1
Accounting policies
Company information
Red Lion PR Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Spitfire Building, 71 Collier Street, London, United Kingdom, N1 9BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
[ FRS 102
3.10 An entity shall present a complete set of financial statements (including comparative
information as set out in paragraph 3.14) at least annually. When the end of an entity’s
reporting period changes and the annual financial statements are presented for a
period longer or shorter than one year, the entity shall disclose the following:
(a) that fact;
(b) the reason for using a longer or shorter period; and
(c) the fact that comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
]
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Red Lion PR Limited
Notes to the Financial Statements (Continued)
For the period ended 1 April 2022
1
Accounting policies
(Continued)
Page 3
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has only basic financial instruments measured at amortised cost, with no financial
instruments classified as other, or basic financial instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
Red Lion PR Limited
Notes to the Financial Statements (Continued)
For the period ended 1 April 2022
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
2021
Number
Number
Total
8
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021
Additions
1,910
At 1 April 2022
1,910
Depreciation and impairment
At 1 April 2021
Depreciation charged in the period
531
At 1 April 2022
531
Carrying amount
At 1 April 2022
1,379
At 31 March 2021
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
191,135
208,488
Corporation tax recoverable
10,482
Other debtors
11,127
54,563
212,744
263,051
Red Lion PR Limited
Notes to the Financial Statements (Continued)
For the period ended 1 April 2022
Page 5
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
101,330
55,880
Amounts owed to group undertakings
110,025
110,654
Corporation tax
5,232
Other taxation and social security
9,913
11,366
Other creditors
59,057
32,791
280,325
215,923
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
10,000 Ordinary Shares of 0.01p each
10,000
10,000
1
1
1,112 A Ordinary Shares of 0.01p each
1,112
1,112
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-