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Registered number: 11263556
RABBITEAR Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Berrywood Accountants
The New Studio
Wintershill Farm
Wintershill, Durley
Hampshire
SO32 2AH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11263556
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 14,735 9,037
24,735 19,037
CURRENT ASSETS
Debtors 6 1,602 -
Cash at bank and in hand 8,255 3,877
9,857 3,877
Creditors: Amounts Falling Due Within One Year 7 (1,051 ) (1,533 )
NET CURRENT ASSETS (LIABILITIES) 8,806 2,344
TOTAL ASSETS LESS CURRENT LIABILITIES 33,541 21,381
Creditors: Amounts Falling Due After More Than One Year 8 (18,520 ) (17,661 )
NET ASSETS 15,021 3,720
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 14,921 3,620
SHAREHOLDERS' FUNDS 15,021 3,720
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Peter Steward
Director
12/09/2024
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
RABBITEAR Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11263556 . The registered office is 68 High Street High Street, Fareham, Hampshire, PO16 7BB.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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
Motor Vehicles 20% Reducing Balance
Computer Equipment 3 Years Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Net Book Value
As at 31 March 2024 10,000
As at 1 April 2023 10,000
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Page 4
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 30,239 3,500 2,200 35,939
Additions - 8,045 - 8,045
As at 31 March 2024 30,239 11,545 2,200 43,984
Depreciation
As at 1 April 2023 22,476 2,353 2,073 26,902
Provided during the period 1,941 364 42 2,347
As at 31 March 2024 24,417 2,717 2,115 29,249
Net Book Value
As at 31 March 2024 5,822 8,828 85 14,735
As at 1 April 2023 7,763 1,147 127 9,037
6. Debtors
2024 2023
£ £
Due within one year
VAT 1,602 -
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 1
VAT - 532
Accruals and deferred income 1,050 1,000
1,051 1,533
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 18,520 17,661
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 1,000 2,000
Page 4