Company Registration No. 13864162 (England and Wales)
Ravio Technologies Ltd
Unaudited accounts
for the year ended 31 December 2023
Ravio Technologies Ltd
Unaudited accounts
Contents
Ravio Technologies Ltd
Company Information
for the year ended 31 December 2023
Directors
Merten Wulfert
Raymond Scott Siems
Roy Fouad Blanga
Company Number
13864162 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Ravio Technologies Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
86,994
125,214
Cash at bank and in hand
4,817,769
5,592,776
Creditors: amounts falling due within one year
(398,281)
(132,827)
Net current assets
4,748,374
5,537,762
Total assets less current liabilities
4,835,368
5,662,976
Creditors: amounts falling due after more than one year
(4,000,000)
-
Net assets
835,368
5,662,976
Called up share capital
1,295
1,291
Share premium
7,637,057
7,549,562
Capital contribution reserve
-
17,499
Profit and loss account
(6,802,984)
(1,905,376)
Shareholders' funds
835,368
5,662,976
For the year ending 31 December 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 22 August 2024 and were signed on its behalf by
Merten Wulfert
Director
Company Registration No. 13864162
Ravio Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2023
Ravio Technologies Ltd is a private company, limited by shares, registered in England and Wales, registration number 13864162. The registered office is 71-75 Shelton Street, London, WC2H 9JQ, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
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.
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:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit
During the financial year, Ravio Technologies Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Ravio Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
78,220
53,698
131,918
Additions
26,240
25,279
51,519
Disposals
(59,722)
-
(59,722)
At 31 December 2023
44,738
78,977
123,715
At 1 January 2023
2,073
4,631
6,704
Charge for the year
12,180
18,919
31,099
On disposals
(1,082)
-
(1,082)
At 31 December 2023
13,171
23,550
36,721
At 31 December 2023
31,567
55,427
86,994
At 31 December 2022
76,147
49,067
125,214
Amounts falling due within one year
Accrued income and prepayments
89,444
-
Other debtors
153,083
25,868
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
28,509
93,891
Other creditors
57,813
29,339
Loans from directors
-
(1)
Ravio Technologies Ltd
Notes to the Accounts
for the year ended 31 December 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
4,000,000
-
8
Average number of employees
During the year the average number of employees was 32 (2022: 9).