Company Registration No. 09629796 (England and Wales)
Realitech Limited
Unaudited accounts
for the year ended 31 March 2023
Realitech Limited
Unaudited accounts
Contents
Realitech Limited
Company Information
for the year ended 31 March 2023
Directors
N R Hagner
J S Bhambra
Company Number
09629796 (England and Wales)
Registered Office
The Gallery
New Quay Street
Teignmouth
Devon
TQ14 8DA
Accountants
Yannons Chartered Accountants
The Gallery
New Quay Street
Teignmouth
Devon
TQ14 8DA
Realitech Limited
Statement of financial position
as at 31 March 2023
Tangible assets
14,730
18,124
Debtors
1,800,879
1,691,210
Cash at bank and in hand
422,796
347,603
Creditors: amounts falling due within one year
(1,286,010)
(1,401,244)
Net current assets
937,665
637,569
Total assets less current liabilities
952,395
655,693
Provisions for liabilities
Deferred tax
(2,798)
(3,443)
Net assets
949,597
652,250
Called up share capital
4
4
Capital redemption reserve
2
2
Profit and loss account
949,591
652,244
Shareholders' funds
949,597
652,250
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by
N R Hagner
Director
Company Registration No. 09629796
Realitech Limited
Notes to the Accounts
for the year ended 31 March 2023
Realitech Limited is a private company, limited by shares, registered in England and Wales, registration number 09629796. The registered office is The Gallery, New Quay Street, Teignmouth, Devon, TQ14 8DA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents amounts chargeable, net of value added tax, in respect of sale of goods and services to customers.
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:
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life of 3 years.
Deferred tax arises is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company makes contributions to employee pension schemes. Contributions payable are recognised in the profit and loss account when they become due in accordance with contractual arrangements.
Capital redemption reserve
Transfers are made to this account to maintain the nominal value of shares which have been bought back and cancelled by the company. 1 Ordinary and 1 Ordinary C share were bought back by the company in December 2021.
Realitech Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
3,124
38,497
41,621
Disposals
-
(4,118)
(4,118)
At 31 March 2023
3,124
39,413
42,537
At 1 April 2022
845
22,652
23,497
Charge for the year
781
7,647
8,428
On disposals
-
(4,118)
(4,118)
At 31 March 2023
1,626
26,181
27,807
At 31 March 2023
1,498
13,232
14,730
At 31 March 2022
2,279
15,845
18,124
Amounts falling due within one year
Trade debtors
1,153,941
1,035,393
Accrued income and prepayments
646,833
619,186
Realitech Limited
Notes to the Accounts
for the year ended 31 March 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
950,309
872,778
Taxes and social security
73,158
71,158
Other creditors
390
17,776
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
1 Ordinary A shares of £1 each
1
1
1 Ordinary B shares of £1 each
1
1
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
8,000
-
8,000
-
10
Average number of employees
During the year the average number of employees was 4 (2022: 4).