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Registered number: 08383416
Rfactory Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Ascot Sinclair Associates Ltd
Chartered Certified Accountants
Avondale House
262 Uxbridge Road
Hatch End
Middlesex
HA5 4HS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08383416
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,110 1,004
Investments 5 402 -
2,512 1,004
CURRENT ASSETS
Debtors 6 993 843
Cash at bank and in hand 5,600 3,713
6,593 4,556
Creditors: Amounts Falling Due Within One Year 7 (59,861 ) (55,690 )
NET CURRENT ASSETS (LIABILITIES) (53,268 ) (51,134 )
TOTAL ASSETS LESS CURRENT LIABILITIES (50,756 ) (50,130 )
NET LIABILITIES (50,756 ) (50,130 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (50,856 ) (50,230 )
SHAREHOLDERS' FUNDS (50,756) (50,130)
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Sonal Darbar
Director
Mr Jeffrey Boccaccio
Director
13/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rfactory Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08383416 . The registered office is Avondale House, 262 Uxbridge Road, Hatch End, HA5 4HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 25% Reducing balance
2.4. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 3,775 312 4,087
Additions 1,439 - 1,439
As at 31 December 2023 5,214 312 5,526
Depreciation
As at 1 January 2023 2,947 136 3,083
Provided during the period 275 58 333
As at 31 December 2023 3,222 194 3,416
...CONTINUED
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Net Book Value
As at 31 December 2023 1,992 118 2,110
As at 1 January 2023 828 176 1,004
5. Investments
Listed
£
Cost
As at 1 January 2023 -
Additions 402
As at 31 December 2023 402
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 402
As at 1 January 2023 -
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 667 667
VAT 326 176
993 843
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Bank loans and overdrafts 486 -
Other taxes and social security 70 717
Other creditors 590 -
Other creditors (1) - Out of Pocket Expenses Claim 279 114
Accruals and deferred income 100 -
Directors' loan accounts 58,337 54,859
59,861 55,690
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4