Registered number
13289778
Raise2Shine Ltd
Unaudited Filleted Accounts For The Period Ended
31 March 2024
Raise2Shine Ltd
Registered number: 13289778
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 600 900
Tangible assets 4 9,972 13,296
10,572 14,196
Current assets
Debtors 5 165 1,576
Cash at bank and in hand 914 230
1,079 1,806
Creditors: amounts falling due within one year 6 (31,698) (29,101)
Net current liabilities (30,619) (27,295)
Total assets less current liabilities (20,047) (13,099)
Net liabilities (20,047) (13,099)
Capital and reserves
Called up share capital 1 1
Profit and loss account (20,048) (13,100)
Shareholders' funds (20,047) (13,099)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H Scott
Director
Approved by the board on 1 September 2024
Raise2Shine Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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 are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 20% straight line
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.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 1,500
At 31 March 2024 1,500
Amortisation
At 1 April 2023 600
Provided during the year 300
At 31 March 2024 900
Net book value
At 31 March 2024 600
At 31 March 2023 900
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Total
£ £
Cost
At 1 April 2023 23,449 23,449
At 31 March 2024 23,449 23,449
Depreciation
At 1 April 2023 10,153 10,153
Charge for the year 3,324 3,324
At 31 March 2024 13,477 13,477
Net book value
At 31 March 2024 9,972 9,972
At 31 March 2023 13,296 13,296
5 Debtors 2024 2023
£ £
Other debtors 165 1,576
165 1,576
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 31,698 29,101
31,698 29,101
Other creditors include an amount owed to the director, H Scott, listed in note 7 below.
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
H Scott
Directors loan (28,338) (2,898) - (31,236)
(28,338) (2,898) - (31,236)
8 Other information
Raise2Shine Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o Office 3.01
Baltimore House
Baltic Business Quarter
Gateshead
NE8 3DF
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