Company registration number SC684752 (Scotland)
REVOX23 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
REVOX23 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
REVOX23 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Stocks
3
34,812
2,396
Debtors
4
4,014
-
0
Cash at bank and in hand
200
629
39,026
3,025
Creditors: amounts falling due within one year
5
(51,821)
(7,630)
Net current liabilities
(12,795)
(4,605)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(13,795)
(5,605)
Total equity
(12,795)
(4,605)

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 July 2024
ANDREW GRAHAM
Mr Andrew Graham
Director
Company Registration No. SC684752
REVOX23 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Revox23 Limited is a private company limited by shares incorporated in Scotland. The registered office is 6 Boyndie Street, Banff, Aberdeenshire, AB45 1DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. At the balance sheet date, the company had net current liabilities of £12,795 (2022: £4,605). Included within these liabilities are amounts due to the director of £48,620 (2022: £4,600) the director has confirmed that he will not repay this loan in advance of any third party creditors. The financial statements are prepared on a going concern basis which assumes that the company will continue to meet its liabilities as they fall due. Furthermore, the director has confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future. As a result, the director has a reasonable expectation that the company will continue in operational existence for the foreseeable future.true

 

1.3
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

REVOX23 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
1
1
3
Stocks
2023
2022
£
£
Raw materials and consumables
34,812
2,396
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
4,014
-
0
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
48,620
4,600
Accruals and deferred income
3,201
3,030
51,821
7,630
6
Related party transactions

During the year, the company received credits of £44,020 from the director and made no advances, which resulted in amounts due to the director at the year end of £48,620 (2022 - £4,600).

 

There are no set repayment terms, nor is interest charged on the outstanding loans.

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