Retreading Business Limited 03548928 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Publishing Of Business Journals Digita Accounts Production Advanced 6.30.9574.0 true 03548928 2023-08-01 2024-07-31 03548928 2024-07-31 03548928 core:CurrentFinancialInstruments 2024-07-31 03548928 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03548928 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 03548928 core:OtherResidualIntangibleAssets 2024-07-31 03548928 core:FurnitureFittingsToolsEquipment 2024-07-31 03548928 bus:SmallEntities 2023-08-01 2024-07-31 03548928 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03548928 bus:FullAccounts 2023-08-01 2024-07-31 03548928 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03548928 bus:RegisteredOffice 2023-08-01 2024-07-31 03548928 bus:Director2 2023-08-01 2024-07-31 03548928 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03548928 core:IntangibleAssetsOtherThanGoodwill 2023-08-01 2024-07-31 03548928 core:OtherResidualIntangibleAssets 2023-08-01 2024-07-31 03548928 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 03548928 core:OfficeEquipment 2023-08-01 2024-07-31 03548928 core:OtherRelatedParties 2023-08-01 2024-07-31 03548928 countries:EnglandWales 2023-08-01 2024-07-31 03548928 2023-07-31 03548928 core:OtherResidualIntangibleAssets 2023-07-31 03548928 core:FurnitureFittingsToolsEquipment 2023-07-31 03548928 2022-08-01 2023-07-31 03548928 2023-07-31 03548928 core:CurrentFinancialInstruments 2023-07-31 03548928 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03548928 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 03548928 core:OtherResidualIntangibleAssets 2023-07-31 03548928 core:FurnitureFittingsToolsEquipment 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 03548928

Retreading Business Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Retreading Business Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Retreading Business Limited

(Registration number: 03548928)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

16,970

10,300

Tangible assets

5

1,268

1,496

 

18,238

11,796

Current assets

 

Debtors

6

27,536

26,671

Cash at bank and in hand

 

23,792

30,626

 

51,328

57,297

Creditors: Amounts falling due within one year

7

(57,800)

(58,282)

Net current liabilities

 

(6,472)

(985)

Total assets less current liabilities

 

11,766

10,811

Creditors: Amounts falling due after more than one year

7

(4,583)

(9,583)

Provisions for liabilities

(241)

(284)

Net assets

 

6,942

944

Capital and reserves

 

Called up share capital

20

20

Retained earnings

6,922

924

Shareholders' funds

 

6,942

944

 

Retreading Business Limited

(Registration number: 03548928)
Balance Sheet as at 31 July 2024

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

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account or Director report.

Approved and authorised by the director on 17 March 2025
 

.........................................
Mr D Wilson
Director

 

Retreading Business Limited

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

1

General information

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

The address of its registered office is:
15 Blackthorn Close
Wistaston
Crewe
Cheshire
CW2 6PQ

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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.

 

Retreading Business Limited

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

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

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

Fixtures, fittings and equipment

33.3% Straight Line

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

Website

20% straight line

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 0).

 

Retreading Business Limited

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

4

Intangible assets

Website
 £

Total
£

Cost or valuation

At 1 August 2023

21,543

21,543

Additions acquired separately

13,325

13,325

At 31 July 2024

34,868

34,868

Amortisation

At 1 August 2023

11,243

11,243

Amortisation charge

6,655

6,655

At 31 July 2024

17,898

17,898

Carrying amount

At 31 July 2024

16,970

16,970

At 31 July 2023

10,300

10,300

 

Retreading Business Limited

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

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

1,923

1,923

Additions

1,496

1,496

Disposals

(1,923)

(1,923)

At 31 July 2024

1,496

1,496

Depreciation

At 1 August 2023

427

427

Charge for the year

228

228

Eliminated on disposal

(427)

(427)

At 31 July 2024

228

228

Carrying amount

At 31 July 2024

1,268

1,268

At 31 July 2023

1,496

1,496

6

Debtors

Current

2024
£

2023
£

Trade debtors

26,021

19,507

Prepayments

307

275

Other debtors

1,208

6,889

 

27,536

26,671

 

Retreading Business Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Bank loan

5,000

5,000

Trade creditors

29,341

7,523

Other creditors

23,459

45,759

57,800

58,282

Due after one year

Bank loan

4,583

9,583

8

Related party transactions

Summary of transactions with other related parties

During the year a net amount owed by the company to related party Valebridge Publications Limited of £6,492 was written off. Valebridge Publications Limited is related to the the company as the directors are also directors of Valebridge Publications Limited.

This amount has been included in bad debts.