IRIS Accounts Production v24.2.0.383 05395227 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053952272022-12-31053952272023-12-31053952272023-01-012023-12-31053952272021-12-31053952272022-01-012022-12-31053952272022-12-3105395227ns15:EnglandWales2023-01-012023-12-3105395227ns14:PoundSterling2023-01-012023-12-3105395227ns10:Director12023-01-012023-12-3105395227ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105395227ns10:SmallEntities2023-01-012023-12-3105395227ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105395227ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105395227ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105395227ns10:AbridgedAccounts2023-01-012023-12-3105395227ns10:CompanySecretary12023-01-012023-12-3105395227ns10:RegisteredOffice2023-01-012023-12-3105395227ns5:CurrentFinancialInstruments2023-12-3105395227ns5:CurrentFinancialInstruments2022-12-3105395227ns5:ShareCapital2023-12-3105395227ns5:ShareCapital2022-12-3105395227ns5:RetainedEarningsAccumulatedLosses2023-12-3105395227ns5:RetainedEarningsAccumulatedLosses2022-12-3105395227ns5:PlantMachinery2023-01-012023-12-31053952271ns10:Director12022-12-31053952271ns10:Director12021-12-31053952271ns10:Director12023-01-012023-12-31053952271ns10:Director12022-01-012022-12-31053952271ns10:Director12023-12-31053952271ns10:Director12022-12-31
REGISTERED NUMBER: 05395227 (England and Wales)













Financial Statements

for the Year Ended 31 December 2023

for

Refinity Ltd

Refinity Ltd (Registered number: 05395227)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Refinity Ltd

Company Information
for the year ended 31 December 2023







DIRECTOR: Mr S Barkes



SECRETARY: Mrs D J Barkes



REGISTERED OFFICE: 41 Moor Lane
North Hykeham
LINCOLN
Lincolnshire
LN6 9AE



REGISTERED NUMBER: 05395227 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: Barclays Bank
LEICESTER
LE87 2BB

Refinity Ltd (Registered number: 05395227)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,820 5,675

CURRENT ASSETS
Debtors 17,475 28,331
Cash at bank 7,576 5,025
25,051 33,356
CREDITORS
Amounts falling due within one year 8,717 7,540
NET CURRENT ASSETS 16,334 25,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,154

31,491

PROVISIONS FOR LIABILITIES 727 1,078
NET ASSETS 19,427 30,413

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 19,426 30,412
19,427 30,413

Refinity Ltd (Registered number: 05395227)

Abridged Statement of Financial Position - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





Mr S Barkes - Director


Refinity Ltd (Registered number: 05395227)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Refinity Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measures at the present value of future payments, discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Refinity Ltd (Registered number: 05395227)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 10,472
Disposals (1,889 )
At 31 December 2023 8,583
DEPRECIATION
At 1 January 2023 4,797
Charge for year 1,274
Eliminated on disposal (1,308 )
At 31 December 2023 4,763
NET BOOK VALUE
At 31 December 2023 3,820
At 31 December 2022 5,675

Refinity Ltd (Registered number: 05395227)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr S Barkes
Balance outstanding at start of year 28,211 3,492
Amounts advanced 68,183 35,047
Amounts repaid (57,546 ) (10,328 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 38,848 28,211

This is unsecured, repayable on demand and interest is charged at the official rate of interest.