IRIS Accounts Production v24.1.0.578 09987715 director 1.3.23 29.2.24 29.2.24 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099877152023-02-28099877152024-02-29099877152023-03-012024-02-29099877152022-02-28099877152022-03-012023-02-28099877152023-02-2809987715ns15:EnglandWales2023-03-012024-02-2909987715ns14:PoundSterling2023-03-012024-02-2909987715ns10:Director12023-03-012024-02-2909987715ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909987715ns10:SmallEntities2023-03-012024-02-2909987715ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909987715ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909987715ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909987715ns10:FullAccounts2023-03-012024-02-290998771512023-03-012024-02-2909987715ns10:OrdinaryShareClass12023-03-012024-02-2909987715ns10:OrdinaryShareClass22023-03-012024-02-2909987715ns10:RegisteredOffice2023-03-012024-02-2909987715ns5:CurrentFinancialInstruments2024-02-2909987715ns5:CurrentFinancialInstruments2023-02-2809987715ns5:ShareCapital2024-02-2909987715ns5:ShareCapital2023-02-2809987715ns5:RetainedEarningsAccumulatedLosses2024-02-2909987715ns5:RetainedEarningsAccumulatedLosses2023-02-2809987715ns5:NetGoodwill2023-03-012024-02-2909987715ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2909987715ns5:FurnitureFittings2023-03-012024-02-2909987715ns5:ComputerEquipment2023-03-012024-02-2909987715ns5:NetGoodwill2023-02-2809987715ns5:NetGoodwill2024-02-2909987715ns5:NetGoodwill2023-02-2809987715ns5:FurnitureFittings2023-02-2809987715ns5:ComputerEquipment2023-02-2809987715ns5:FurnitureFittings2024-02-2909987715ns5:ComputerEquipment2024-02-2909987715ns5:FurnitureFittings2023-02-2809987715ns5:ComputerEquipment2023-02-2809987715ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-02-2909987715ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-02-2809987715ns5:DeferredTaxation2023-02-2809987715ns5:DeferredTaxation2024-02-2909987715ns10:OrdinaryShareClass12024-02-2909987715ns10:OrdinaryShareClass22024-02-2909987715ns5:RetainedEarningsAccumulatedLosses2023-02-2809987715ns5:RetainedEarningsAccumulatedLosses2023-03-012024-02-29
REGISTERED NUMBER: 09987715 (England and Wales)










Unaudited Financial Statements for the Year Ended 29 February 2024

for

Ritual Network Ltd

Ritual Network Ltd (Registered number: 09987715)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ritual Network Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: L Bell





REGISTERED OFFICE: 12 Chancery Lane
Crowle
Scunthorpe
North Lincolnshire
DN17 4HN





REGISTERED NUMBER: 09987715 (England and Wales)





ACCOUNTANTS: Parkins Accountants Ltd
T/A, Parkins, Chartered Accountants
Moor Park House
Bawtry Rd
Wickersley
Rotherham
South Yorkshire
S66 2BL

Ritual Network Ltd (Registered number: 09987715)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,200 3,300
Tangible assets 5 611 860
2,811 4,160

CURRENT ASSETS
Debtors 6 471,064 524,622
Cash at bank 742,044 687,898
1,213,108 1,212,520
CREDITORS
Amounts falling due within one year 7 525,576 535,901
NET CURRENT ASSETS 687,532 676,619
TOTAL ASSETS LESS CURRENT
LIABILITIES

690,343

680,779

PROVISIONS FOR LIABILITIES 8 116 163
NET ASSETS 690,227 680,616

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 690,127 680,516
SHAREHOLDERS' FUNDS 690,227 680,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ritual Network Ltd (Registered number: 09987715)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2024 and were signed by:





L Bell - Director


Ritual Network Ltd (Registered number: 09987715)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ritual Network Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Ritual Network Ltd (Registered number: 09987715)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 11,000
AMORTISATION
At 1 March 2023 7,700
Amortisation for year 1,100
At 29 February 2024 8,800
NET BOOK VALUE
At 29 February 2024 2,200
At 28 February 2023 3,300

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 528 2,523 3,051
DEPRECIATION
At 1 March 2023 311 1,880 2,191
Charge for year 37 212 249
At 29 February 2024 348 2,092 2,440
NET BOOK VALUE
At 29 February 2024 180 431 611
At 28 February 2023 217 643 860

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 439,106 469,221
VAT 31,958 55,401
471,064 524,622

Ritual Network Ltd (Registered number: 09987715)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 418,436 439,862
Tax 42,463 31,849
Social security and other taxes 9 9
Other creditors 142 142
Directors' current accounts 61,826 61,339
Accrued expenses 2,700 2,700
525,576 535,901

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 116 163

Deferred
tax
£   
Balance at 1 March 2023 163
Movement in year (47 )
Balance at 29 February 2024 116

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
85 Ordinary A £1 85 85
25 Ordinary B 1 15 15
100 100

10. RESERVES
Retained
earnings
£   

At 1 March 2023 680,516
Profit for the year 129,611
Dividends (120,000 )
At 29 February 2024 690,127