REGISTERED NUMBER: 09587655 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Red Python Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Solanki

REGISTERED OFFICE:

Congress House

14 Lyon Road

Harrow

Middlesex

HA1 2EN

REGISTERED NUMBER:

09587655 (England and Wales)

FIXED ASSETS

Intangible assets

3

16,000

18,000

CURRENT ASSETS

Stocks

4

1,450

1,350

Debtors

5

6,873

9,811

Cash at bank and in hand

19,619

8,867

27,942

20,028

CREDITORS

Amounts falling due within one year

6

38,988

35,314

NET CURRENT LIABILITIES

(11,046

)

(15,286

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,954

2,714

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

4,854

2,614

SHAREHOLDERS' FUNDS

4,954

2,714

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 February 2018 and were signed by:

P Solanki - Director

1.	STATUTORY INFORMATION

Red Python Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

20,000

AMORTISATION

At 1 June 2016

2,000

Amortisation for year

2,000

At 31 May 2017

4,000

NET BOOK VALUE

At 31 May 2017

16,000

At 31 May 2016

18,000

4.

STOCKS

31.5.17

31.5.16

£

£

Stocks

1,450

1,350

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

5,012

8,807

Other debtors

1,861

1,004

6,873

9,811

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade creditors

37,033

81

Taxation and social security

1,049

2,404

Other creditors

906

32,829

38,988

35,314

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

100

Ordinary Shares

1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director's current account credit balance at the year end was £905 relating to director Prakash Solanki.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P Solanki.