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Registration number: 03267977

Railview Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Railview Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 8

 

Railview Limited

Company Information

Director

Ms S.E. Evans

Company secretary

Ms S.E. Evans

Registered office

Barrow Hill Roundhouse Railway Centre
Campbell Drive
Chesterfield
Chesterfield
Derbyshire
S43 2PR

Bankers

National Westminster Bank plc
Morpeth
4 Bridge Street
Morpeth
Northumberland
NE61 1NG

 

Railview Limited

(Registration number: 03267977)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,706

49,977

Current assets

 

Debtors

5

3,028

5,102

Cash at bank and in hand

 

5,493

2,907

 

8,521

8,009

Creditors: Amounts falling due within one year

6

(189)

(891)

Net current assets

 

8,332

7,118

Total assets less current liabilities

 

12,038

57,095

Creditors: Amounts falling due after more than one year

6

-

(43,858)

Net assets

 

12,038

13,237

Capital and reserves

 

Called up share capital

100

100

Retained earnings

11,938

13,137

Shareholders' funds

 

12,038

13,237

For the financial year ending 31 October 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................
Ms S.E. Evans
Company secretary and director

 

Railview Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

100

61,125

61,225

Loss for the year

-

(47,988)

(47,988)

At 31 October 2023

100

13,137

13,237

Share capital
£

Retained earnings
£

Total
£

At 1 November 2023

100

13,137

13,237

Profit for the year

-

46,658

46,658

Dividends

-

(47,857)

(47,857)

At 31 October 2024

100

11,938

12,038

 

Railview Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Barrow Hill Roundhouse Railway Centre
Campbell Drive
Chesterfield
Chesterfield
Derbyshire
S43 2PR

These financial statements were authorised for issue by the director on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The company meets its day to day working capital requirements through cash generated from operations and shareholder borrowings.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing these financial statements. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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.

 

Railview Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

Government grants

Government grants relating to the costs incurred by the company are recognised in the income statement over the period necessary to match them with costs that they are intended to compensate. Government grants are presented separately and disclosed in Other operating income in the income statement.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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

Fixture and fittings

- 20% reducing balance

Plant and machinery

- 15% reducing balance

Motor vehicles

- 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

 

Railview Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

2

Accounting policies (continued)

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 1).

 

Railview Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

17,212

89,200

23,792

130,204

Disposals

(17,212)

(89,200)

-

(106,412)

At 31 October 2024

-

-

23,792

23,792

Depreciation

At 1 November 2023

16,501

44,876

18,850

80,227

Charge for the year

142

2,009

1,236

3,387

Eliminated on disposal

(16,643)

(46,885)

-

(63,528)

At 31 October 2024

-

-

20,086

20,086

Carrying amount

At 31 October 2024

-

-

3,706

3,706

At 31 October 2023

711

44,324

4,942

49,977

5

Debtors

Current

2024
£

2023
£

Trade debtors

-

708

Other debtors

3,028

4,394

 

3,028

5,102

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

189

891

 

Railview Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 October 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Deferred income

-

43,858