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Company Registration No. 07735089 (England and Wales)
REVTRONIC LIMITED Unaudited accounts for the year ended 31 August 2023
REVTRONIC LIMITED Unaudited accounts Contents
Page
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REVTRONIC LIMITED Company Information for the year ended 31 August 2023
Directors
Sohail RASHID Mohammed Sajjad RASHID
Company Number
07735089 (England and Wales)
Registered Office
46 LISTERHILLS ROAD BRADFORD WEST YORKSHIRE BD7 1HT
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
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REVTRONIC LIMITED Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
31,500 
31,500 
Tangible assets
28,634 
31,762 
60,134 
63,262 
Current assets
Inventories
2,570 
6,598 
Debtors
5,945 
- 
Cash at bank and in hand
809,703 
453,358 
818,218 
459,956 
Creditors: amounts falling due within one year
(462,007)
(126,370)
Net current assets
356,211 
333,586 
Total assets less current liabilities
416,345 
396,848 
Creditors: amounts falling due after more than one year
(51,056)
(50,000)
Net assets
365,289 
346,848 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
365,189 
346,748 
Shareholders' funds
365,289 
346,848 
For the year ending 31 August 2023 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 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 29 May 2024 and were signed on its behalf by
Mohammed Sajjad RASHID Director Company Registration No. 07735089
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REVTRONIC LIMITED Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
REVTRONIC LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07735089. The registered office is 46 LISTERHILLS ROAD, BRADFORD, WEST YORKSHIRE, BD7 1HT.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
10% diminishing balancing 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
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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
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REVTRONIC LIMITED Notes to the Accounts for the year ended 31 August 2023
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Government grants Covid 19
Government grants in relation to job retention scheme are credited to profit and loss account , whereas those in relation to expenditure are charged to profit and loss. Also, local council grants are received in terms of Covid-19 pandemic are credit to profit and loss account under other operating expenses, whereas all fixed cost against these are debited in the profit and loss account too.
Trading activities are
repair of electrical equipment especially motor cars electronic equipment.
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REVTRONIC LIMITED Notes to the Accounts for the year ended 31 August 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 September 2022
31,500 
At 31 August 2023
31,500 
Amortisation
At 1 September 2022
- 
At 31 August 2023
- 
Net book value
At 31 August 2023
31,500 
At 31 August 2022
31,500 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 September 2022
34,547 
10,275 
- 
44,822 
Additions
- 
- 
881 
881 
At 31 August 2023
34,547 
10,275 
881 
45,703 
Depreciation
At 1 September 2022
9,361 
3,699 
- 
13,060 
Charge for the year
2,518 
1,315 
176 
4,009 
At 31 August 2023
11,879 
5,014 
176 
17,069 
Net book value
At 31 August 2023
22,668 
5,261 
705 
28,634 
At 31 August 2022
25,186 
6,576 
- 
31,762 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,945 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
32,987 
28,296 
Trade creditors
85,636 
81,886 
Taxes and social security
50,790 
16,188 
Loans from directors
292,094 
- 
Accruals
500 
- 
462,007 
126,370 
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REVTRONIC LIMITED Notes to the Accounts for the year ended 31 August 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
51,056 
50,000 
9
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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