Registered number
07637377
Revent Trading Ltd
Filleted Accounts
30 November 2023
Revent Trading Ltd
Registered number: 07637377
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 159,192 109,328
Investments 4 150 150
159,342 109,478
Current assets
Debtors 5 386,502 244,350
Cash at bank and in hand 8 4,443
386,510 248,793
Creditors: amounts falling due within one year 6 (444,301) (78,650)
Net current (liabilities)/assets (57,791) 170,143
Total assets less current liabilities 101,551 279,621
Creditors: amounts falling due after more than one year 7 (99,234) (203,295)
Net assets 2,317 76,326
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,217 76,226
Shareholders' funds 2,317 76,326
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Parvez Ahmad
Director
Approved by the board on 13 August 2024
Revent Trading Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and Machinery 15% Reducing Balance Method
Motor Vehicle 25% Straight Line Method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 379,139 41,547 420,686
Additions - 95,951 95,951
At 30 November 2023 379,139 137,498 516,637
Depreciation
At 1 December 2022 300,971 10,387 311,358
Charge for the year 11,712 34,375 46,087
At 30 November 2023 312,683 44,762 357,445
Net book value
At 30 November 2023 66,456 92,736 159,192
At 30 November 2022 78,168 31,160 109,328
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2022 150
At 30 November 2023 150
5 Debtors 2023 2022
£ £
Trade debtors - 49,513
Other debtors 386,502 194,837
386,502 244,350
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,526 -
Trade creditors 386,226 28,204
Taxation and social security costs 46,190 44,941
Other creditors 4,359 5,505
444,301 78,650
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 99,234 203,295
8 Other information
Revent Trading Ltd is a private company limited by shares and incorporated in England.
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