IRIS Accounts Production v23.3.0.418 13930234 director 21.2.22 31.7.23 31.7.23 false true false false false true false Ordinary 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh139302342022-02-20139302342023-07-31139302342022-02-212023-07-31139302342022-02-2013930234ns10:Originalns15:EnglandWales2022-02-212023-07-3113930234ns14:PoundSterlingns10:Original2022-02-212023-07-3113930234ns10:Originalns10:Director12022-02-212023-07-3113930234ns10:Original2022-02-212023-07-3113930234ns10:Original2023-07-3113930234ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-212023-07-3113930234ns10:Originalns10:SmallEntities2022-02-212023-07-3113930234ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-212023-07-3113930234ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-212023-07-3113930234ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-212023-07-3113930234ns10:Originalns10:FullAccounts2022-02-212023-07-3113930234ns10:Original12022-02-212023-07-3113930234ns10:Originalns10:OrdinaryShareClass12022-02-212023-07-3113930234ns10:Originalns10:OrdinaryShareClass112022-02-212023-07-3113930234ns10:CompanySecretary1ns10:Original2022-02-212023-07-3113930234ns10:Originalns10:RegisteredOffice2022-02-212023-07-3113930234ns10:Originalns5:CurrentFinancialInstruments2023-07-3113930234ns5:ShareCapitalns10:Original2023-07-3113930234ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3113930234ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-02-212023-07-3113930234ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2022-02-212023-07-3113930234ns10:Originalns5:FurnitureFittings2022-02-212023-07-3113930234ns10:Originalns5:ComputerEquipment2022-02-212023-07-3113930234ns5:IntangibleAssetsOtherThanGoodwillns10:Original2023-07-3113930234ns10:Originalns5:FurnitureFittings2023-07-3113930234ns10:Originalns5:ComputerEquipment2023-07-3113930234ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3113930234ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2023-07-3113930234ns10:Originalns5:DeferredTaxation2022-02-212023-07-3113930234ns10:Originalns5:DeferredTaxation2023-07-3113930234ns10:Originalns10:OrdinaryShareClass12023-07-31
REGISTERED NUMBER: 13930234 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 21 FEBRUARY 2022 TO 31 JULY 2023

FOR

RETHINK AV LIMITED

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 21 February 2022 to 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RETHINK AV LIMITED

COMPANY INFORMATION
for the Period 21 February 2022 to 31 July 2023







DIRECTOR: Dr S Ali





SECRETARY: 1ST SECRETARIES LIMITED





REGISTERED OFFICE: 72-73 Bartholomew Street
Newbury
Berkshire
RG15 5DU





REGISTERED NUMBER: 13930234 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

BALANCE SHEET
31 July 2023

Notes £    £   
FIXED ASSETS
Intangible assets 4 216
Tangible assets 5 612
828

CURRENT ASSETS
Stocks 6 27,899
Debtors 7 75,303
Cash at bank and in hand 40,078
143,280
CREDITORS
Amounts falling due within one year 8 92,800
NET CURRENT ASSETS 50,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

51,308

PROVISIONS FOR LIABILITIES 9 116
NET ASSETS 51,192

CAPITAL AND RESERVES
Called up share capital 10 1
Retained earnings 51,191
SHAREHOLDERS' FUNDS 51,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

BALANCE SHEET - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





Dr S Ali - Director


RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 21 February 2022 to 31 July 2023

1. STATUTORY INFORMATION

Rethink Av Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes derived from ordinary activities. Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the service.Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been passed to the buyer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 21 February 2022 to 31 July 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 21 February 2022 to 31 July 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 220
At 31 July 2023 220
AMORTISATION
Charge for period 4
At 31 July 2023 4
NET BOOK VALUE
At 31 July 2023 216

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
Additions 417 361 778
At 31 July 2023 417 361 778
DEPRECIATION
Charge for period 87 79 166
At 31 July 2023 87 79 166
NET BOOK VALUE
At 31 July 2023 330 282 612

6. STOCKS
£   
Stocks 27,899

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 68,865
Other debtors 4,390
Prepayments 2,048
75,303

RETHINK AV LIMITED (REGISTERED NUMBER: 13930234)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 21 February 2022 to 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 22,967
Taxation 13,382
Value added tax 18,382
Other creditors 10,352
Deferred income 27,400
Accruals 317
92,800

9. PROVISIONS FOR LIABILITIES
£   
Deferred tax
Accelerated capital allowances 116

Deferred
tax
£   
Provided during period 116
Balance at 31 July 2023 116

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
1 Ordinary £1 1

1 Ordinary share of £1 was allotted and fully paid for cash at par during the period.