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REGISTERED NUMBER: 12926115 (England and Wales)














Financial Statements for the Year Ended 31 December 2023

for

Rvvup Ltd

Rvvup Ltd (Registered number: 12926115)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Rvvup Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr D N Nunn





REGISTERED OFFICE: 7 Savoy Court
London
WC2R 0EX





REGISTERED NUMBER: 12926115 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Rvvup Ltd (Registered number: 12926115)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 50,519 66,560

CURRENT ASSETS
Debtors 5 2,682,546 1,638,542
Cash at bank 2,684,692 8,115,110
5,367,238 9,753,652
CREDITORS
Amounts falling due within one year 6 7,714,988 7,768,712
NET CURRENT (LIABILITIES)/ASSETS (2,347,750 ) 1,984,940
TOTAL ASSETS LESS CURRENT LIABILITIES (2,297,231 ) 2,051,500

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 6,885,224 6,885,224
Retained earnings (9,182,459 ) (4,833,728 )
(2,297,231 ) 2,051,500

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.

Rvvup Ltd (Registered number: 12926115)

Statement of Financial Position - continued
31 December 2023


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

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 19 September 2024 and were signed by:





Mr D N Nunn - Director


Rvvup Ltd (Registered number: 12926115)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Rvvup 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
Revenue 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.
Fixtures and fittings - 15% on reducing balance and not provided
Computer equipment - 25% on reducing balance

Financial liabilities
The principle financial liabilities include trade and other payables and convertible debt which are classifed as financial liabilities at amortised cost.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 16 ) .

Rvvup Ltd (Registered number: 12926115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 499 93,219 93,718
Additions - 2,244 2,244
Disposals - (2,666 ) (2,666 )
At 31 December 2023 499 92,797 93,296
DEPRECIATION
At 1 January 2023 98 27,060 27,158
Charge for year 60 16,725 16,785
Eliminated on disposal - (1,166 ) (1,166 )
At 31 December 2023 158 42,619 42,777
NET BOOK VALUE
At 31 December 2023 341 50,178 50,519
At 31 December 2022 401 66,159 66,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 2,866 59
Amounts owed by associates 2,605,946 1,537,383
Other debtors 73,734 101,100
2,682,546 1,638,542

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 161,131 177,741
Taxation and social security 44,742 81,933
Other creditors 7,509,115 7,509,038
7,714,988 7,768,712

£7,500,000 of borrowings are convertible loan notes which can be settled by way of an issue of share capital.

7. RELATED PARTY DISCLOSURES

The Director Mr D N Nunn is considered to be the key management personnel.