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Registered number: 07281668
Rightsearch Solutions Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
James Khan
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07281668
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 1,697 1,689
1,697 1,689
CURRENT ASSETS
Debtors 6 87,792 83,088
Cash at bank and in hand 6,823 27,918
94,615 111,006
Creditors: Amounts Falling Due Within One Year 7 (66,625 ) (71,480 )
NET CURRENT ASSETS (LIABILITIES) 27,990 39,526
TOTAL ASSETS LESS CURRENT LIABILITIES 29,687 41,215
Creditors: Amounts Falling Due After More Than One Year 8 (29,568 ) (43,868 )
NET ASSETS/(LIABILITIES) 119 (2,653 )
CAPITAL AND RESERVES
Called up share capital 9 90 90
Profit and Loss Account 29 (2,743 )
SHAREHOLDERS' FUNDS 119 (2,653)
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Catherine Gray
Director
12/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rightsearch Solutions Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07281668 . The registered office is Sophia House, Cathedral Road, Cardiff, S. Wales, CF11 9LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets include the Company Website. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 15,875
As at 30 June 2024 15,875
Amortisation
As at 1 July 2023 15,875
As at 30 June 2024 15,875
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
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5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 July 2023 19,718
Additions 574
As at 30 June 2024 20,292
Depreciation
As at 1 July 2023 18,029
Provided during the period 566
As at 30 June 2024 18,595
Net Book Value
As at 30 June 2024 1,697
As at 1 July 2023 1,689
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 79,738 80,115
Other debtors 8,054 2,973
87,792 83,088
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 26,225 31,900
Bank loans and overdrafts 14,300 14,300
Other creditors 5,965 6,891
Taxation and social security 20,135 18,389
66,625 71,480
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 29,568 43,868
29,568 43,868
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 90 90
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mrs Catherine Gray - 5,673 - - 5,673
The above loan is unsecured, interest free and repayable within nine months of the financial year end.
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