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Company registration number: 05701786
Ranieri Public Relations Limited
Unaudited filleted financial statements
31 December 2023
Ranieri Public Relations Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Ranieri Public Relations Limited
Directors and other information
Director P R Ranieri
Company number 05701786
Registered office Westgate House
9 Holborn
London
EC1N 2LL
Ranieri Public Relations Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 3,375 4,875
Tangible assets 6 6,824 11,115
_______ _______
10,199 15,990
Current assets
Debtors 7 433,207 290,491
Cash at bank and in hand 12,634 7,685
_______ _______
445,841 298,176
Creditors: amounts falling due
within one year 8 ( 812,568) ( 592,122)
_______ _______
Net current liabilities ( 366,727) ( 293,946)
_______ _______
Total assets less current liabilities ( 356,528) ( 277,956)
Creditors: amounts falling due
after more than one year 9 ( 14,167) ( 24,167)
_______ _______
Net liabilities ( 370,695) ( 302,123)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 370,795) ( 302,223)
_______ _______
Shareholders deficit ( 370,695) ( 302,123)
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
P R Ranieri
Director
Company registration number: 05701786
Ranieri Public Relations Limited
Statement of changes in equity
Year ended 31 December 2023
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2022 (as previously reported) 100 ( 45,522) ( 45,422)
Prior period adjustments (-) (224,961) (224,961)
_______ _______ _______
At 1 January 2022 (restated) 100 ( 270,483) (270,383)
Loss for the year ( 31,740) ( 31,740)
_______ _______ _______
Total comprehensive income for the year - ( 31,740) ( 31,740)
_______ _______ _______
At 31 December 2022 and 1 January 2023 100 ( 302,223) ( 302,123)
Loss for the year ( 68,572) ( 68,572)
_______ _______ _______
Total comprehensive income for the year - ( 68,572) ( 68,572)
_______ _______ _______
At 31 December 2023 100 ( 370,795) ( 370,695)
_______ _______ _______
Ranieri Public Relations Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Westgate House, 9 Holborn, London, EC1N 2LL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 13 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 30,000 30,000
_______ _______
Amortisation
At 1 January 2023 25,125 25,125
Charge for the year 1,500 1,500
_______ _______
At 31 December 2023 26,625 26,625
_______ _______
Carrying amount
At 31 December 2023 3,375 3,375
_______ _______
At 31 December 2022 4,875 4,875
_______ _______
6. Tangible assets
Equipment Total
£ £
Cost
At 1 January 2023 and 31 December 2023 63,012 63,012
_______ _______
Depreciation
At 1 January 2023 51,897 51,897
Charge for the year 4,291 4,291
_______ _______
At 31 December 2023 56,188 56,188
_______ _______
Carrying amount
At 31 December 2023 6,824 6,824
_______ _______
At 31 December 2022 11,115 11,115
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 203,096 175,979
Amounts owed by group undertakings and undertakings in which the company has a participating interest 137,495 86,674
Other debtors 92,616 27,838
_______ _______
433,207 290,491
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 213,594 22,281
Trade creditors 335,134 255,086
Corporation tax 18,731 362
Social security and other taxes 172,634 265,642
Other creditors 72,475 48,751
_______ _______
812,568 592,122
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 14,167 24,167
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
P R Ranieri 27,347 55,611 82,958
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
P R Ranieri 32,560 ( 5,213) 27,347
_______ _______ _______
11. Controlling party
The reporting entity is wholly owned by Ranieri Agency Limited, a company registered in England and Wales, whose address is at Westgate House, 9 Holborn, London, EC1N 2LL.