Our Financial Results
Message from our Managing Director, Andrew Gidden
At Red Lion Foods we donate all of our post tax profits to UK military charities, causes and events. This means that from the monies we earn we pay all of our bills including;office rental;telephones;the tax man;our food suppliers and our salaries. Then we make donations and sponsor charity events, making our Gross profit very small in comparison to our turnover. In total since November 2010 when we launched the bsuiness, we've donated over £700,000. This includes our recent donation of £100,000 to Help for Heroes.
Our aim is to continue producing good value, quality foods so that you can come back and say ‘Thank you’ every day. We’d like to be able to raise £1 million every year for these charities, and with the amazing support of Tesco, Sainsburys, Co-Op and Waitrose, and you, we will reach this target.Our financial results run from May to June, and so our latest results are not for a full year, but from our launch in November 2010 to June 2011. In accountancy terms not all of the monies we’ve given to charities and causes are officially donations as the monies have been used to help host events. For example, in 2010 we supported the ForceSelect Foundation with £60,000 to sponsor their Foundation launch event. The Foundation has been created to help a wide range of smaller military charities, and this launch event helped to publicise the Foundations’ aims and start to generate funds for the charities. These type of donations appear in our accounts either as events or marketing activity.
However, other activities are direct donations, such as the £22,000 we donated to Fishing for Forces, with the help of Waitrose and their sales of Red Lion Red Salmon. Between May and Oct 2011 all of the profit from this product went to Fishing for Forces.
Financial Summary for the period ending 30 June 2011
The company was incorporated on 8 March 2010 as Red Lion Foods Ltd. The company commenced trade on 1 November 2010. The figures below represent trade for the period of eight months (November 2010 to June 2011) in which time turnover reached £1,000,000.
|Profit and loss account for the period ended 30 June 2011|
|Cost of Sales||£386,888|
|Administrative Expenses||Includes donations and sponsorships||£617,848|
|Profit on ordinary activities before Taxation||£1,668|
|Tax on profit on ordinary activities||£474|
Profit for the period
See what the charities and causes think of Red Lion in their videos here