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Company Registration No. 11869157 (England and Wales)
Restronauts Inc. Limited Unaudited accounts for the year ended 31 March 2023
Restronauts Inc. Limited Unaudited accounts Contents
Page
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Restronauts Inc. Limited Company Information for the year ended 31 March 2023
Directors
Mr Riyan Durrani Mr Anas Ali
Company Number
11869157 (England and Wales)
Registered Office
C/o Accountancy Managers Limited 164 New Cavendish Street London W1W 6YT United Kingdom
Accountants
Accountancy Managers Limited 164 New Cavendish Street London W1W 6YT
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Restronauts Inc. Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
7,500 
8,750 
Tangible assets
63,333 
82,415 
70,833 
91,165 
Current assets
Inventories
1,850 
3,570 
Debtors
42,065 
19,858 
Cash at bank and in hand
272,593 
243,343 
316,508 
266,771 
Creditors: amounts falling due within one year
(96,620)
(81,553)
Net current assets
219,888 
185,218 
Total assets less current liabilities
290,721 
276,383 
Creditors: amounts falling due after more than one year
(205,000)
(190,000)
Net assets
85,721 
86,383 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
85,621 
86,283 
Shareholders' funds
85,721 
86,383 
For the year ending 31 March 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2023 and were signed on its behalf by
Mr Anas Ali Director Company Registration No. 11869157
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Restronauts Inc. Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Restronauts Inc. Limited is a private company, limited by shares, registered in England and Wales, registration number 11869157. The registered office is C/o Accountancy Managers Limited, 164 New Cavendish Street, London, W1W 6YT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation to be amortised over the 10 years equally.
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Restronauts Inc. Limited Notes to the Accounts for the year ended 31 March 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Shortlease hold over the life of lease i.e. 15 years
Plant & machinery
20% on costs
Fixtures & fittings
20% on costs
Computer equipment
25% on costs
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2022
12,500 
At 31 March 2023
12,500 
Amortisation
At 1 April 2022
3,750 
Charge for the year
1,250 
At 31 March 2023
5,000 
Net book value
At 31 March 2023
7,500 
At 31 March 2022
8,750 
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Restronauts Inc. Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
27,892 
47,778 
47,035 
941 
123,646 
Additions
- 
- 
- 
2,635 
2,635 
At 31 March 2023
27,892 
47,778 
47,035 
3,576 
126,281 
Depreciation
At 1 April 2022
3,720 
18,212 
18,814 
485 
41,231 
Charge for the year
1,860 
9,556 
9,407 
894 
21,717 
At 31 March 2023
5,580 
27,768 
28,221 
1,379 
62,948 
Net book value
At 31 March 2023
22,312 
20,010 
18,814 
2,197 
63,333 
At 31 March 2022
24,172 
29,566 
28,221 
456 
82,415 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
3,603 
Accrued income and prepayments
7,898 
7,089 
Other debtors
25,000 
- 
32,898 
10,692 
Amounts falling due after more than one year
Other debtors
9,167 
9,166 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
37,314 
19,575 
Trade creditors
4,196 
7,741 
Taxes and social security
21,924 
35,313 
Other creditors
11,831 
156 
Loans from directors
18,800 
11,750 
Accruals
2,555 
7,018 
96,620 
81,553 
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Restronauts Inc. Limited Notes to the Accounts for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
205,000 
190,000 
Creditors amount falling due more than one year includes a net sum of £205,000 (2022: £190,000) invested by the directors; Riyan Durrani's loan account: Mr Riyan Durrani, the director of the company has invested £102,500 (2022: £95,000) via director's loans up to the period ended 31 March 2023 other than the share capital. The loan is interest-free, unsecured & subordinated in favour of third-party creditors of the company. Anas Ali's loan account: Mr Anas Ali, the director of the company has invested £102,500 (2022: £95,000) via director's loans up to the period ended 31 March 2023 other than the share capital. The loan is interest-free, unsecured & subordinated in favour of third-party creditors of the company.
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
Included in other creditors due less than one year are the amounts of £9,400 (2022: £5,875) and £9,400 (2022: £5,875) owed to Mr Riyan Durrani and Mr Anas Ali respectively. During the year dividends of £68,800 (2022: £75,000) were distributed equally to the directors. Included in other creditors due more than one year are the amounts of £102,500 (2022: £95,000) and £102,500 (2022: £95,000) owed to Mr Riyan Durrani and Mr Anas Ali respectively.
11
Controlling party
Both directors are regarded as the ultimate controlling party for the current and preceding period and as such, there is no single controlling party.
12
Average number of employees
During the year the average number of employees was 22 (2022: 25).
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