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Company No: 05535280 (England and Wales)

REMARKABLE INTERNATIONAL LIMITED

Unaudited Financial Statements
For the financial period from 01 September 2022 to 31 December 2023
Pages for filing with the registrar

REMARKABLE INTERNATIONAL LIMITED

Unaudited Financial Statements

For the financial period from 01 September 2022 to 31 December 2023

Contents

REMARKABLE INTERNATIONAL LIMITED

BALANCE SHEET

As at 31 December 2023
REMARKABLE INTERNATIONAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 31.12.2023 31.08.2022
£ £
Fixed assets
Tangible assets 3 351,433 207,295
351,433 207,295
Current assets
Stocks 87,588 90,909
Debtors 4 113,733 25,592
Cash at bank and in hand 380,094 694,176
581,415 810,677
Creditors: amounts falling due within one year 5 ( 78,284) ( 206,965)
Net current assets 503,131 603,712
Total assets less current liabilities 854,564 811,007
Creditors: amounts falling due after more than one year 6 ( 1,188,808) ( 1,964,945)
Provision for liabilities 7 ( 57,330) 0
Net liabilities ( 391,574) ( 1,153,938)
Capital and reserves
Called-up share capital 1 1
Profit and loss account ( 391,575 ) ( 1,153,939 )
Total shareholder's deficit ( 391,574) ( 1,153,938)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Remarkable International Limited (registered number: 05535280) were approved and authorised for issue by the Director on 20 August 2024. They were signed on its behalf by:

M S J Holt
Director
REMARKABLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2022 to 31 December 2023
REMARKABLE INTERNATIONAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 September 2022 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Remarkable International Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is P.O. Box 14696, Dubai, UAE.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements for this accounting period have been prepared for a longer period of 16 months, to bring the financial reporting in closer alignment with associated companies.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 - 33 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Other creditors

Other creditors are recorded at fair value and are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2. Employees

Period from
01.09.2022 to
31.12.2023
Year ended
31.08.2022
Number Number
Monthly average number of persons employed by the Company during the period, including the director 55 37

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 September 2022 246,378 236,990 161,406 644,774
Additions 163,970 109,825 14,568 288,363
Disposals ( 34,254) ( 24,243) ( 40,352) ( 98,849)
At 31 December 2023 376,094 322,572 135,622 834,288
Accumulated depreciation
At 01 September 2022 182,111 115,210 140,158 437,479
Charge for the financial period 52,987 58,078 14,631 125,696
Disposals ( 27,814) ( 18,490) ( 34,016) ( 80,320)
At 31 December 2023 207,284 154,798 120,773 482,855
Net book value
At 31 December 2023 168,810 167,774 14,849 351,433
At 31 August 2022 64,267 121,780 21,248 207,295

4. Debtors

31.12.2023 31.08.2022
£ £
Trade debtors 94,713 4,753
Other debtors 19,020 20,839
113,733 25,592

5. Creditors: amounts falling due within one year

31.12.2023 31.08.2022
£ £
Trade creditors 69,147 193,208
Other taxation and social security 6,238 3,754
Other creditors 2,899 10,003
78,284 206,965

6. Creditors: amounts falling due after more than one year

31.12.2023 31.08.2022
£ £
Other creditors 1,188,808 1,964,945

There are no amounts included above in respect of which any security has been given by the small entity.

7. Provision for liabilities

31.12.2023 31.08.2022
£ £
Deferred tax 57,330 0

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

31.12.2023 31.08.2022
£ £
within one year 40,668 117,534