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REGISTERED NUMBER: 11021008 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

RESTLY LTD

RESTLY LTD (Registered number: 11021008)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chairman's Report 2

Balance Sheet 3

Notes to the Financial Statements 5


RESTLY LTD

Company Information
for the Year Ended 31 December 2023







DIRECTOR: B A Shayeb





SECRETARY:





REGISTERED OFFICE: Botanical Works
2 Jubilee Street
LONDON
UK
E1 3FU





REGISTERED NUMBER: 11021008 (England and Wales)





ACCOUNTANTS: Taxpoint Direct Limited
Chartered Certified Accountants &Tax Consultants
310E Sterling House
Langston Road
Loughton
IG10 3TS

RESTLY LTD (Registered number: 11021008)

Chairman's Report
for the Year Ended 31 December 2023

Mission Statement:
At Restly, our mission is to revolutionise the way people experience travel by providing a seamless platform for discovering and booking unique accommodations worldwide. We are committed to offering a curated selection of high-quality properties, leveraging advanced technology to personalise the booking experience, and fostering partnerships to enhance our offerings and expand our global reach.

Overview:
Since our inception in 2017, Restly has experienced steady growth, driven by our commitment to excellence and innovation in the hospitality industry. In the year ending December 31, 2023, we are pleased to report significant progress and achievements.
With over £700 million of property assets under management, we continue to press on towards our mission above and intend to use technological advancements to help us achieve this.

Financial Performance:
In 2017, Restly embarked on a journey of growth and expansion, laying the foundation for future success. Over the years, we have consistently invested in technology infrastructure, expanded our network of accommodations, and optimised our platform to enhance user experience.
As a result of these efforts, we are proud to report a nearly 20% growth in key financial metrics for the year ending December 31, 2023. This growth is a testament to the strength of our business model, the dedication of our team, and the loyalty of our customers.

Forecast and Outlook:
Looking ahead, Restly is poised for continued growth and success. With a forecasted growth rate of 100% for the year 2024, we are confident in our ability to capitalise on emerging opportunities in the travel and hospitality industry.
Our strategic priorities for the coming year include geographic expansion into new markets, further investment in technology to enhance our platform capabilities, and the continued cultivation of strategic partnerships with property owners, hospitality providers, and travel agencies.



Corporate Social Responsibility:
At Restly, we recognise the importance of corporate social responsibility in today's business landscape. We are committed to making a positive impact on society and the environment through the following initiatives:
Environmental Sustainability:
We are actively working to reduce our carbon footprint by implementing energy-efficient practices, promoting recycling and waste reduction, and supporting sustainable travel options.
Community Engagement:
We believe in giving back to the communities that support us. Through partnerships with local organisations and charitable initiatives, we strive to make meaningful contributions to the communities where we operate.
Diversity and Inclusion:
We are dedicated to fostering a diverse and inclusive workplace where all employees feel valued and respected. We actively promote diversity in hiring, training, and leadership development, recognising that diverse perspectives drive innovation and success.

Conclusion:
In conclusion, the year 2023 has been a year of significant achievement and growth for Restly. We are grateful to our customers, partners, and stakeholders for their continued support and confidence in our vision.
As we look to the future, we remain committed to our mission of redefining the way people experience travel, and we are excited about the opportunities that lie ahead. With a strong foundation, a talented team, and a clear strategic direction, we are confident in our ability to continue delivering value and driving growth for our company and stakeholders.

B A Shayeb

Chairman/Director

RESTLY LTD (Registered number: 11021008)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 111,626 1,902

CURRENT ASSETS
Stocks 3,734 -
Debtors 5 147,949 198,742
Cash at bank and in hand 233,290 150,518
384,973 349,260
CREDITORS
Amounts falling due within one year 6 126,818 117,869
NET CURRENT ASSETS 258,155 231,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

369,781

233,293

CREDITORS
Amounts falling due after more than one
year

7

365,779

215,539
NET ASSETS 4,002 17,754

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 3,002 16,754
SHAREHOLDERS' FUNDS 4,002 17,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

RESTLY LTD (Registered number: 11021008)

Balance Sheet - continued
31 December 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 15 April 2024 and were signed by:





B A Shayeb - Director


RESTLY LTD (Registered number: 11021008)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

RESTLY LTD 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 6 ) .

RESTLY LTD (Registered number: 11021008)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 - 945 1,500 1,570 4,015
Additions 55,247 17,066 39,884 7,946 120,143
At 31 December 2023 55,247 18,011 41,384 9,516 124,158
DEPRECIATION
At 1 January 2023 - 282 1,375 456 2,113
Charge for year 5,419 384 4,075 541 10,419
At 31 December 2023 5,419 666 5,450 997 12,532
NET BOOK VALUE
At 31 December 2023 49,828 17,345 35,934 8,519 111,626
At 31 December 2022 - 663 125 1,114 1,902

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 75,681 23,625
Client Prepaid Rent 9,600 22,563
Deposit To Landlord 11,150 -
Office Deposit-Restly 48,518 -
144,949 46,188

Amounts falling due after more than one year:
Amounts recoverable on contract - 3,143
Other debtors 3,000 149,411
3,000 152,554

Aggregate amounts 147,949 198,742

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 126,818 117,869

RESTLY LTD (Registered number: 11021008)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 78,464 71,549
Client Advance Payments 52,749 15,524
Client Deposit- TDS Restly 234,566 128,466
365,779 215,539

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 51,840 71,549
Capital Lease Payable 26,624 -
78,464 71,549

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000,000 ordinary share capital .001 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 January 2023 16,754
Deficit for the year (13,752 )
At 31 December 2023 3,002