Registered number
12932727
ReKreate Ltd
Unaudited Filleted Accounts
31 December 2023
ReKreate Ltd
Registered number: 12932727
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,568 667
Tangible assets 4 3,463 3,802
5,031 4,469
Current assets
Debtors 5 77,005 11,187
Cash at bank and in hand 7,649 65
84,654 11,252
Creditors: amounts falling due within one year 6 (29,031) (14,306)
Net current assets/(liabilities) 55,623 (3,054)
Net assets 60,654 1,415
Capital and reserves
Called up share capital 1,364 1,000
Share premium 155,270 -
Profit and loss account (95,980) 415
Shareholders' funds 60,654 1,415
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 members have 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.
Mr Kristoffer Du Bose
Director
Approved by the board on 10 February 2025
ReKreate Ltd
Notes to the Accounts
for the year ended 31 December 2023
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 (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the financial currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Computer Equipment 20% Straight Line
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Cost
At 1 January 2023 1,259
Additions 1,441
At 31 December 2023 2,700
Amortisation
At 1 January 2023 592
Provided during the year 540
At 31 December 2023 1,132
Net book value
At 31 December 2023 1,568
At 31 December 2022 667
4 Tangible fixed assets
Computer Equipment
£
Cost
At 1 January 2023 4,844
Additions 788
At 31 December 2023 5,632
Depreciation
At 1 January 2023 1,042
Charge for the year 1,127
At 31 December 2023 2,169
Net book value
At 31 December 2023 3,463
At 31 December 2022 3,802
5 Debtors 2023 2022
£ £
Trade debtors 1,500 -
Other debtors 75,505 11,187
77,005 11,187
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 16
Trade creditors 294 9,434
Taxation and social security costs 11,245 4,004
Other creditors 17,492 852
29,031 14,306
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 1,875 13,152
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest charged at HMRC's official rate, repayable on demand (488) (58,298) 6,960 (51,826)
(488) (58,298) 6,960 (51,826)
9 Going concern
The director has given assurances that they will continue to support the company. Therefore the accounts have been prepared on a going concern basis.
10 Other information
ReKreate Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Providence Court
Pynes Hill
Exeter
Devon
EX2 5JL
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