Registration number:
Rehearse It! Limited
for the Year Ended 31 January 2024
Rehearse It! Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
Rehearse It! Limited
Company Information
Director |
Mr Robin Wilfred Roberts |
Registered office |
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Accountants |
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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:
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
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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.
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Banbury
Oxfordshire
OX16 9AA
Rehearse It! Limited
Profit and Loss Account for the Year Ended 31 January 2024
Note |
2024 |
2023 |
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Turnover |
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|
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Cost of sales |
( |
( |
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Gross profit |
|
|
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
952 |
(1,218) |
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Profit/(loss) before tax |
|
( |
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Profit/(loss) for the financial year |
|
( |
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 |
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Fixed assets |
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Tangible assets |
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Current assets |
|||
Debtors |
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|
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Cash at bank and in hand |
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|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
|||
Called up share capital |
1,000 |
1,000 |
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Retained earnings |
(42,031) |
(42,983) |
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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:
• |
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• |
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
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Rehearse It! Limited
Statement of Changes in Equity for the Year Ended 31 January 2024
Share capital |
Retained earnings |
Total |
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At 1 February 2023 |
|
( |
( |
Profit for the year |
- |
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At 31 January 2024 |
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( |
( |
Share capital |
Retained earnings |
Total |
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At 1 February 2022 |
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( |
( |
Loss for the year |
- |
( |
( |
At 31 January 2023 |
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( |
( |
Rehearse It! Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Profit/loss before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
|
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Rehearse It! Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Intangible assets |
Software development costs |
Total |
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Cost or valuation |
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At 1 February 2023 |
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At 31 January 2024 |
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Amortisation |
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At 1 February 2023 |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
- |
- |
Rehearse It! Limited
Notes to the Financial Statements for the Year Ended 31 January 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2023 |
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At 31 January 2024 |
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Depreciation |
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At 1 February 2023 |
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Charge for the year |
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At 31 January 2024 |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Debtors |
Current |
2024 |
2023 |
Trade debtors |
- |
- |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Rehearse It! Limited
Detailed Profit and Loss Account for the Year Ended 31 January 2024
2024 |
2023 |
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Turnover |
10,147 |
8,688 |
Cost of sales |
(475) |
(2,182) |
Gross profit |
9,672 |
6,506 |
Administrative expenses |
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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) |
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Operating profit/(loss) |
952 |
(1,218) |
Profit/(loss) before tax |
952 |
(1,218) |