REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
RECREATIVE SOLUTIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
RECREATIVE SOLUTIONS LIMITED |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
BALANCE SHEET |
30 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
BALANCE SHEET - continued |
30 NOVEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
1. | Statutory information |
Recreative Solutions Limited is a |
Registered number: |
Registered office: |
2. | Accounting policies |
Basis of preparing the financial statements |
In light of the cessation of trading on 30 November 2023, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements for the period ended 30 November 2023. The director has determined that the going concern basis is no longer appropriate, and the financial statements for the period ended 30 November 2023 have been prepared on a break-up basis. |
Fixed assets have been reclassified to current assets and the expected useful lives of purchased plant and machinery have been reviewed so as to ensure that they reflect recoverable amounts on the grounds that the company is no longer trading and these assets are available for sale in their current condition. Current assets have also been stated at recoverable amounts. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in a separate non-distributable reserve. Deferred taxation is provided for at the rate expected to apply when the property is sold. |
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. |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
2. | Accounting policies - continued |
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. |
Financial instruments |
Financial instruments are classified and accounted for according to the substance of the contractual agreement as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | Employees and directors |
The average number of employees during the year was NIL (2022 - NIL). |
4. | Property, plant and equipment |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
Cost |
At 1 December 2022 |
and 30 November 2023 |
Depreciation |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
Additional depreciation of £377 has been recognised as a result of the change in accounting estimate relating to the useful life of the assets and their residual values. This is a result of the cessation of trade on 30 November 2023. |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 December 2022 |
Additions |
Disposals | ( |
) |
At 30 November 2023 |
Net book value |
At 30 November 2023 |
At 30 November 2022 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans |
9. | Secured debts |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Bank loans of £nil (2022: £152,218) have been secured by a charge over certain investment properties held by the company dated 20 April 2006. The carrying value of these investment properties is £nil (2022: £175,000). |
RECREATIVE SOLUTIONS LIMITED (REGISTERED NUMBER: 04896449) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
10. | Directors' advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest was charged on the above loan at the official rate set by HM Revenue & Customs. |