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Registered number: 10539269










REVIUM CORPORATE SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
REVIUM CORPORATE SERVICES LIMITED
REGISTERED NUMBER: 10539269

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
6,159
8,660

  
6,159
8,660

Current assets
  

Debtors: amounts falling due within one year
 6 
32,066
87,756

  
32,066
87,756

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(215,034)
(195,270)

Net current liabilities
  
 
 
(182,968)
 
 
(107,514)

Total assets less current liabilities
  
(176,809)
(98,854)

  

Net liabilities
  
(176,809)
(98,854)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(176,909)
(98,954)

  
(176,809)
(98,854)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
REVIUM CORPORATE SERVICES LIMITED
REGISTERED NUMBER: 10539269

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
W J Richmond
Director

Date: 27 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Revium Corporate Services Limited is private company limited by shares and incorporated in England and Wales. Its registered office is 8th Floor South, Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

Having previously provided a central service function for other group and related companies, the company is now being used to provide external services on a small scale. Until such time that the company is profitable and cash generative, the shareholder has confirmed that he will provide any financial support as may be necessary to enable the company to trade as a going concern. Accordingly, the financial statements are prepared on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Page 3

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Development expenditure
-
20%
Straight line method

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
Straight line method
Fixtures and fittings
-
15%
Straight line method
Computer equipment
-
33%
Reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investment in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2021 - 4).

Page 5

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Intangible assets




Development expenditure

£



Cost


At 1 January 2022
88,568



At 31 December 2022

88,568



Amortisation


At 1 January 2022
79,908


Charge for the year
2,501



At 31 December 2022

82,409



Net book value



At 31 December 2022
6,159



At 31 December 2021
8,660





Page 6

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
796
1,880
2,676



At 31 December 2022

796
1,880
2,676



Depreciation


At 1 January 2022
796
1,880
2,676



At 31 December 2022

796
1,880
2,676



Net book value



At 31 December 2022
-
-
-



At 31 December 2021
-
-
-




6.


Debtors

2022
2021
£
£


Trade debtors
8,760
1,920

Amounts owed by related undertakings
20,000
70,000

Other debtors
3,306
15,836

32,066
87,756


Page 7

 
REVIUM CORPORATE SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
2,019
5

Trade creditors
9,492
7,464

Amounts owed to group undertakings
115,626
115,626

Other taxation and social security
15,611
2,049

Other creditors
72,286
70,126

215,034
195,270



8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

Included within other creditors (note 7) is a loan balance of £69,900 (2021: £69,900) due to the director.   
Amounts due to and from group and other related companies (companies under common control) are shown in notes 6 and 7.


10.


Controlling party

The Company's immediate parent undertaking is RMG Group Holdings Limited, a Company incorporated in England and Wales. The ultimate controlling party of the Company is W J Richmond by virtue of his shareholding in the parent Company, RMG Group Holdings Limited.  

Page 8