Registered number
07508096
Refined Investments Limited
Filleted Accounts
For The Year Ended 31 January 2023
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
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