REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 JULY 2022 TO 31 DECEMBER 2023 |
FOR |
REVIEWS.IO LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
18 JULY 2022 TO 31 DECEMBER 2023 |
FOR |
REVIEWS.IO LTD |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REVIEWS.IO LTD |
COMPANY INFORMATION |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
INDEPENDENT AUDITORS: |
and Statutory Auditors |
Granville Hall |
Granville Road |
Leicester |
LE1 7RU |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
BALANCE SHEET |
31 DECEMBER 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 11 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Reviews.io Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The company was incorporated on 18th July 2022 and has a year end of 31st December 2023, representing a 17 month period. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Revenue comprises the fair value for the provision of services excluding value added taxes and represents net invoice value less estimated rebates, returns and settlement discounts. |
The company supplies services to customers online from its offices, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on completion of the service. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Improvements to property | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Operating lease |
Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
4. | INTANGIBLE FIXED ASSETS |
Computer |
Goodwill | software | Totals |
£ | £ | £ |
COST |
Additions |
At 31 December 2023 |
AMORTISATION |
Amortisation for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
Additions |
At 31 December 2023 |
DEPRECIATION |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Taxation |
Paye/Ni payable | 44,001 |
VAT | 326,302 |
Other creditors |
Accruals and deferred income |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
In more than five years |
10. | SECURED DEBTS |
The company has both fixed and floating charges on a loan from the parent company Apphub LLC, this loan is shown in the Apphub UK Holdings Limited accounts. |
11. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax |
Accelerated capital allowances | 28,694 |
REVIEWS.IO LTD (REGISTERED NUMBER: 14241120) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JULY 2022 TO 31 DECEMBER 2023 |
11. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Movement in provision | 28,694 |
Balance at 31 December 2023 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | RELATED PARTY DISCLOSURES |
A management charge of £993,500 was paid to AppHub UK Holdings Limited in the period. |
A management charge of £35,101 was paid to AppHub LLC in the period. |
A management charge of £322,925 was received from Reviews.io 2020 GmbH in the period. |
During the period the company rented premises in the normal course of business from Mr C McKeefery at a cost of £62,500. |
Within creditors is a balance of £5,203 owed to related companies. |
No interest was charged on the above balance. |
14. | ULTIMATE CONTROLLING PARTY |
The company's parent company at the balance sheet date is AppHub UK Holdings Limited, a private limited company incorporated and registered in England and Wales. The registered office of AppHub UK Holdings Limited is 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, United Kingdom, WA14 2DT and copies of the financial statements are available from Companies House, Crown Way, Cardiff, VF14 3UZ. |
The ultimate parent company and controlling party is AppHub JV Holdings GP, LLC and is an American public limited company. The group accounts can be found at Corporation Trust Centre 1209 Orange State, Wilmington, New Castle, DE, 19801. |