Registered number
10048561
Rare By Oulton Limited
Unaudited Filleted Accounts
31 March 2024
Rare By Oulton Limited
Registered number: 10048561
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Stocks 243,108 243,108
Debtors 5 9,575 11,644
Cash at bank and in hand - 263
252,683 255,015
Creditors: amounts falling due within one year 6 (548,538) (539,675)
Net current liabilities (295,855) (284,660)
Net liabilities (295,855) (284,660)
Capital and reserves
Called up share capital 100 100
Profit and loss account (295,955) (284,760)
Shareholders' funds (295,855) (284,660)
The directors are 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 directors acknowledge their 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.
Oscar Oulton
Director
Approved by the board on 25 March 2025
Rare By Oulton Limited
Notes to the Accounts
for the year ended 31 March 2024
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).
2 Going Concern
The accounts show net liabilities. The director still considers it appropriate that the financial statements are prepared on a going concern basis as the director will continue to support the business financially.
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 4,183
At 31 March 2024 4,183
Depreciation
At 1 April 2023 4,183
At 31 March 2024 4,183
Net book value
At 31 March 2024 -
5 Debtors 2024 2023
£ £
Trade debtors - 10,906
VAT debtor 5,792 -
Other debtors 3,783 738
9,575 11,644
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,491 134
Taxation and social security costs - 554
Amounts due to connected company 419,103 414,233
Other creditors 125,944 124,754
548,538 539,675
7 Directors Transactions
During the year, company director Oscar Oulton,used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Oscar Oulton as director as at 31st March 2024 of £57,768.51 (2023: £55,777.50).

During the year, prior director Oliver Oulton used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owing back to Oliver Oulton as at 31st March 2024 of £66,850.87 (2023: £66,850.87).
The amounts are repayable on demand and do not carry interest.
8 Related party transactions
Included in Creditors is an amount owed by Rare By Oulton to Tallulah Investments which is owned by the Oulton siblings they are not currently seeking immediate repayment of the balance due
9 Controlling party
Mr Oscar Oulton the sole director of the company and holds 50% of the share capital of the company. He is therefore company's ultimate controlling party.
10 Other information
Rare By Oulton Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bluebird
350 King's Road
Chelsea
London
SW3 5UU
Rare By Oulton Limited 10048561 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Oscar Oulton No description of principal activity 10048561 2022-04-01 2023-03-31 10048561 core:WithinOneYear 2023-03-31 10048561 core:ShareCapital 2023-03-31 10048561 core:RetainedEarningsAccumulatedLosses 2023-03-31 10048561 2023-04-01 2024-03-31 10048561 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10048561 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10048561 bus:Director40 2023-04-01 2024-03-31 10048561 1 2023-04-01 2024-03-31 10048561 2 2023-04-01 2024-03-31 10048561 countries:England 2023-04-01 2024-03-31 10048561 bus:FRS102 2023-04-01 2024-03-31 10048561 bus:FilletedAccounts 2023-04-01 2024-03-31 10048561 2024-03-31 10048561 core:WithinOneYear 2024-03-31 10048561 core:ShareCapital 2024-03-31 10048561 core:RetainedEarningsAccumulatedLosses 2024-03-31 10048561 core:PlantMachinery 2024-03-31 10048561 2023-03-31 10048561 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure