Caseware UK (AP4) 2022.0.179 2022.0.179 2022-11-302022-11-302021-12-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08290944 2021-12-01 2022-11-30 08290944 2020-12-01 2021-11-30 08290944 2022-11-30 08290944 2021-11-30 08290944 c:Director1 2021-12-01 2022-11-30 08290944 d:PlantMachinery 2021-12-01 2022-11-30 08290944 d:PlantMachinery 2022-11-30 08290944 d:PlantMachinery 2021-11-30 08290944 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 08290944 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2021-12-01 2022-11-30 08290944 d:MotorVehicles 2021-12-01 2022-11-30 08290944 d:MotorVehicles 2022-11-30 08290944 d:MotorVehicles 2021-11-30 08290944 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 08290944 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-12-01 2022-11-30 08290944 d:OtherPropertyPlantEquipment 2021-12-01 2022-11-30 08290944 d:OtherPropertyPlantEquipment 2022-11-30 08290944 d:OtherPropertyPlantEquipment 2021-11-30 08290944 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 08290944 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2021-12-01 2022-11-30 08290944 d:OwnedOrFreeholdAssets 2021-12-01 2022-11-30 08290944 d:LeasedAssetsHeldAsLessee 2021-12-01 2022-11-30 08290944 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-12-01 2022-11-30 08290944 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-11-30 08290944 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-11-30 08290944 d:CurrentFinancialInstruments 2022-11-30 08290944 d:CurrentFinancialInstruments 2021-11-30 08290944 d:Non-currentFinancialInstruments 2022-11-30 08290944 d:Non-currentFinancialInstruments 2021-11-30 08290944 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08290944 d:CurrentFinancialInstruments d:WithinOneYear 2021-11-30 08290944 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 08290944 d:Non-currentFinancialInstruments d:AfterOneYear 2021-11-30 08290944 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 08290944 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-11-30 08290944 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 08290944 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-11-30 08290944 d:RetainedEarningsAccumulatedLosses 2022-11-30 08290944 d:RetainedEarningsAccumulatedLosses 2021-11-30 08290944 c:FRS102 2021-12-01 2022-11-30 08290944 c:AuditExempt-NoAccountantsReport 2021-12-01 2022-11-30 08290944 c:FullAccounts 2021-12-01 2022-11-30 08290944 c:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 08290944 d:HirePurchaseContracts d:WithinOneYear 2022-11-30 08290944 d:HirePurchaseContracts d:WithinOneYear 2021-11-30 08290944 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-11-30 08290944 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-11-30 08290944 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 08290944 d:AcceleratedTaxDepreciationDeferredTax 2021-11-30 08290944 d:TaxLossesCarry-forwardsDeferredTax 2022-11-30 08290944 d:TaxLossesCarry-forwardsDeferredTax 2021-11-30 08290944 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 08290944










THE REALLY INTERESTING TENT COMPANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2022

 
THE REALLY INTERESTING TENT COMPANY LIMITED
REGISTERED NUMBER: 08290944

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
1,000

Tangible assets
 5 
12,062
16,198

  
12,062
17,198

Current assets
  

Stocks
 6 
35,157
28,428

Debtors: amounts falling due within one year
 7 
2,226
3,220

Cash at bank and in hand
  
817
5,292

  
38,200
36,940

Creditors: amounts falling due within one year
 8 
(26,792)
(31,984)

Net current assets
  
 
 
11,408
 
 
4,956

Total assets less current liabilities
  
23,470
22,154

Creditors: amounts falling due after more than one year
 9 
(10,164)
(21,764)

Provisions for liabilities
  

Deferred tax
 12 
(2,099)
(364)

Net assets
  
11,207
26


Capital and reserves
  

Profit and loss account
  
11,207
26

  
11,207
26


Page 1

 
THE REALLY INTERESTING TENT COMPANY LIMITED
REGISTERED NUMBER: 08290944
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
R C Miller
Director

Date: 21 November 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

1.


General information

The company is a private company limited by shares. It is incorporated in England & Wales (registered number 08290944). The registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Intellectual property
-
5
years

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Workshop
-
20% straight line

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 5

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

2.Accounting policies (continued)

 
2.13

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 6

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

4.


Intangible assets




Intellectual property

£



Cost


At 1 December 2021
5,000



At 30 November 2022

5,000



Amortisation


At 1 December 2021
4,000


Charge for the year on owned assets
1,000



At 30 November 2022

5,000



Net book value



At 30 November 2022
-



At 30 November 2021
1,000



Page 7

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Workshop
Total

£
£
£
£



Cost or valuation


At 1 December 2021
10,692
19,721
3,898
34,311



At 30 November 2022

10,692
19,721
3,898
34,311



Depreciation


At 1 December 2021
7,078
8,898
2,137
18,113


Charge for the year on owned assets
903
-
730
1,633


Charge for the year on financed assets
-
2,503
-
2,503



At 30 November 2022

7,981
11,401
2,867
22,249



Net book value



At 30 November 2022
2,711
8,320
1,031
12,062



At 30 November 2021
3,614
10,823
1,761
16,198

Page 8

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

6.


Stocks

2022
2021
£
£

Raw materials and consumables
32,957
26,228

Work in progress (goods to be sold)
2,200
2,200

35,157
28,428



7.


Debtors

2022
2021
£
£


Trade debtors
51
-

Other debtors
1,392
2,680

Prepayments and accrued income
783
540

2,226
3,220



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
4,792
4,792

Trade creditors
1,537
-

Corporation tax
1,742
-

Other taxation and social security
483
-

Obligations under finance lease and hire purchase contracts
3,226
2,877

Other creditors
13,306
22,152

Accruals and deferred income
1,706
2,163

26,792
31,984


Page 9

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
7,209
15,582

Net obligations under finance leases and hire purchase contracts
2,955
6,182

10,164
21,764



10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
4,792
4,792

Amounts falling due 1-2 years

Bank loans
7,209
9,584

Amounts falling due 2-5 years

Bank loans
-
5,999

12,001
20,375


IThe company received a Coronavirus Bounce Back Loan of £22,500 in May 2021 which is repayable within 5 years. No interest was charged in the first year.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2022
2021
£
£


Within one year
3,226
2,877

Between 1-5 years
2,955
6,182

6,181
9,059

Page 10

 
THE REALLY INTERESTING TENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022

12.


Deferred taxation




2022


£






At beginning of year
(364)


Charged to profit or loss
(1,735)



At end of year
(2,099)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(3,016)
(4,050)

Tax losses carried forward
917
3,686

(2,099)
(364)

 
Page 11