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Registered number: 12091439
RNWL Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 12091439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 147,566 122,225
Tangible Assets 5 2,045 7,960
149,611 130,185
CURRENT ASSETS
Debtors 6 106,199 65,268
Cash at bank and in hand 8,710 187,372
114,909 252,640
Creditors: Amounts Falling Due Within One Year 7 (46,177 ) (27,864 )
NET CURRENT ASSETS (LIABILITIES) 68,732 224,776
TOTAL ASSETS LESS CURRENT LIABILITIES 218,343 354,961
Creditors: Amounts Falling Due After More Than One Year 8 (15,000 ) (20,833 )
NET ASSETS 203,343 334,128
CAPITAL AND RESERVES
Called up share capital 9 17,258 15,925
Share premium account 1,752,236 1,553,570
Other reserves 236,073 -
Income Statement (1,802,224 ) (1,235,367 )
SHAREHOLDERS' FUNDS 203,343 334,128
Page 1
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Goncalo Vasconcelos
Director
04/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
RNWL Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12091439 . The registered office and principal place of business is St John's Innovation Centre, Cowley Road, Cambridge, CB4 0WS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The Director has a reasonable expectation that the company has adequare resources to continue in operational existence for the foreseeable future having made due regard to future cash flows and funding requirements to continue its operations. For this reason, the going concern basis is used in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software development costs. It is amortised to income statement over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 5 years straight line
Computer Equipment 3 years straight line
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
4. Intangible Assets
Other
£
Cost
As at 1 January 2024 163,377
Additions 65,430
As at 31 December 2024 228,807
Amortisation
As at 1 January 2024 41,152
Provided during the period 40,089
As at 31 December 2024 81,241
Net Book Value
As at 31 December 2024 147,566
As at 1 January 2024 122,225
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 January 2024 21,885
Disposals (2,777 )
As at 31 December 2024 19,108
Depreciation
As at 1 January 2024 13,925
Provided during the period 3,138
As at 31 December 2024 17,063
...CONTINUED
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Net Book Value
As at 31 December 2024 2,045
As at 1 January 2024 7,960
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 44,285 -
Prepayments and accrued income 4,401 3,895
Corporation tax recoverable assets 57,513 61,373
106,199 65,268
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,741 2,132
Bank loans and overdrafts 10,000 9,167
Other taxes and social security 28,191 11,102
VAT 883 -
Other creditors 1,027 1,284
Accruals and deferred income 2,936 3,780
Director's loan account 399 399
46,177 27,864
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,000 20,833
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 17,258 15,925
10. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date unpaid contributions of £1,027 (2023: £1,284) were due to the fund. They are included in Other Creditors.
11. Related Party Transactions
At the year end the company owed the Director £399 (2023: £399) which is interest free for past remuneration and reimbursement of out of pocket expenses. 
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