RED TOP RESOURCES LIMITED

Company Registration Number:
04354528 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2020

Period of accounts

Start date: 01 June 2019

End date: 31 May 2020

RED TOP RESOURCES LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2020

Balance sheet
Notes

RED TOP RESOURCES LIMITED

Balance sheet

As at 31 May 2020


Notes

2020

2019


£

£
Fixed assets
Tangible assets: 3 2,351 2,099
Total fixed assets: 2,351 2,099
Current assets
Debtors:   4,086 10,443
Cash at bank and in hand: 10,104 2,253
Total current assets: 14,190 12,696
Creditors: amounts falling due within one year:   (15,165) (14,555)
Net current assets (liabilities): (975) (1,859)
Total assets less current liabilities: 1,376 240
Total net assets (liabilities): 1,376 240
Capital and reserves
Called up share capital: 101 101
Profit and loss account: 1,275 139
Shareholders funds: 1,376 240

The notes form part of these financial statements

RED TOP RESOURCES LIMITED

Balance sheet statements

For the year ending 31 May 2020 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 September 2020
and signed on behalf of the board by:

Name: MR M CASE
Status: Director

The notes form part of these financial statements

RED TOP RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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 the sale of goods is recognised when the significant risks and rewards of ownership of thegoods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can bemeasured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.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 recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Land and buildings 20% straight lineFixtures, fittings & equipment 25% reducing balanceThe gain or loss arising on the disposal of an asset is determined as the difference between the saleproceeds and the carrying value of the asset, and is credited or charged to profit or loss.

RED TOP RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2020

2. Employees

2020 2019
Average number of employees during the period 1 1

RED TOP RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2020

3. Tangible Assets

Total
Cost £
At 01 June 2019 20,047
Additions 1,035
At 31 May 2020 21,082
Depreciation
At 01 June 2019 17,948
Charge for year 783
At 31 May 2020 18,731
Net book value
At 31 May 2020 2,351
At 31 May 2019 2,099