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Registration number: 09382604

Rehearse It! Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Rehearse It! Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7 to 10

Detailed Profit and Loss Account

11

 

Rehearse It! Limited

Company Information

Director

Mr Robin Wilfred Roberts

Registered office

4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

Accountants

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

 

Rehearse It! Limited

Director's Report for the Year Ended 31 January 2024

The director presents his report and the financial statements for the year ended 31 January 2024.

Director of the company

The director who held office during the year was as follows:

Mr Robin Wilfred Roberts

Principal activity

The principal activity of the company is Employment placement training

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 1 August 2024
 

.........................................
Mr Robin Wilfred Roberts
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Rehearse It! Limited
for the Year Ended 31 January 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rehearse It! Limited for the year ended 31 January 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Rehearse It! Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Rehearse It! Limited and state those matters that we have agreed to state to the Board of Directors of Rehearse It! Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rehearse It! Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Rehearse It! Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rehearse It! Limited. You consider that Rehearse It! Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Rehearse It! Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Henson ReesRussell
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

1 August 2024

 

Rehearse It! Limited

Profit and Loss Account for the Year Ended 31 January 2024

Note

2024
£

2023
£

Turnover

 

10,147

8,688

Cost of sales

 

(475)

(2,182)

Gross profit

 

9,672

6,506

Administrative expenses

 

(8,720)

(7,724)

Operating profit/(loss)

 

952

(1,218)

Profit/(loss) before tax

4

952

(1,218)

Profit/(loss) for the financial year

 

952

(1,218)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Rehearse It! Limited

(Registration number: 09382604)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

3,875

5,166

Current assets

 

Debtors

7

5,463

16,902

Cash at bank and in hand

 

21,202

9,023

 

26,665

25,925

Creditors: Amounts falling due within one year

8

(71,571)

(73,074)

Net current liabilities

 

(44,906)

(47,149)

Net liabilities

 

(41,031)

(41,983)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(42,031)

(42,983)

Shareholders' deficit

 

(41,031)

(41,983)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 August 2024
 


Mr Robin Wilfred Roberts
Director

 

Rehearse It! Limited

Statement of Changes in Equity for the Year Ended 31 January 2024

Share capital
£

Retained earnings
£

Total
£

At 1 February 2023

1,000

(42,983)

(41,983)

Profit for the year

-

952

952

At 31 January 2024

1,000

(42,031)

(41,031)

Share capital
£

Retained earnings
£

Total
£

At 1 February 2022

1,000

(41,765)

(40,765)

Loss for the year

-

(1,218)

(1,218)

At 31 January 2023

1,000

(42,983)

(41,983)

 

Rehearse It! Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

Reducing balance at 25% per annum

 

Rehearse It! Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

Office Equipment

Reducing balance at 25% per annum

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website Development

Over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

1,292

1,723

 

Rehearse It! Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Intangible assets

Software development costs
£

Total
£

Cost or valuation

At 1 February 2023

49,000

49,000

At 31 January 2024

49,000

49,000

Amortisation

At 1 February 2023

49,000

49,000

At 31 January 2024

49,000

49,000

Carrying amount

At 31 January 2024

-

-

 

Rehearse It! Limited

Notes to the Financial Statements for the Year Ended 31 January 2024

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

19,411

19,411

At 31 January 2024

19,411

19,411

Depreciation

At 1 February 2023

14,245

14,245

Charge for the year

1,291

1,291

At 31 January 2024

15,536

15,536

Carrying amount

At 31 January 2024

3,875

3,875

At 31 January 2023

5,166

5,166

7

Debtors

Current

2024
£

2023
£

Trade debtors

-

-

Other debtors

5,463

16,902

 

5,463

16,902

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

16

2,417

Accruals and deferred income

2,028

2,027

Other creditors

69,527

68,630

71,571

73,074

 

Rehearse It! Limited

Detailed Profit and Loss Account for the Year Ended 31 January 2024

2024
 £

2023
 £

Turnover

10,147

8,688

Cost of sales

(475)

(2,182)

Gross profit

9,672

6,506

Administrative expenses

Staff training

1,121

-

Light, heat and power

-

1,000

Insurance

-

234

Use of home as office

312

-

Repairs and maintenance

300

124

Telephone and fax

450

417

Computer software and maintenance costs

1,449

1,602

Motor expenses

135

171

Travel and subsistence

-

112

Accountancy fees

2,070

2,215

Consultancy fees

1,460

-

Bank charges

131

126

Depreciation of fixtures and fittings (owned)

420

560

Depreciation of office equipment (owned)

872

1,163

(8,720)

(7,724)

Operating profit/(loss)

952

(1,218)

Profit/(loss) before tax

952

(1,218)