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Company Registration No. 08523677 (England and Wales)
Rival Animation Limited Unaudited accounts for the year ended 31 March 2023
Rival Animation Limited Unaudited accounts Contents
Page
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Rival Animation Limited Company Information for the year ended 31 March 2023
Director
Luke Janes
Company Number
08523677 (England and Wales)
Registered Office
6 Weyhill Close Portchester Fareham Hampshire PO16 8EL United Kingdom
Accountants
Horn & Co. Accountants Limited 6 Weyhill Close Portchester Fareham Hampshire PO16 8EL
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Rival Animation Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rival Animation Limited for the year ended 31 March 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Horn & Co. Accountants Limited Chartered Certified Accountants 6 Weyhill Close Portchester Fareham Hampshire PO16 8EL 11 November 2023
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Rival Animation Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,184 
4,493 
Current assets
Inventories
- 
10,663 
Debtors
38,833 
15,902 
Cash at bank and in hand
29,929 
20,526 
68,762 
47,091 
Creditors: amounts falling due within one year
(47,596)
(44,336)
Net current assets
21,166 
2,755 
Total assets less current liabilities
25,350 
7,248 
Provisions for liabilities
Deferred tax
(795)
(854)
Net assets
24,555 
6,394 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
24,545 
6,384 
Shareholders' funds
24,555 
6,394 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 November 2023 and were signed on its behalf by
Luke Janes Director Company Registration No. 08523677
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Rival Animation Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Rival Animation Limited is a private company, limited by shares, registered in England and Wales, registration number 08523677. The registered office is 6 Weyhill Close, Portchester, Fareham, Hampshire, PO16 8EL, United Kingdom.
2
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
20% reducing balance
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement. 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 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 year 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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Rival Animation Limited Notes to the Accounts for the year ended 31 March 2023
3
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
21,794 
Additions
608 
At 31 March 2023
22,402 
Depreciation
At 1 April 2022
17,301 
Charge for the year
917 
At 31 March 2023
18,218 
Net book value
At 31 March 2023
4,184 
At 31 March 2022
4,493 
4
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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