Refined Investments Limited |
Registered number: |
07508096 |
Balance Sheet |
as at 31 January 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
923 |
|
|
1,384 |
|
Current assets |
Debtors |
4 |
|
39,913 |
|
|
66,394 |
Cash at bank and in hand |
|
|
18,236 |
|
|
710 |
|
|
|
58,149 |
|
|
67,104 |
|
Creditors: amounts falling due within one year |
5 |
|
(65,031) |
|
|
(71,913) |
|
Net current liabilities |
|
|
|
(6,882) |
|
|
(4,809) |
|
Net liabilities |
|
|
|
(5,959) |
|
|
(3,425) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1 |
|
|
1 |
Profit and loss account |
|
|
|
(5,960) |
|
|
(3,426) |
|
Shareholders' funds |
|
|
|
(5,959) |
|
|
(3,425) |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr Tariq Hamid |
Director |
Approved by the board on 19 September 2023 |
|
Refined Investments Limited |
Notes to the Accounts |
for the year ended 31 January 2023 |
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Computer Equipments |
20 % SLM Method |
|
|
Going Concern |
|
The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity. The company director, who is owed by the company will not recall loan owed to him until the company turns into profitability and financially able to repay. Also, the company is in agreement with the creditors and director will continue to provide financial support to the company. |
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Computer Equipments |
Computer Equipments |
£ |
£ |
|
Cost |
|
At 1 February 2022 |
2,308 |
|
At 31 January 2023 |
2,308 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 February 2022 |
924 |
|
Charge for the year |
461 |
|
At 31 January 2023 |
1,385 |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 January 2023 |
923 |
|
At 31 January 2022 |
1,384 |
|
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
39,913 |
|
66,394 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
49,271 |
|
50,000 |
|
Trade creditors |
1,423 |
|
- |
|
Taxation and social security costs |
13,377 |
|
19,505 |
|
Other creditors |
960 |
|
2,408 |
|
|
|
|
|
|
65,031 |
|
71,913 |
|
|
|
|
|
|
|
|
|
|
6 |
Related party transactions |
|
|
Included in the other debtors is an amount of £1,341 owed by the compnay director to the company on which the interest has been charged and tax has been accounted for under S455 of Companies Act 2010 |
|
|
7 |
Other information |
|
|
Refined Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Harrow Business Centre |
|
429-433 Pinner Road |
|
Harrow |
|
England |
|
HA1 4HN |