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Registration number: 08519805

Revive Business Recovery Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Revive Business Recovery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Revive Business Recovery Limited

(Registration number: 08519805)

Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

216,870

168,513

Current assets

 

Debtors

4

154,587

148,059

Cash at bank and in hand

 

59,468

71,759

 

214,055

219,818

Creditors: Amounts falling due within one year

5

(56,641)

(71,288)

Net current assets

 

157,414

148,530

Total assets less current liabilities

 

374,284

317,043

Creditors: Amounts falling due after more than one year

5

(25,834)

(35,833)

Provisions for liabilities

(10,135)

(1,247)

Net assets

 

338,315

279,963

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

338,215

279,863

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 on 20 March 2024
 

.........................................

Mrs Claire Foster
Director

 

Revive Business Recovery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

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 7 Jetstream Drive, Auckley, Doncaster, South Yorkshire, DN9 3QS, United Kingdom.

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.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 5).

 

Revive Business Recovery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor Vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

163,523

22,937

6,718

16,903

-

210,081

Additions

-

2,367

-

-

59,100

61,467

At 30 June 2023

163,523

25,304

6,718

16,903

59,100

271,548

Depreciation

At 1 July 2022

-

21,944

6,717

12,906

-

41,567

Charge for the year

-

1,280

-

2,597

9,234

13,111

At 30 June 2023

-

23,224

6,717

15,503

9,234

54,678

Carrying amount

At 30 June 2023

163,523

2,080

1

1,400

49,866

216,870

At 30 June 2022

163,523

992

1

3,997

-

168,513

 

Revive Business Recovery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Debtors

2023
 £

2022
 £

Trade debtors

4,818

2,512

Other debtors

7,094

6,528

Prepayments

16,180

14,459

Accrued income

126,495

124,560

154,587

148,059

5

Creditors

Creditors: amounts falling due within one year

2023
 £

2022
 £

Due within one year

Bounce back loan

10,000

10,000

Trade creditors

8,437

7,037

Social security and other taxes

23,091

33,707

Outstanding defined contribution pension costs

632

809

Accrued expenses

8,049

3,724

Corporation tax

6,432

16,011

56,641

71,288

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Bounce back loan

25,834

35,833

6

Financial commitments, guarantees and contingencies

The total amount of financial commitments not included in the balance sheet is £10,320 (2022 - £15,996).