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REGISTERED NUMBER: 01457892 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

REVEGATE LIMITED

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REVEGATE LIMITED

COMPANY INFORMATION
for the Year Ended 30th April 2024







DIRECTORS: T M Krell
I C Krell
E G Krell





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 01457892 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

BALANCE SHEET
30th April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 36,300 33,507
Investments 5 302 302
Investment property 6 4,155,000 4,155,000
4,191,602 4,188,809

CURRENT ASSETS
Debtors 7 3,993,218 3,602,881
Cash at bank 164,596 626,412
4,157,814 4,229,293
CREDITORS
Amounts falling due within one year 8 (3,268,938 ) (2,379,704 )
NET CURRENT ASSETS 888,876 1,849,589
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,080,478

6,038,398

CREDITORS
Amounts falling due after more than one
year

9

-

(888,709

)

PROVISIONS FOR LIABILITIES (673,303 ) (672,094 )
NET ASSETS 4,407,175 4,477,595

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 4,406,975 4,477,395
SHAREHOLDERS' FUNDS 4,407,175 4,477,595

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

BALANCE SHEET - continued
30th April 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st January 2025 and were signed on its behalf by:





E G Krell - Director


REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th April 2024


1. STATUTORY INFORMATION

Revegate Limited is a private company, limited by shares, registered in England and Wales, registration number 01457892. The address of the registered office is 100 Barbirolli Square, M2 3BD. The address of the principal place of business is Palatine Court, 84 Palatine Road, Manchester, M20 3JW.

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.

Related party exemption
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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies above, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is presented net of value-added-tax, rebates and discounts.

Rental income from operating leases (net of any incentives given to the lessee), is recognised on a straight line basis over the term of the lease.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings-15% on reducing balance
Computer Equipment-15% on reducing balance
Motor Vehicle-25% on reducing balance

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an 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 the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measure at cost, including transaction costs. Investment properties are then revalued at fair value at each balance sheet date.

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st May 2023 149,847 31,592 920 182,359
Additions 11,680 - - 11,680
At 30th April 2024 161,527 31,592 920 194,039
DEPRECIATION
At 1st May 2023 145,338 3,291 223 148,852
Charge for year 1,708 7,075 104 8,887
At 30th April 2024 147,046 10,366 327 157,739
NET BOOK VALUE
At 30th April 2024 14,481 21,226 593 36,300
At 30th April 2023 4,509 28,301 697 33,507

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1st May 2023
and 30th April 2024 302
NET BOOK VALUE
At 30th April 2024 302
At 30th April 2023 302

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 4,155,000
NET BOOK VALUE
At 30th April 2024 4,155,000
At 30th April 2023 4,155,000

The directors believe the valuation of the investment property at 30 April 2024 to be that of fair value.

REVEGATE LIMITED (REGISTERED NUMBER: 01457892)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th April 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,581 -
Amounts owed by group undertakings 2,792,190 2,419,778
Amounts owed by participating interests 293,000 293,000
Other debtors 891,447 890,103
3,993,218 3,602,881

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 75,697
Trade creditors 12,550 12,429
Amounts owed to group undertakings 1,838,012 1,360,250
Amounts owed to participating interests 949,994 416,295
Taxation and social security 18,124 25,392
Other creditors 450,258 489,641
3,268,938 2,379,704

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 888,709

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 964,406

The bank loans are secured by fixed and floating charges over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1.00 200 200