Company registration number 04438164 (England and Wales)
REVIVAL GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
REVIVAL GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
REVIVAL GROUP LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
4
4,939,795
4,939,795
Current assets
Debtors
6
24,380
24,380
Creditors: amounts falling due within one year
7
(4,962,734)
(4,962,734)
Net current liabilities
(4,938,354)
(4,938,354)
Net assets
1,441
1,441
Capital and reserves
Called up share capital
8
1,032
1,032
Share premium account
349
349
Profit and loss reserves
60
60
Total equity
1,441
1,441
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
REVIVAL GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 September 2024 and are signed on its behalf by:
T Owen
P Hayman
Director
Director
Company registration number 04438164 (England and Wales)
REVIVAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Revival Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 66 High Street, Aylesbury, HP20 1SE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
Revival Group Limited is a wholly owned subsidiary of MAGroup Limited and the results of Revival Group Limited are included in the consolidated financial statements of MAGroup Limited which are available from 66 High Street, Aylesbury, HP20 1SE.
1.2
Fixed asset investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
REVIVAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There are no estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
4,939,795
4,939,795
5
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
REPC Solutions Limited
England and Wales
Ordinary
100.00
Revival Commercial Limited
England and Wales
Ordinary
100.00
The Revival Company (Gloucester) Limited
England and Wales
Ordinary
100.00
The Revival Company (Oxford) Limited
England and Wales
Ordinary
100.00
The Revival Company (UK) Limited
England and Wales
Ordinary
100.00
Revival Blue Limited
England and Wales
Ordinary
100.00
REVIVAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
24,380
24,380
7
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
4,962,734
4,962,734
8
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary A shares of 10p each
1,000
1,000
6 Arepa shares of 10p each
1
1
309 Ordinary B shares of 10p each
31
31
1,032
1,032
Ordinary A shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.
Arepa shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption. The holder is not entitled to attend or vote at general meetings. The future value of the Arepa shares is based solely upon the performance of Revival Commercial Limited (formerly Arepa (UK) Limited).
Ordinary B shares have attached to them full voting, dividend and capital distribution (including on winding up) rights; they do not confer any rights of redemption.
9
Related party transactions
The company is a wholly owned subsidiary of MAGroup Limited. As the parent produces consolidated financial statements the company has taken advantage of the exemption not to disclose transactions with other wholly owned group companies.
REVIVAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
10
Parent company
The immediate and ultimate parent company is MAGroup Limited, a company incorporated in England and Wales.
The ultimate controlling party is P Hayman who owns a majority of the shares in MAGroup Limited.
The name of the smallest and largest group into which the company is consolidated is MAGroup Limited.