Company Registration No. 14036060 (England and Wales)
RATED LABS LTD
Unaudited accounts
for the year ended 30 April 2024
RATED LABS LTD
Unaudited accounts
Contents
RATED LABS LTD
Company Information
for the year ended 30 April 2024
Directors
Ilias Elias Simos
Kyriakos Aris Koliopoulos
Company Number
14036060 (England and Wales)
Registered Office
12 NEW FETTER LANE
LONDON
ENGLAND
EC4A 1JP
ENGLAND
Accountants
Vicente Kewley Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of RATED LABS LTD for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
RATED LABS LTD for the year ended
30 April 2024 as set out on pages
5 -
7 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 icaew.com/membershandbook.
This report is made solely to the Board of Directors of RATED LABS LTD, as a body, in accordance with the terms of our engagement letter dated 1 June 2022. Our work has been undertaken solely to prepare for your approval the accounts of RATED LABS LTD and state those matters that we have agreed to state to the Board of Directors of RATED LABS LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RATED LABS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that RATED LABS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of RATED LABS LTD. You consider that RATED LABS LTD 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 RATED LABS LTD. 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.
Vicente Kewley Accountancy Limited
Chartered Accountants
71-75 Shelton Street
London
WC2H 9JQ
12 August 2024
RATED LABS LTD
Statement of financial position
as at 30 April 2024
Tangible assets
6,466
2,777
Cash at bank and in hand
10,730,625
1,323,432
Creditors: amounts falling due within one year
(14,791)
(19,975)
Net current assets
10,735,371
1,331,507
Total assets less current liabilities
10,741,837
1,524,736
Provisions for liabilities
Net assets
10,740,221
1,523,759
Called up share capital
186
70
Share premium
12,154,177
2,140,805
Profit and loss account
(1,414,142)
(617,116)
Shareholders' funds
10,740,221
1,523,759
For the year ending 30 April 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by
Ilias Elias Simos
Director
Company Registration No. 14036060
RATED LABS LTD
Notes to the Accounts
for the year ended 30 April 2024
RATED LABS LTD is a private company, limited by shares, registered in England and Wales, registration number 14036060. The registered office is 12 NEW FETTER LANE, LONDON, ENGLAND, EC4A 1JP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
5 years for computer hardware and 3 years for computer accessories
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
The current expected corporation tax is 25%.
Deferred tax assets and liabilities are not discounted.
RATED LABS LTD
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Total
5
Average number of employees
During the year the average number of employees was 2 (2023: 2).