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Registered number: 12412218
Rasei Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
RJF Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12412218
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,767 37,406
Tangible Assets 5 2,600 1,479
10,367 38,885
CURRENT ASSETS
Debtors 6 71,720 50,373
Cash at bank and in hand 35,215 22,784
106,935 73,157
Creditors: Amounts Falling Due Within One Year 7 (468,797 ) (213,578 )
NET CURRENT ASSETS (LIABILITIES) (361,862 ) (140,421 )
TOTAL ASSETS LESS CURRENT LIABILITIES (351,495 ) (101,536 )
NET LIABILITIES (351,495 ) (101,536 )
CAPITAL AND RESERVES
Called up share capital 8 1,009 1,090
Share premium account 44,191 44,110
Profit and Loss Account (396,695 ) (146,736 )
SHAREHOLDERS' FUNDS (351,495) (101,536)
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Page 2
For the year ending 30 June 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 Stuart Abbott
Director
28/10/2024
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
Rasei Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12412218 . The registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.
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 - Other Intangible
Other intangible assets are patents. It is amortised to profit and loss account over its estimated economic life of 4 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:
Fixtures & Fittings 3 years straight line
Computer Equipment 3 years straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Intangible Assets
Other
£
Cost
As at 1 July 2023 41,336
As at 30 June 2024 41,336
Amortisation
As at 1 July 2023 3,930
Provided during the period 29,639
As at 30 June 2024 33,569
Net Book Value
As at 30 June 2024 7,767
As at 1 July 2023 37,406
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 - 2,601 2,601
Additions 608 1,846 2,454
As at 30 June 2024 608 4,447 5,055
Depreciation
As at 1 July 2023 - 1,122 1,122
Provided during the period 118 1,215 1,333
As at 30 June 2024 118 2,337 2,455
Net Book Value
As at 30 June 2024 490 2,110 2,600
As at 1 July 2023 - 1,479 1,479
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 14,829 -
R&D tax credit - 50,313
VAT 2,548 -
Net wages - 60
Director's loan account 54,343 -
71,720 50,373
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 24,658 9,963
Other loans - 59,906
Other taxes and social security 107,484 108,408
VAT - 5,696
Net wages 400 -
Other creditors 249,985 -
Pensions Payable 63 168
Capital On Tap Credit Card 9,770 4,659
Accruals and deferred income 22,094 18,735
Director's loan account 54,343 6,043
468,797 213,578
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,009 1,090
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Stuart Abbott 6,043 93,384 45,084 - 54,343
The above loan is unsecured, interest free and repayable on demand.
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