Registered number
01030298
Refax Limited
Unaudited Filleted Accounts
31 March 2024
Refax Limited
Registered number: 01030298
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1 1
Current assets
Debtors 4 1,000,735 1,000,736
Cash at bank and in hand 686,804 675,376
1,687,539 1,676,112
Creditors: amounts falling due within one year 5 (11,905) (10,160)
Net current assets 1,675,634 1,665,952
Total assets less current liabilities 1,675,635 1,665,953
Creditors: amounts falling due after more than one year 6 (49,000) (49,000)
Net assets 1,626,635 1,616,953
Capital and reserves
Called up share capital 74,100 74,100
Profit and loss account 1,552,535 1,542,853
Shareholder's funds 1,626,635 1,616,953
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Rowan
Director
Approved by the board on 10 October 2024
Refax Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Office equipment
£
Cost
At 1 April 2023 2,759
At 31 March 2024 2,759
Depreciation
At 1 April 2023 2,758
At 31 March 2024 2,758
Net book value
At 31 March 2024 1
At 31 March 2023 1
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 999,351 999,351
Other debtors 1,384 1,385
1,000,735 1,000,736
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 3,227 1,482
Other creditors 8,678 8,678
11,905 10,160
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares 49,000 49,000
7 Controlling party
Flame Management Limited, whose registered office and principal place of business is at 4 Napier Place, London W14 8LG, is the parent undertaking.
8 Other information
Refax Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Napier Place
London
W14 8LG
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