1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,113 1,577 9,690 3,222 1,617 4,839 4,851 4,891 23,118 140,000 163,118 163,118 23,118 xbrli:pure xbrli:shares iso4217:GBP 05664505 2023-04-01 2024-03-31 05664505 2024-03-31 05664505 2023-03-31 05664505 2022-04-01 2023-03-31 05664505 2023-03-31 05664505 2022-03-31 05664505 core:FurnitureFittings 2023-04-01 2024-03-31 05664505 bus:Director1 2023-04-01 2024-03-31 05664505 core:FurnitureFittings 2023-03-31 05664505 core:FurnitureFittings 2024-03-31 05664505 core:WithinOneYear 2024-03-31 05664505 core:WithinOneYear 2023-03-31 05664505 core:ShareCapital 2024-03-31 05664505 core:ShareCapital 2023-03-31 05664505 core:RevaluationReserve 2024-03-31 05664505 core:RetainedEarningsAccumulatedLosses 2024-03-31 05664505 core:RetainedEarningsAccumulatedLosses 2023-03-31 05664505 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 05664505 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 05664505 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 05664505 core:Non-currentFinancialInstruments 2024-03-31 05664505 core:Non-currentFinancialInstruments 2023-03-31 05664505 core:FurnitureFittings 2023-03-31 05664505 bus:Director1 2023-03-31 05664505 bus:Director1 2024-03-31 05664505 bus:Director1 2022-03-31 05664505 bus:Director1 2023-03-31 05664505 bus:Director1 2022-04-01 2023-03-31 05664505 bus:SmallEntities 2023-04-01 2024-03-31 05664505 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05664505 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05664505 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05664505 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 05664505
Reactsol Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Reactsol Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
4,851
4,891
Investments
6
163,118
23,118
---------
--------
167,969
28,009
Current assets
Debtors
7
48,563
16,865
Cash at bank and in hand
154,214
117,265
---------
---------
202,777
134,130
Creditors: amounts falling due within one year
8
139,631
104,663
---------
---------
Net current assets
63,146
29,467
---------
--------
Total assets less current liabilities
231,115
57,476
---------
--------
Net assets
231,115
57,476
---------
--------
Capital and reserves
Called up share capital
1
1
Revaluation reserve
140,000
Profit and loss account
91,114
57,475
---------
--------
Shareholders funds
231,115
57,476
---------
--------
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 statement of comprehensive income has not been delivered.
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.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Reactsol Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 20 September 2024 , and are signed on behalf of the board by:
A Mitchell
Director
Company registration number: 05664505
Reactsol Ltd
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 8th Floor, The Hyde, Hyde House, London, NW9 6LA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Fixtures and fittings
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 April 2023
8,113
Additions
1,577
-------
At 31 March 2024
9,690
-------
Depreciation
At 1 April 2023
3,222
Charge for the year
1,617
-------
At 31 March 2024
4,839
-------
Carrying amount
At 31 March 2024
4,851
-------
At 31 March 2023
4,891
-------
6. Investments
Other investments other than loans
£
Cost
At 1 April 2023
23,118
Revaluations
140,000
---------
At 31 March 2024
163,118
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
163,118
---------
At 31 March 2023
23,118
---------
7. Debtors
2024
2023
£
£
Trade debtors
48,182
16,491
Other debtors
381
374
--------
--------
48,563
16,865
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
15,370
10,535
Social security and other taxes
479
2,477
Other creditors
123,782
91,651
---------
---------
139,631
104,663
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
A Mitchell
( 88,531)
( 34,271)
( 122,802)
--------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
A Mitchell
( 5,922)
( 82,609)
( 88,531)
-------
--------
--------