1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,826 3,793 1,012 4,805 2,021 3,033 422 324 746 222 85 307 439 200 xbrli:pure xbrli:shares iso4217:GBP 08115448 2023-01-01 2023-12-31 08115448 2023-12-31 08115448 2022-12-31 08115448 2022-01-01 2022-12-31 08115448 2022-12-31 08115448 2021-12-31 08115448 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 08115448 bus:Director1 2023-01-01 2023-12-31 08115448 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 08115448 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 08115448 core:WithinOneYear 2023-12-31 08115448 core:WithinOneYear 2022-12-31 08115448 core:ShareCapital 2023-12-31 08115448 core:ShareCapital 2022-12-31 08115448 core:RetainedEarningsAccumulatedLosses 2023-12-31 08115448 core:RetainedEarningsAccumulatedLosses 2022-12-31 08115448 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 08115448 bus:SmallEntities 2023-01-01 2023-12-31 08115448 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08115448 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08115448 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08115448 bus:FullAccounts 2023-01-01 2023-12-31 08115448 core:ComputerEquipment 2023-01-01 2023-12-31 08115448 core:ComputerEquipment 2022-12-31 08115448 core:ComputerEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 08115448
Realise Value Capital Ltd
Filleted Unaudited Financial Statements
31 December 2023
Realise Value Capital Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
2,021
3,033
Tangible assets
6
439
200
-------
-------
2,460
3,233
Current assets
Debtors
7
25,080
763
Cash at bank and in hand
10,305
16,523
--------
--------
35,385
17,286
Creditors: amounts falling due within one year
8
17,246
20,561
--------
--------
Net current assets/(liabilities)
18,139
( 3,275)
--------
-------
Total assets less current liabilities
20,599
( 42)
--------
----
Net assets/(liabilities)
20,599
( 42)
--------
----
Realise Value Capital Ltd
Statement of Financial Position (continued)
31 December 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
15,000
15,000
Profit and loss account
5,599
( 15,042)
--------
--------
Shareholder funds/(deficit)
20,599
( 42)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 July 2024 , and are signed on behalf of the board by:
Mr M Terrinoni
Director
Company registration number: 08115448
Realise Value Capital Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
Shareholders have funded the loss during the current financial year and have agreed to continue such funding for the foreseeable future. On this basis the director considers it appropriate to prepare financial statements on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Software development
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
25% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Intangible assets
Development costs
£
Cost
At 1 January 2023 and 31 December 2023
6,826
-------
Amortisation
At 1 January 2023
3,793
Charge for the year
1,012
-------
At 31 December 2023
4,805
-------
Carrying amount
At 31 December 2023
2,021
-------
At 31 December 2022
3,033
-------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2023
422
422
Additions
324
324
----
----
At 31 December 2023
746
746
----
----
Depreciation
At 1 January 2023
222
222
Charge for the year
85
85
----
----
At 31 December 2023
307
307
----
----
Carrying amount
At 31 December 2023
439
439
----
----
At 31 December 2022
200
200
----
----
7. Debtors
2023
2022
£
£
Trade debtors
24,451
Other debtors
629
763
--------
----
25,080
763
--------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
1,182
2,812
Other creditors
16,064
17,749
--------
--------
17,246
20,561
--------
--------