12479734 2023-03-01 2024-02-29 12479734 uk-bus:Director1 2023-03-01 2024-02-29 12479734 uk-bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12479734 uk-bus:SmallEntities 2023-03-01 2024-02-29 12479734 uk-bus:FullAccounts 2023-03-01 2024-02-29 12479734 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12479734 2023-03-01 12479734 2024-02-29 12479734 2022-03-01 2023-02-28 12479734 2023-02-28 xbrli:pure iso4217:GBP 12479734 2022-03-01 2023-02-28
Company Registration Number : 12479734 (England and Wales)
12479734
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-02-29
false
RHEMA LOUNGE LTD
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2023-03-01
RHEMA LOUNGE LTD
Unaudited financial statements and annual report
For the year ended 29 February 2024
RHEMA LOUNGE LTD
Contents
For the year ended 29 February 2024

CONTENTS PAGE
Company Information 3
Director's Report 4
Director's Responsibilities Statement
Accountant's Report 5
Income Statement 6
Statement of Financial Position 7
Notes to the Financial Statements 8 - 10


RHEMA LOUNGE LTD
Company Information
For the year ended 29 February 2024

Company registration number 12479734 (England and Wales)
Director Temitope PETERS
Registered office address 4th Floor 18 St Cross Street
London
EC1N 8UN
Accountant












Accountant





RHEMA LOUNGE LTD
Director's Report
For the year ended 29 February 2024

The director presents his/her report and the Unaudited Financial Statements for the year ended 29 February 2024.
Director of the company
The following directors held office during the whole of the period:
Temitope PETERS
Statement of director's responsibilities
The directors are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare such financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), FRS 102 1A.
Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to;
-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;and
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Board of directors and signed on its behalf by:
Temitope PETERS (Director)
Date: 23 October 2024
This report was approved by the board on 2024-10-23 Date: 23 October 2024
RHEMA LOUNGE LTD
Accountant's report
For the year ended 29 February 2024

Accountant's Report to the board of directors on the preparation of the unaudited statutory accounts of RHEMA LOUNGE LTD for the year ended 29 February 2024.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of RHEMA LOUNGE LTD for the year ended 29 February 2024.


We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on these financial statements.


You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.


The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.






2024-10-23 Date: 23 October 2024
5
RHEMA LOUNGE LTD
Income Statement
For the year ended 29 February 2024

2024 2023
Notes £ £
Turnover 5 13,240 12,182
Cost of sales (109) (371)
Gross profit 13,131 11,812
Selling and distribution expenses (823) (144)
Administrative expenses (14,277) (13,731)
Operating loss 6 (1,969) (2,063)
Loss on ordinary activities before taxation (1,969) (2,063)
Tax - (359)
Loss for the year (1,969) (2,422)
/* == Copy of Frs105 Profit Loss for XML COntent ============================================================ */
Profit and loss account
2024 2023
£ £
RHEMA LOUNGE LTD
Statement of Financial Position
For the year ended 29 February 2024

2024 2023
Notes £ £
Current assets
Debtors 9 - 721
Cash and cash equivalents 10 - 686
- 1,407
Current liabilities
Creditors: Amounts falling due within one year 11 (5,347) (3,785)
(5,347) (3,785)
Net current (liabilities)/assets (5,347) (2,378)
Total assets less current liabilities (5,347) (2,378)
Net (liabilities)/assets (5,347) (2,378)
Capital and reserves
Called up share capital 12 1 1
Retained earnings (5,348) (2,379)
Shareholder's funds (5,347) (2,378)
For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
  • For the year ended 29 February 2024 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 director acknowledges their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 23 October 2024
.............................
Temitope PETERS (Director)
Company registration number: 12479734
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-02-29 29 February 2024
2024 2023
£ £
Current Assets 0 1,407
Creditors: amounts falling due within one year (5,347) (3,785)
Net current assets (liabilities) (5,347) (2,378)
Total assets less current liabilities (5,347) (2,378)
Net Assets (liabilities) (5,347) (2,378)
Capital and Reserves (5,347) (2,378)
For the year ending 29/02/2024 the company was entitled to exemption 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. For the year ending 29-02-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the small companies provisions and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.
Approved by the board of directors on 23 October 2024 2024-10-23 and signed on behalf of the board,
.............................
Temitope PETERS
Director
Company registration number: 12479734
RHEMA LOUNGE LTD
Notes to the Financial Statements
For the year ended 29 February 2024

(1) General Information
RHEMA LOUNGE LTD is a private company limited by shares, domiciled and incorporated in England and Wales. Its registered office is Petronne House, 31 Church Street, Dagenham RM10 9UR.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies regime.
Basis of Preparation
The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Sale of goods
Sales of goods are recognised when the company has delivered the goods to the customer, no other significant obligation remains unfulfilled that may affect the customer's acceptance of the products and risks and rewards of ownership have transferred to them.
Rendering of Services
Revenue from provision of services rendered in the reporting period is recognised when the outcome of a transaction for the rendering of services can be estimated reliably in terms of revenue, costs and its stage of completion of the specific transaction at the end of the reporting period. The stage of completion is determined on the basis of the actual completion of a proportion of the total services to be rendered. When the outcome of a service contract cannot be estimated reliably the company only recognises revenue to the extent of the recoverable expenses recognised.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current Tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

(4) Critical accounting judgements and key sources of estimation uncertainty
No judgement
No significant judgements or estimates have been made in preparation of these financial statements.

(5) Turnover
The revenue from company's operations comprise:
2024 2023
£ £
Sales 13,241 12,183
13,241 12,183

(6) Operating profit
Operating profit for the year from continuing operations has been arrived after charging:
2024 2023
£ £
Director's remuneration 9,096 9,070
9,096 9,070

(7) Employees
During the year, the average number of employees including director was 0 (2023 : 0).

The above numbers are averages for the year and calculated on a full-time equivalent basis. The aggregate payroll costs of the above were:
2024 2023
£ £
Wages and salaries 9,096 9,070
9,096 9,070

(8) Tax
Current tax
2024 2023
£ £
Corporation tax charge for current year - 359
Total current tax - 359

(9) Debtors
Amounts falling due within one year
2024 2023
£ £
Other debtors - 721
- 721

(10) Cash and cash equivalents
2024 2023
£ £
Bank balance - 686
- 686

(11) Creditors: Amounts falling due within one year
2024 2023
£ £
Other creditors 4,988 2,827
Accruals and deferred income 359 959
5,347 3,786

(12) Share capital and reserves
Alloted, called up and fully paid: 2024 2023
£ £
1 (2023 : 1) Ordinary Shares of £ 1 each11
1 1
Ordinary shares hold equal voting rights.
Retained earnings 2024
£
At 1 March 2023 (2,379)
Loss of the year (1,969)
Dividends paid (1,000)
At 29 February 2024 (5,348)