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REGISTERED NUMBER: 02760880 (England and Wales)







Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Readability Limited

Readability Limited (Registered number: 02760880)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Readability Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr C J Edney
Mrs H Edney
Ms P Griffin
Mr S Edney





SECRETARY: Mrs H Edney





REGISTERED OFFICE: 47 Upper King Street
Royston
Hertfordshire
SG8 9AZ





REGISTERED NUMBER: 02760880 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Readability Limited (Registered number: 02760880)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,788 59,530

CURRENT ASSETS
Stocks 5 59,312 16,870
Debtors 6 570,112 716,472
Cash at bank and in hand 1,030,257 571,814
1,659,681 1,305,156
CREDITORS
Amounts falling due within one year 7 817,480 532,340
NET CURRENT ASSETS 842,201 772,816
TOTAL ASSETS LESS CURRENT
LIABILITIES

889,989

832,346

CAPITAL AND RESERVES
Called up share capital 8 2,866 2,866
Capital redemption reserve 9 7,136 7,136
Retained earnings 9 879,987 822,344
SHAREHOLDERS' FUNDS 889,989 832,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Readability Limited (Registered number: 02760880)

Balance Sheet - continued
30 April 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 Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr C J Edney - Director


Readability Limited (Registered number: 02760880)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Readability Limited 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.

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Readability Limited (Registered number: 02760880)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 20,693 7,526 98,100 13,764 140,083
Additions - - 31,485 - 31,485
At 30 April 2024 20,693 7,526 129,585 13,764 171,568
DEPRECIATION
At 1 May 2023 20,693 7,062 39,034 13,764 80,553
Charge for year - 464 42,763 - 43,227
At 30 April 2024 20,693 7,526 81,797 13,764 123,780
NET BOOK VALUE
At 30 April 2024 - - 47,788 - 47,788
At 30 April 2023 - 464 59,066 - 59,530

5. STOCKS
30.4.24 30.4.23
£    £   
Stocks 59,312 16,870

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 366,620 512,481
Other debtors 203,492 203,991
570,112 716,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 567,301 401,971
Taxation and social security 157,864 107,746
Other creditors 92,315 22,623
817,480 532,340

Readability Limited (Registered number: 02760880)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
2,864 Ordinary shares £1 2,864 2,864
2 Ordinary 'A' shares £1 2 2
2,866 2,866

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 May 2023 822,344 7,136 829,480
Profit for the year 307,643 307,643
Dividends (250,000 ) (250,000 )
At 30 April 2024 879,987 7,136 887,123

10. RELATED PARTY DISCLOSURES

WFBH Ltd
A company owned by Mr & Mrs Edney.

Within other debtors is an amount loaned to WBFH Ltd of £180,000 (2023:£180,000) and this amount was outstanding at the year end. This amount is repayable on demand. The company will charge no interest on this loan and therefore no provision for interest has been made in these accounts.

11. ULTIMATE CONTROLLING PARTY

During the year the company was under the control of Mr and Mrs Edney by virtue of their shareholdings.