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Registered number: 07744581
RealmTech Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07744581
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,901 5,559
Investments 5 943 373
4,844 5,932
CURRENT ASSETS
Debtors 6 36,203 45,789
Cash at bank and in hand 87,308 73,279
123,511 119,068
Creditors: Amounts Falling Due Within One Year 7 (52,650 ) (62,934 )
NET CURRENT ASSETS (LIABILITIES) 70,861 56,134
TOTAL ASSETS LESS CURRENT LIABILITIES 75,705 62,066
Creditors: Amounts Falling Due After More Than One Year 8 (28,432 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (590 ) (1,056 )
NET ASSETS 46,683 61,010
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 46,583 60,910
SHAREHOLDERS' FUNDS 46,683 61,010
Page 1
Page 2
For the year ending 31 August 2023 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 Marcel Medvec
Director
08/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
RealmTech Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07744581 . The registered office is 18 Chard Drive, Luton, Bedfordshire, LU3 4EN.
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, excluding discounts, rebates, value added tax or other similar sales taxes.
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:
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2.6. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 2 2
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2022 2,145 34,436 36,581
Additions - 1,061 1,061
As at 31 August 2023 2,145 35,497 37,642
Depreciation
As at 1 September 2022 2,145 28,877 31,022
Provided during the period - 2,719 2,719
As at 31 August 2023 2,145 31,596 33,741
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 August 2023 - 3,901 3,901
As at 1 September 2022 - 5,559 5,559
5. Investments
Unlisted
£
Cost
As at 1 September 2022 373
Additions 570
As at 31 August 2023 943
Provision
As at 1 September 2022 -
As at 31 August 2023 -
Net Book Value
As at 31 August 2023 943
As at 1 September 2022 373
Investments are stated at market value, if listed, or at directors' valuation, if unlisted. The market value is based on the closing middle market price.
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,544 11,207
Other debtors 100 100
Director's loan account 31,721 32,644
34,365 43,951
Due after more than one year
Other debtors 1,838 1,838
36,203 45,789
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 9,086 -
Corporation tax 26,425 48,878
Other taxes and social security 1,348 2,391
VAT 11,226 6,824
Other creditors 4,565 4,841
52,650 62,934
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 28,432 -
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2022 Amounts advanced Amounts repaid Amounts written off As at 31 August 2023
£ £ £ £ £
Mr Marcel Medvec 32,644 28,082 29,005 - 31,721
The above loan is unsecured, interest free and repayable on demand.
Page 5