2 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 10203331 2023-04-01 2024-03-31 10203331 2024-03-31 10203331 2023-03-31 10203331 2022-04-01 2023-03-31 10203331 2023-03-31 10203331 2022-03-31 10203331 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10203331 bus:Director1 2023-04-01 2024-03-31 10203331 core:FurnitureFittingsToolsEquipment 2023-03-31 10203331 core:FurnitureFittingsToolsEquipment 2024-03-31 10203331 core:WithinOneYear 2024-03-31 10203331 core:WithinOneYear 2023-03-31 10203331 core:ShareCapital 2024-03-31 10203331 core:ShareCapital 2023-03-31 10203331 core:RetainedEarningsAccumulatedLosses 2024-03-31 10203331 core:RetainedEarningsAccumulatedLosses 2023-03-31 10203331 core:FurnitureFittingsToolsEquipment 2023-03-31 10203331 bus:SmallEntities 2023-04-01 2024-03-31 10203331 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10203331 bus:FullAccounts 2023-04-01 2024-03-31 10203331 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10203331 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31
Company registration number: 10203331
Reverso Consultancy Limited
Unaudited filleted financial statements
31 March 2024
Reverso Consultancy Limited
Contents
Balance sheet
Notes to the financial statements
Reverso Consultancy Limited
Balance sheet
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 262 572
_______ _______
262 572
Current assets
Debtors 6 11,160 354,000
Cash at bank and in hand 482,383 319,583
_______ _______
493,543 673,583
Creditors: amounts falling due
within one year 7 ( 28,433) ( 196,268)
_______ _______
Net current assets 465,110 477,315
_______ _______
Total assets less current liabilities 465,372 477,887
_______ _______
Net assets 465,372 477,887
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 465,362 477,877
_______ _______
Shareholders funds 465,372 477,887
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 May 2024 , and are signed on behalf of the board by:
R Mallon
Director
Company registration number: 10203331
Reverso Consultancy Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Musgrave Garden Lane, Wynyard, Billingham, TS22 5TR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2023 and 31 March 2024 3,288 3,288
_______ _______
Depreciation
At 1 April 2023 2,716 2,716
Charge for the year 310 310
_______ _______
At 31 March 2024 3,026 3,026
_______ _______
Carrying amount
At 31 March 2024 262 262
_______ _______
At 31 March 2023 572 572
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 9,960 354,000
Other debtors 1,200 -
_______ _______
11,160 354,000
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 10,249 79,694
Social security and other taxes 7,930 63,790
Other creditors 10,254 52,784
_______ _______
28,433 196,268
_______ _______
8. Directors advances, credits and guarantees
There were no directors' advances, credits or guarantees in the year.