RED TOP RESOURCES LIMITED

Company Registration Number:
04354528 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2018

Period of accounts

Start date: 01 June 2017

End date: 31 May 2018

RED TOP RESOURCES LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2018

Balance sheet
Notes

RED TOP RESOURCES LIMITED

Balance sheet

As at 31 May 2018


Notes

2018

2017


£

£
Fixed assets
Tangible assets: 3 2,798 2,860
Total fixed assets: 2,798 2,860
Current assets
Debtors:   14,224 17,461
Cash at bank and in hand: 513 20,088
Total current assets: 14,737 37,549
Creditors: amounts falling due within one year:   (17,485) (36,246)
Net current assets (liabilities): (2,748) 1,303
Total assets less current liabilities: 50 4,163
Total net assets (liabilities): 50 4,163
Capital and reserves
Called up share capital: 101 101
Profit and loss account: (51) 4,062
Shareholders funds: 50 4,163

The notes form part of these financial statements

RED TOP RESOURCES LIMITED

Balance sheet statements

For the year ending 31 May 2018 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 09 November 2018
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 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

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 2018

2. Employees

2018 2017
Average number of employees during the period 1 1

RED TOP RESOURCES LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2018

3. Tangible Assets

Total
Cost £
At 01 June 2017 19,176
Additions 871
At 31 May 2018 20,047
Depreciation
At 01 June 2017 16,316
Charge for year 933
At 31 May 2018 17,249
Net book value
At 31 May 2018 2,798
At 31 May 2017 2,860