Registration number:
Revive Business Recovery Limited
for the Year Ended 30 June 2023
Revive Business Recovery Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Revive Business Recovery Limited
(Registration number: 08519805)
Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Profit and loss account |
338,215 |
279,863 |
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Shareholders' funds |
338,315 |
279,963 |
For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Revive Business Recovery Limited
(Registration number: 08519805)
Balance Sheet as at 30 June 2023
These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the
.........................................
Director
Revive Business Recovery Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Accounting policies |
Revive Business Recovery Limited is a private company, limited by shares, domiciled in England and Wales, company number 08519805. The registered office is at
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Going concern
After due consideration of all relevant factors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Revenue recognition
Revenue represents amounts recoverable from clients for professional services provided during the year, excluding value added tax. The company recognises revenue when the amount can be reliably measured and it is probable economic benefits will flow.
Services provided to clients, which at the balance sheet date have not been billed, are recognised as unbilled revenue.
Revenue recognised in this manner is based on an assessment of the fair value of the services provided at the balance sheet date reflecting the stage of completion (determined by costs incurred to date as a percentage of the total anticipated costs) of each assignment. These estimates and judgements may change over time as the case completes and this will be recognised in the profit and loss account in the period in which the revision becomes known. These judgements are formed over a large portfolio of cases and are therefore unlikely to be individually material.
Government grants
Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.
Revive Business Recovery Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold property |
Not depreciated |
Fixtures & fittings |
25% straight line |
Computer equipment |
33% straight line |
Office equipment |
33% straight line |
Motor Vehicles |
25% reducing balance |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Revive Business Recovery Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Tangible assets |
Long leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor Vehicles |
Total |
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Cost or valuation |
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At 1 July 2022 |
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- |
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Additions |
- |
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- |
- |
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At 30 June 2023 |
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Depreciation |
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At 1 July 2022 |
- |
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- |
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Charge for the year |
- |
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- |
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At 30 June 2023 |
- |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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- |
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Revive Business Recovery Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Accrued income |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Bounce back loan |
10,000 |
10,000 |
Trade creditors |
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Social security and other taxes |
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Outstanding defined contribution pension costs |
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Accrued expenses |
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Corporation tax |
6,432 |
16,011 |
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Creditors: amounts falling due after more than one year
2023 |
2022 |
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Due after one year |
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Bounce back loan |
25,834 |
35,833 |
Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £10,320 (2022 - £15,996).