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Registration number: 08390831

Ready Lets Go Ltd

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 28 February 2023

 

Ready Lets Go Ltd

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 6

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ready Lets Go Ltd
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ready Lets Go Ltd for the year ended 28 February 2023 as set out on pages 2 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Ready Lets Go Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Ready Lets Go Ltd and state those matters that we have agreed to state to the Board of Directors of Ready Lets Go Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ready Lets Go Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ready Lets Go Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ready Lets Go Ltd. You consider that Ready Lets Go Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ready Lets Go Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Page Kirk LLP
Chartered accountants and chartered tax advisers
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

6 November 2023

 

Ready Lets Go Ltd

(Registration number: 08390831)
Abridged Balance Sheet as at 28 February 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

6,079

 

-

Current assets

   

 

Cash at bank and in hand

 

21,893

 

23,122

 

Creditors: Amounts falling due within one year

(25,063)

 

(23,074)

 

Net current (liabilities)/assets

   

(3,170)

 

48

Total assets less current liabilities

   

2,909

 

48

Creditors: Amounts falling due after more than one year

 

(1,719)

 

-

Provisions for liabilities

 

(1,155)

 

-

Net assets

   

35

 

48

Capital and reserves

   

 

Called up share capital

1

 

1

 

Profit and loss account

34

 

47

 

Total equity

   

35

 

48

 

Ready Lets Go Ltd

(Registration number: 08390831)
Abridged Balance Sheet as at 28 February 2023

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 November 2023
 

.........................................
Mr J C L Villate
Director

 

Ready Lets Go Ltd

Notes to the Abridged Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
108 Flatts Lane
Calverton
Nottingham
NG14 6RF

These financial statements were authorised for issue by the director on 6 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Ready Lets Go Ltd

Notes to the Abridged Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Ready Lets Go Ltd

Notes to the Abridged Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

During the year, the average number of employees at the company was 1 (2022 - 1).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

6,948

6,948

At 28 February 2023

6,948

6,948

Depreciation

Charge for the year

869

869

At 28 February 2023

869

869

Carrying amount

At 28 February 2023

6,079

6,079