Registered number
08282176
Refurbishment Technology Limited
Filleted Accounts
31 July 2024
Refurbishment Technology Limited
Registered number: 08282176
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,260 21,745
Current assets
Debtors 4 135,556 298,986
Cash at bank and in hand 666,416 455,044
801,972 754,030
Creditors: amounts falling due within one year 5 (141,934) (269,960)
Net current assets 660,038 484,070
Total assets less current liabilities 676,298 505,815
Provisions for liabilities (4,000) (5,000)
Net assets 672,298 500,815
Capital and reserves
Called up share capital 100 100
Profit and loss account 672,198 500,715
Shareholder's funds 672,298 500,815
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P P Blaine
Director
Approved by the board on 24 January 2025
Refurbishment Technology Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings 15% straight line
Computers 33% straight line
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 15% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 4,931 4,530 22,833 32,294
At 31 July 2024 4,931 4,530 22,833 32,294
Depreciation
At 1 August 2023 2,961 1,880 5,708 10,549
Charge for the year 740 465 4,280 5,485
At 31 July 2024 3,701 2,345 9,988 16,034
Net book value
At 31 July 2024 1,230 2,185 12,845 16,260
At 31 July 2023 1,970 2,650 17,125 21,745
4 Debtors 2024 2023
£ £
Trade debtors 128,956 298,986
Other debtors 6,600 -
135,556 298,986
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 147 9,748
Other taxes and social security costs 139,038 255,084
Other creditors 2,749 5,128
141,934 269,960
6 Other information
Refurbishment Technology Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Aldridge Road
Streetly
Sutton Coldfield
B74 3TU
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