Registered number
13201862
Rank With Text Ltd
Filleted Accounts
29 February 2024
Rank With Text Ltd
Registered number: 13201862
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 393 784
Current assets
Debtors 4 - 313
Cash at bank and in hand 1,001 418
1,001 731
Creditors: amounts falling due within one year 5 (6,892) (3,284)
Net current liabilities (5,891) (2,553)
Net liabilities (5,498) (1,769)
Capital and reserves
Called up share capital 1 1
Profit and loss account (5,499) (1,770)
Shareholder's funds (5,498) (1,769)
The director is 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 director acknowledges his 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.
Simon Byrne
Director
Approved by the board on 22 October 2024
Rank With Text Ltd
Notes to the Accounts
for the year ended 29 February 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).
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 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.
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:
Computer Equipment over 3 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 1,175
At 29 February 2024 1,175
Depreciation
At 1 March 2023 391
Charge for the year 391
At 29 February 2024 782
Net book value
At 29 February 2024 393
At 28 February 2023 784
4 Debtors 2024 2023
£ £
Other debtors - 313
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 6,892 3,284
6 Going concern
The accounts have been prepared on a going concern basis. The Director has confirmed that he will continue to provide financial support to the company until such time as it's position improves.
7 Related party transactions
Included within other creditors is the amount of £6,892 owed to the Director. (2023: £3,284) This amount is updated, unsecured and repayable upon demand.
8 Controlling party
The controlling party is Mr S Byrne, as the Director and shareholder.
9 Other information
Rank With Text Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Box 110
275 Deangate
Manchester
M3 4EL
Rank With Text Ltd 13201862 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts July 2024 Simon Byrne No description of principal activity 13201862 2022-03-01 2023-02-28 13201862 core:WithinOneYear 2023-02-28 13201862 core:ShareCapital 2023-02-28 13201862 core:RetainedEarningsAccumulatedLosses 2023-02-28 13201862 2023-03-01 2024-02-29 13201862 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13201862 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13201862 bus:Director40 2023-03-01 2024-02-29 13201862 1 2023-03-01 2024-02-29 13201862 2 2023-03-01 2024-02-29 13201862 core:PlantMachinery 2023-03-01 2024-02-29 13201862 countries:England 2023-03-01 2024-02-29 13201862 bus:FRS102 2023-03-01 2024-02-29 13201862 bus:FilletedAccounts 2023-03-01 2024-02-29 13201862 2024-02-29 13201862 core:WithinOneYear 2024-02-29 13201862 core:ShareCapital 2024-02-29 13201862 core:RetainedEarningsAccumulatedLosses 2024-02-29 13201862 core:PlantMachinery 2024-02-29 13201862 2023-02-28 13201862 core:PlantMachinery 2023-02-28 iso4217:GBP xbrli:pure