REFRESHING LAW LIMITED

Company Registration Number:
08567482 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 1 April 2023

End date: 31 March 2024

REFRESHING LAW LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Additional notes
Balance sheet notes

REFRESHING LAW LIMITED

Balance sheet

As at 31 March 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 16,045 20,841
Total fixed assets: 16,045 20,841
Current assets
Stocks: 4 16,838 6,140
Debtors: 5 66,909 42,552
Cash at bank and in hand: 139,251 116,747
Investments: 6 109,488 86,951
Total current assets: 332,486 252,390
Creditors: amounts falling due within one year: 7 ( 75,228 ) ( 64,536 )
Net current assets (liabilities): 257,258 187,854
Total assets less current liabilities: 273,303 208,695
Provision for liabilities: ( 4,011 ) ( 3,960 )
Total net assets (liabilities): 269,292 204,735
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 269,192 204,635
Total Shareholders' funds: 269,292 204,735

The notes form part of these financial statements

REFRESHING LAW LIMITED

Balance sheet statements

For the year ending 31 March 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.

The directors acknowledge their 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 directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 25 October 2024
and signed on behalf of the board by:

Name: A Denton-Jones
Status: Director

The notes form part of these financial statements

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Revenue recognition Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

    Tangible fixed assets depreciation policy

    Depreciation Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: Asset class Depreciation method and rate Plant & Equipment 25% of cost Motor Vehicles 20% of cost Fixtures & Fittings 25% of cost

    Other accounting policies

    Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 1 1

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2023 230 9,640 31,474 41,344
Additions 3,399 3,399
Disposals ( 1,999 ) ( 1,999 )
Revaluations
Transfers
At 31 March 2024 230 11,040 31,474 42,744
Depreciation
At 1 April 2023 230 7,641 12,632 20,503
Charge for year 1,230 6,465 7,695
On disposals ( 1,499 ) ( 1,499 )
Other adjustments
At 31 March 2024 230 7,372 19,097 26,699
Net book value
At 31 March 2024 0 3,668 12,377 16,045
At 31 March 2023 0 1,999 18,842 20,841

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Stocks

2024 2023
£ £
Stocks 16,838 6,140
Total 16,838 6,140

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
£ £
Trade debtors 33,937 33,913
Prepayments and accrued income 11,038 6,457
Other debtors 21,934 2,182
Total 66,909 42,552

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Current assets investments note

Other financial assets (current and non-current) Financial assets at fair value through profit and loss £ Current financial assets Cost or valuation At 1 April 2023 86,951 Fair value adjustments (4,462) Additions 27,974 Disposals (975) At 31 March 2024 109,488 Impairment Carrying amount At 31 March 2024 109,488

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 254 78
Taxation and social security 73,203 54,464
Accruals and deferred income 1,771 2,231
Other creditors 7,763
Total 75,228 64,536

REFRESHING LAW LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

8. Loans to directors

Name of director receiving advance or credit: Mrs A Denton-Jones
Description of the transaction:
Loan
£
Balance at 31 March 2023
Advances or credits made: 116,931
Advances or credits repaid: 94,994
Balance at 31 March 2024 21,937