And Rising Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 07067756 (England and Wales)
And Rising Limited
Company Information
Directors
J Trimble
R Ward
Company number
07067756
Registered office
Unit A
9 Long Street
London
United Kingdom
E2 8GS
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
And Rising Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
And Rising Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,024
676
Current assets
Debtors
4
677,745
492,411
Cash at bank and in hand
262,422
960,457
940,167
1,452,868
Creditors: amounts falling due within one year
5
(735,786)
(1,062,962)
Net current assets
204,381
389,906
Total assets less current liabilities
209,405
390,582
Creditors: amounts falling due after more than one year
6
(33,077)
(33,667)
Net assets
176,328
356,915
Capital and reserves
Called up share capital
7
9,785
9,785
Share premium account
415,016
415,016
Capital redemption reserve
1,625
1,625
Own shares
(112,401)
(112,401)
Profit and loss reserves
(137,697)
42,890
Total equity
176,328
356,915

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

And Rising Limited
Balance Sheet (Continued)
As at 31 December 2023
Page 2
The financial statements were approved by the board of directors and authorised for issue on 6 January 2025 and are signed on its behalf by:
J Trimble
Director
Company Registration No. 07067756
And Rising Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 3
1
Accounting policies
Company information

And Rising Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A, 9 Long Street, London, United Kingdom, E2 8GS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts. true

1.3
Turnover

Retainer income is recognised evenly over the contract period as services are performed and contract obligations are met.

 

Project management fees are recognised either (i) over the agreed contractual period or (ii) where there is a specific piece of work, when that work is signed off by the client.

 

Production revenue is recognised when the service is performed, in accordance with the terms of the contractual arrangement.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
33.3% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

And Rising Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

And Rising Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 5
1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
3
Tangible fixed assets
Fixtures, fittings and equipment
£
Cost
At 1 January 2023
46,639
Additions
5,864
Disposals
(24,791)
At 31 December 2023
27,712
Depreciation and impairment
At 1 January 2023
45,963
Depreciation charged in the year
1,516
Eliminated in respect of disposals
(24,791)
At 31 December 2023
22,688
Carrying amount
At 31 December 2023
5,024
At 31 December 2022
676
And Rising Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
294,022
233,631
Corporation tax recoverable
26,037
-
0
Other debtors
357,686
258,780
677,745
492,411
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,632
9,584
Trade creditors
75,082
68,492
Corporation tax
-
0
76,460
Other taxation and social security
21,012
70,488
Other creditors
19,248
9,978
Accruals and deferred income
614,812
827,960
735,786
1,062,962
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
33,077
33,667
7
Called up share capital
2023
2022
£
£
Allotted, called up and fully paid
8,410 Ordinary A Shares of £1 each
8,410
8,410
1,375 Ordinary B Shares of £1 each
1,375
1,375
9,785
9,785

The Ordinary B Shares have no voting or dividend rights but carry the same value on exit.

 

8
Related party transactions
And Rising Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
8
Related party transactions
(Continued)
Page 7

During the prior year the company provided a loan to a related party by common directors, And Rising Ventures LLP. This has an interest rate of 2% per annum over a 10 year period. The balance outstanding at year end was £170,560 (2022: £167,280) which includes of interest charged of £3,280 (2022: £3,280).

 

 

9
Control

The company is controlled by the shareholders as a body. No individual has control.

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