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REGISTERED NUMBER: 01437553 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Recor Limited

Recor Limited (Registered number: 01437553)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Recor Limited

Company Information
for the Year Ended 30 September 2023







DIRECTOR: A Tarney





REGISTERED OFFICE: Second Floor
Curzon House
24 High Street
Banstead
Surrey
SM7 2LJ





REGISTERED NUMBER: 01437553 (England and Wales)





ACCOUNTANTS: Ascendant Partners Limited
Second Floor
Curzon House
24 High Street
Banstead
Surrey
SM7 2LJ

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Recor Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Recor Limited for the year ended 30 September 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Recor Limited in accordance with the terms of our engagement letter dated 3 May 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Recor Limited and state those matters that we have agreed to state to the director of Recor Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Recor Limited and its director for our work or for this report.

It is your duty to ensure that Recor Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Recor Limited. You consider that Recor Limited 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 financial statements of Recor Limited. 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 financial statements.






Ascendant Partners Limited
Second Floor
Curzon House
24 High Street
Banstead
Surrey
SM7 2LJ


1 March 2024

Recor Limited (Registered number: 01437553)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 272,981
- 272,981

CURRENT ASSETS
Debtors 5 170,359 783,414
Cash at bank 2,061,550 489,402
2,231,909 1,272,816
CREDITORS
Amounts falling due within one year 6 72,657 57,222
NET CURRENT ASSETS 2,159,252 1,215,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,159,252

1,488,575

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,159,152 1,488,475
SHAREHOLDERS' FUNDS 2,159,252 1,488,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Recor Limited (Registered number: 01437553)

Statement of Financial Position - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 March 2024 and were signed by:





A Tarney - Director


Recor Limited (Registered number: 01437553)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Recor 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.

Going concern
The director has determined that there is no material uncertainty that casts doubt on the entity's ability to continue as a going concern. In arriving at this conclusion, management have considered projected cash flows, liquidity and expected operation activities for a period of at least 12 months from the signing of these financial statements.

Revenue
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents royalties receivable in the year and excludes value added tax.

Turnover arises from the United Kingdom, although a substantial part of the company's income is
derived from royalties in respect of overseas sales of the company's products.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Held at cost
Plant and machinery - 20% per annum on cost
Computer equipment - 20% per annum on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Recor Limited (Registered number: 01437553)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 October 2022 272,981 159,696 11,099 443,776
Disposals (272,981 ) - - (272,981 )
At 30 September 2023 - 159,696 11,099 170,795
DEPRECIATION
At 1 October 2022
and 30 September 2023 - 159,696 11,099 170,795
NET BOOK VALUE
At 30 September 2023 - - - -
At 30 September 2022 272,981 - - 272,981

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 318 -
Amounts owed by related undertakings 166,644 166,644
Director's loan account - 611,743
Social security and other taxes 1,538 1,205
Prepayments and accrued income 1,859 3,822
170,359 783,414

Recor Limited (Registered number: 01437553)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,613 258
Corporation tax 65,469 50,465
Social security and other taxes - 750
Director's loan account 250 -
Accruals and deferred income 3,325 5,749
72,657 57,222

7. RELATED PARTY DISCLOSURES

Mr A Tarney who is a director of the company is also a director of Alan Tarney Limited.

At the balance sheet date, the amount owed from Alan Tarney Limited was £166,644 (2022: £166,644).

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Tarney