REGISTERED NUMBER: |
REVITAL HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
REGISTERED NUMBER: |
REVITAL HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
REVITAL HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor, One Hobbs House, |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
STATEMENT OF FINANCIAL POSITION |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium | 10 |
Retained earnings | 10 | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Revital Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Revital Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The company is reliant upon the results of its wholly owned subsidiary Revital Limited. The directors of the subsidiary have continued to take action to manage the business risk by: |
- | Continuously developing and improving the structure of e-commerce sales; & |
- | Significantly improving the distribution and administrative processes, resulting in a reduction in payroll costs and staff numbers. |
Accordingly, they have a reasonable expectation that the subsidiary company, and in turn, the company has sufficient resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements. |
The subsidiary returned a net profit of £36,737 for the year ended 30 April 2024 and, as of that date, the net subsidiary's assets amounted to £60,708. The subsidiary's Financial Statements have been prepared on a going concern basis, as the directors have: |
- | Prepared cash flow forecasts confirming that the subsidiary's liquidity will be maintained to meet its day-to-day commitments for a period of at least 24 months from the year end date. |
- | The subsidiary is constantly reviewing and managing its cash flow, having taken positive steps to ensure that major costs were curtailed as in the previous years. |
- | Increased presence in e-commerce, without necessarily increasing costs associated to this additional channel of revenue. |
- | Continuously managed a negotiated credit terms with suppliers. |
- | Further reduced central administrative costs by significant use of technology. |
In addition to the improvements to cash flow management and savings achieved as highlighted above, strategically, the directors have: |
- | Successfully increased the revenue stream from the monthly e-commerce subscription service. This has resulted in a regular income stream from repeat customers increasing significantly in comparison to the previous years. |
- | Increased the product range available through the Amazon store and at the same time launched online sales through additional marketplace channels. |
- | Continued to research and source additional products available in the UK, further overcoming supply chain issues by sourcing of products predominantly from the UK only as in the previous years. |
- | Significantly extended the range of own branded goods, having carried out research and commenced the manufacturing process of own branded goods in previous years. |
As a result of the actions listed above, the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these Financial Statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
AMORTISATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 391,798 | 97,676 |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 1,125,000 | 1,125,000 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary Shares | £1 | 151,626 | 151,626 |
A Ordinary | £1 | 56,467 | 56,467 |
B Ordinary | £1 | 1,696 | 1,696 |
C Ordinary | £1 | 1,050 | 1,050 |
210,839 | 210,839 |
All share classes have different rights on income and capital distributions. Additionally, holders of B Ordinary Shares are not entitled to receive notice of and attend any general meeting of the Company and shall not be entitled to vote on any written resolution of the company. |
10. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
At 1 May 2023 | ( |
) | 533,392 |
Deficit for the year | ( |
) | ( |
) |
At 30 April 2024 | ( |
) | 400,288 |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
REVITAL HOLDINGS LIMITED (REGISTERED NUMBER: 10806942) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling parties are R S Vora and Mrs N Vora by virtue of shareholdings. |