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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2017 |
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RED ROSE LAUNDERETTE LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2017 |
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FOR |
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RED ROSE LAUNDERETTE LIMITED |
RED ROSE LAUNDERETTE LIMITED (REGISTERED NUMBER: 06125807) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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RED ROSE LAUNDERETTE LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31ST MARCH 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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327 Clifton Drive South |
Lytham St Annes |
Lancashire |
FY8 1HN |
RED ROSE LAUNDERETTE LIMITED (REGISTERED NUMBER: 06125807) |
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BALANCE SHEET |
31ST MARCH 2017 |
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31/3/17 | 31/3/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 3 |
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Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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RED ROSE LAUNDERETTE LIMITED (REGISTERED NUMBER: 06125807) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31ST MARCH 2017 |
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1. | STATUTORY INFORMATION |
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Red Rose Launderette Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
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At the year end the company reports a negative amount of shareholders funds amounting to £3,245. Support has |
however been provided by a loan from a director who has indicated that this support will continue for the |
foreseeable future and as a result it is considered that the company will be able to meet all of its liabilities as and |
when they fall due. The director, having considered the above and after making due enquiries, will continue to |
adopt the going concern basis in preparing the financial statements which assumes that the company will |
continue in operation for the foreseeable future. |
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Turnover |
Turnover represents income receivable in the year, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, was amortised evenly |
over its estimated useful life of 10 years to 31 March 2016 where it was written off in full to profit and loss at the |
date of transition to FRS 102. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets and depreciation |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Tangible fixed assets are initially recorded at historic cost and stated in the balance sheet at their net book value, |
being the amount of capital expenditure less accumulated depreciation. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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RED ROSE LAUNDERETTE LIMITED (REGISTERED NUMBER: 06125807) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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3. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st April 2016 |
and 31st March 2017 |
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AMORTISATION |
At 1st April 2016 |
and 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2016 |
and 31st March 2017 |
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DEPRECIATION |
At 1st April 2016 |
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Charge for year |
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At 31st March 2017 |
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NET BOOK VALUE |
At 31st March 2017 |
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At 31st March 2016 |
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RED ROSE LAUNDERETTE LIMITED (REGISTERED NUMBER: 06125807) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31ST MARCH 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/17 | 31/3/16 |
£ | £ |
Tax |
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Directors' current accounts | 5,145 | 3,810 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/17 | 31/3/16 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1st April 2016 | ( |
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Profit for the year |
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Dividends | ( |
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At 31st March 2017 | ( |
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9. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £10,000 (2016 - £10,000) were paid to the director . |
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Within creditors is £5,145, (2016:£3,810) due to the director. |
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10. | CONTROLLING PARTY |
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The company is controlled by the director Mr C D Naftel by virtue of his 100% holding of the ordinary issued |
share capital. |
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11. | FIRST YEAR ADOPTION |
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The financial statements for the year ended 31st March 2017 represents the first accounting period under which |
financial statements have been prepared under FRS102 section 1A. The financial statements for the year ended |
31st March 2016 were prepared in accordance with United Kingdom Generally Accepted Accounting Practice |
applicable to smaller entities, otherwise referred to as the Financial Report Standard for Smaller Entities (FRSSE |
2008). In order to prepare the financial statements for the current year it has therefore been necessary to restate |
the comparative years figures under FRS102 section 1A and the notes to the financial statements detailing any |
transitional adjusting entries between the two methods. |