Company Registration No. 04206581 (England and Wales)
RED WHITE & GREEN LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
PAGES FOR FILING WITH REGISTRAR
RED WHITE & GREEN LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
RED WHITE & GREEN LTD
BALANCE SHEET
AS AT 30 APRIL 2019
30 April 2019
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
33,913
45,217
Investments
4
1,176,853
1,490,926
1,210,766
1,536,143
Current assets
Debtors
5
126,023
99,985
Cash at bank and in hand
9,100
28,691
135,123
128,676
Creditors: amounts falling due within one year
6
(27,679)
(190,315)
Net current assets/(liabilities)
107,444
(61,639)
Total assets less current liabilities
1,318,210
1,474,504
Capital and reserves
Called up share capital
7
165
165
Profit and loss reserves
1,318,045
1,474,339
Total equity
1,318,210
1,474,504

The director of the company has elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his 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 year 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 and signed by the director and authorised for issue on 27 January 2020
Mr E Holmes
Director
Company Registration No. 04206581
- 1 -
RED WHITE & GREEN LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
1
Accounting policies
Company information

Red White & Green Ltd is a private company limited by shares incorporated in England and Wales. The registered office is c/o Alliotts, Friary Court, 13-21 High Street, Guildford, Surrey, GU1 3DL.

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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. The principal accounting policies adopted are set out below.

1.2
Turnover
- 2 -

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 the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured 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 recover ed .

1.3
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.

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:

Fixtures and fittings
25% reducing balance
Computers
25% reducing balance

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 .

RED WHITE & GREEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
1
Accounting policies
(Continued)
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company . Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities .

1.5
Impairment of fixed assets
- 3 -

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

RED WHITE & GREEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
1
Accounting policies
(Continued)
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally 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.

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
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2018 - 2).

- 4 -
RED WHITE & GREEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2018 and 30 April 2019
401,350
Depreciation and impairment
At 1 May 2018
356,133
Depreciation charged in the year
11,304
At 30 April 2019
367,437
Carrying amount
At 30 April 2019
33,913
At 30 April 2018
45,217
4
Fixed asset investments
2019
2018
£
£
Investments
1,176,853
1,490,926
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 May 2018
1,490,926
Disposals
(314,073)
At 30 April 2019
1,176,853
Carrying amount
At 30 April 2019
1,176,853
At 30 April 2018
1,490,926
- 5 -
RED WHITE & GREEN LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2019
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
3,230
25,783
Other debtors
122,793
74,202
126,023
99,985
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
5,104
-
Corporation tax
11,676
-
Other taxation and social security
-
4,021
Other creditors
10,899
186,294
27,679
190,315
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
165 Ordinary shares of £1 each
165
165
- 6 -
2019-04-30 2018-05-01 false 28 January 2020 CCH Software CCH Accounts Production 2019.301 No description of principal activity Mr E Holmes 04206581 2018-05-01 2019-04-30 04206581 2019-04-30 04206581 2018-04-30 04206581 core:OtherPropertyPlantEquipment 2019-04-30 04206581 core:OtherPropertyPlantEquipment 2018-04-30 04206581 core:CurrentFinancialInstruments core:WithinOneYear 2019-04-30 04206581 core:CurrentFinancialInstruments core:WithinOneYear 2018-04-30 04206581 core:CurrentFinancialInstruments 2019-04-30 04206581 core:CurrentFinancialInstruments 2018-04-30 04206581 core:ShareCapital 2019-04-30 04206581 core:ShareCapital 2018-04-30 04206581 core:RetainedEarningsAccumulatedLosses 2019-04-30 04206581 core:RetainedEarningsAccumulatedLosses 2018-04-30 04206581 bus:Director1 2018-05-01 2019-04-30 04206581 core:FurnitureFittings 2018-05-01 2019-04-30 04206581 core:ComputerEquipment 2018-05-01 2019-04-30 04206581 core:OtherPropertyPlantEquipment 2018-04-30 04206581 core:OtherPropertyPlantEquipment 2018-05-01 2019-04-30 04206581 core:WithinOneYear 2019-04-30 04206581 core:WithinOneYear 2018-04-30 04206581 bus:PrivateLimitedCompanyLtd 2018-05-01 2019-04-30 04206581 bus:SmallCompaniesRegimeForAccounts 2018-05-01 2019-04-30 04206581 bus:FRS102 2018-05-01 2019-04-30 04206581 bus:AuditExemptWithAccountantsReport 2018-05-01 2019-04-30 04206581 bus:FullAccounts 2018-05-01 2019-04-30 xbrli:pure xbrli:shares iso4217:GBP