RAISE IT UP LIMITED

Company Registration Number:
12625084 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

RAISE IT UP LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

RAISE IT UP LIMITED

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Called up share capital not paid: 92 92
Fixed assets
Intangible assets: 3 254,010 831,466
Tangible assets: 4 19,373 28,423
Total fixed assets: 273,383 859,889
Current assets
Debtors:   13,511 15,552
Cash at bank and in hand: 277 3,307
Total current assets: 13,788 18,859
Creditors: amounts falling due within one year:   (567,818) (579,843)
Net current assets (liabilities): (554,030) (560,984)
Total assets less current liabilities: (280,555) 298,997
Total net assets (liabilities): (280,555) 298,997
Capital and reserves
Called up share capital: 6,343 6,343
Share premium account: 900,217 900,217
Profit and loss account: (1,187,115) (607,563)
Shareholders funds: (280,555) 298,997

The notes form part of these financial statements

RAISE IT UP LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 24 February 2025
and signed on behalf of the board by:

Name: James Ashton
Status: Director

The notes form part of these financial statements

RAISE IT UP LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases: Computer equipment 25% Straight line method Motor vehicles 20% Straight line method

Intangible fixed assets and amortisation policy

App development costs and trademarks are capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Where it is believed that costs incurred on app development meets this criteria such expenditure is amortised over a period of five years, from the point that the app is ready for use. Website costs are capitalised to the extent that the technical and financial feasibility can be demonstrated. At the period end, the website is still under development and so, has not been amortised during the year. The costs of acquiring trademarks are capitalised in the balance sheet as intangible fixed assets. Trademarks are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their useful economic lives. A maximum estimated useful economic of 10 years has been used as a basis of amortisation of trademarks where the legal life is in excess of 10 years.

RAISE IT UP LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 1 3

RAISE IT UP LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Intangible Assets

Total
Cost £
At 01 June 2023 833,645
Revaluations (576,768)
At 31 May 2024 256,877
Amortisation
At 01 June 2023 2,179
Charge for year 688
At 31 May 2024 2,867
Net book value
At 31 May 2024 254,010
At 31 May 2023 831,466

RAISE IT UP LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Tangible Assets

Total
Cost £
At 01 June 2023 43,201
At 31 May 2024 43,201
Depreciation
At 01 June 2023 14,778
Charge for year 9,050
At 31 May 2024 23,828
Net book value
At 31 May 2024 19,373
At 31 May 2023 28,423