REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2023 |
for |
RESTLY LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
E1 3FU |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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 |
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 |
RESTLY LTD (Registered number: 11021008) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
RESTLY LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
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 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS |
31.12.23 | 31.12.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Client Prepaid Rent |
Deposit To Landlord | 11,150 | - |
Office Deposit-Restly | 48,518 | - |
Amounts falling due after more than one year: |
Amounts recoverable on contract |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Trade creditors |
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) |
Client Advance Payments | 52,749 | 15,524 |
Client Deposit- TDS Restly | 234,566 | 128,466 |
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 |
Capital Lease Payable | 26,624 | - |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
ordinary share capital | .001 | 1,000 | 1,000 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Deficit for the year | ( |
) |
At 31 December 2023 |