3 3 Rebo Wall Limited 08763354 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the manufacture, distribution and licensing of rebound backboards/prefabricated walls and supply of educational content to grow sport, fitness activities and opportunities to help encourage a healthy lifestyle. Digita Accounts Production Advanced 6.30.9574.0 true true 08763354 2023-04-01 2024-03-31 08763354 2024-03-31 08763354 bus:OrdinaryShareClass1 2024-03-31 08763354 core:CurrentFinancialInstruments 2024-03-31 08763354 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08763354 core:Non-currentFinancialInstruments 2024-03-31 08763354 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08763354 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 08763354 core:OfficeEquipment 2024-03-31 08763354 bus:SmallEntities 2023-04-01 2024-03-31 08763354 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08763354 bus:FilletedAccounts 2023-04-01 2024-03-31 08763354 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08763354 bus:RegisteredOffice 2023-04-01 2024-03-31 08763354 bus:Director1 2023-04-01 2024-03-31 08763354 bus:Director2 2023-04-01 2024-03-31 08763354 bus:Director3 2023-04-01 2024-03-31 08763354 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08763354 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08763354 bus:Agent1 2023-04-01 2024-03-31 08763354 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 08763354 core:OfficeEquipment 2023-04-01 2024-03-31 08763354 countries:England 2023-04-01 2024-03-31 08763354 2023-03-31 08763354 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 08763354 core:OfficeEquipment 2023-03-31 08763354 2022-04-01 2023-03-31 08763354 2023-03-31 08763354 bus:OrdinaryShareClass1 2023-03-31 08763354 core:CurrentFinancialInstruments 2023-03-31 08763354 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08763354 core:Non-currentFinancialInstruments 2023-03-31 08763354 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08763354 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 08763354 core:OfficeEquipment 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08763354

Rebo Wall Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Rebo Wall Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Rebo Wall Limited

Company Information

Directors

A Hutchins

S Lock

M R Thornton

Registered office

Office 7
35-37 Ludgate Hill
London
EC4M 7JN

Accountants

Lucas Accountancy Limited
Chartered Accountants198 Woodstock Road
Yarnton
Kidlington
Oxfordshire
OX5 1PP

 

Rebo Wall Limited

(Registration number: 08763354)
Balance Sheet as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Intangible assets

4

3,512

5,995

Tangible assets

5

2,567

3,194

 

6,079

9,189

Current assets

 

Debtors

6

5,137

59,497

Cash at bank and in hand

 

1

19,360

 

5,138

78,857

Creditors: Amounts falling due within one year

7

(166,796)

(187,276)

Net current liabilities

 

(161,658)

(108,419)

Total assets less current liabilities

 

(155,579)

(99,230)

Creditors: Amounts falling due after more than one year

7

(113,069)

(124,520)

Net liabilities

 

(268,648)

(223,750)

Capital and reserves

 

Called up share capital

8

78,486

78,486

Share premium reserve

333,438

333,438

Retained earnings

(680,572)

(635,674)

Shareholders' deficit

 

(268,648)

(223,750)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Rebo Wall Limited

(Registration number: 08763354)
Balance Sheet as at 31 March 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................

A Hutchins
Director

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Office 7
35-37 Ludgate Hill
London
EC4M 7JN

These financial statements were authorised for issue by the Board on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents, trademarks and licences

10% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 April 2023

24,863

24,863

At 31 March 2024

24,863

24,863

Amortisation

At 1 April 2023

18,868

18,868

Amortisation charge

2,483

2,483

At 31 March 2024

21,351

21,351

Carrying amount

At 31 March 2024

3,512

3,512

At 31 March 2023

5,995

5,995

At present, the fair value of patents and trade marks is considered to be the cost value.

The aggregate amount of research and development expenditure recognised as an expense during the period is £7,204 (2023 - £4,070).
 

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

6,747

6,747

At 31 March 2024

6,747

6,747

Depreciation

At 1 April 2023

3,553

3,553

Charge for the year

627

627

At 31 March 2024

4,180

4,180

Carrying amount

At 31 March 2024

2,567

2,567

At 31 March 2023

3,194

3,194

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

59,497

Other debtors

5,137

-

 

5,137

59,497

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Loans and borrowings

9

12,012

3,021

Trade creditors

 

7,951

7,412

Taxation and social security

 

-

7,985

Accruals and deferred income

 

96,302

116,401

Other creditors

 

50,531

52,457

 

166,796

187,276

Creditors include bank loans and overdrafts of £12,012 (2023: £3,021). The bank overdraft is personally guaranteed by all directors up to the value of £10,000. The bank loan is guaranteed by the government.

 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Within current liabilities are interest free loans from shareholders totalling £45,831 (2023:£47,331). Despite these loans being repayable on demand, it is the lenders intention for the loans to remain outstanding for at least 2 years.

Accruals and deferred income includes £60,277 (2023: £87,576) relating to sales deferred to the following year to coincide with the future delivery date.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

113,069

124,520


Creditors due after more than one year include bank loans of £4,242 (2023: £7,231). The bank loan is guaranteed by the government.

Within creditors falling due after more than one year are loans from directors totalling £48,826 (2023: £57,289). The directors do not intend to withdraw these funds until the company has sufficient net assets.

There is also a loan outstanding of £60,000 (2023: £60,000). This is at an interest rate of 1% per month on the original balance. The loan is unsecured and the repayment terms are flexible. The interest is included in accruel £34,300 (2023: £27,100). For this reason the loan is not expected to be repaid within 1 year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £0.01 each

7,848,563

78,486

7,848,563

78,486

       
 

Rebo Wall Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,243

7,231

Other borrowings

108,826

117,289

113,069

124,520

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,008

3,021

Bank overdrafts

9,004

-

12,012

3,021

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are guarantees of £7,251 (2023 - £10,252). The bank loan is guaranteed by the government.

11

Prior Period Adjustment

It was discovered that £87,576 of sales in the year ended 31 March 2023 should have been deferred to the year ended 31 March 2024 as sales had been invoiced in advance of goods being produced and delivered.

A prior period adjustment has been made to show this income deferred from the year ended 31 March 2023 to 31 March 2024.