Company No:
Contents
DIRECTORS | W Al Saqqaf (Appointed 25 July 2023) |
R J Gardner (Appointed 25 July 2023) | |
D Ward (Appointed 03 September 2024) |
REGISTERED OFFICE | 1 Fore Street Avenue |
London | |
EC2Y 9DT | |
United Kingdom |
COMPANY NUMBER | 15027947 (England and Wales) |
ACCOUNTANT | S&W Partners LLP |
Portwall Place | |
Portwall Lane | |
Bristol | |
BS1 6NA |
Note | 31.12.2024 | |
£ | ||
Fixed assets | ||
Intangible assets | 3 |
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Tangible assets | 4 |
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130,378 | ||
Current assets | ||
Debtors | 5 |
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Cash at bank and in hand |
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5,945,209 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 5,791,851 | |
Total assets less current liabilities | 5,922,229 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 7 |
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Share premium account |
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Profit and loss account | (
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Rebalance Earth Venture Limited (registered number:
W Al Saqqaf
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Rebalance Earth Venture Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The Company was incorporated on 25 July 2023 and commenced trading on this date. This is the Company's first set of financial statements. The address of the Company's registered office is 1 Fore Street Avenue, London, EC2Y 9DT, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Rebalance Earth Venture Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
The financial statements have been prepared on a going concern basis.
The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.
Other intangible assets | not amortised |
Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Period from 25.07.2023 to 31.12.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 25 July 2023 |
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Additions |
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At 31 December 2024 |
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Accumulated amortisation | |||
At 25 July 2023 |
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At 31 December 2024 |
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Net book value | |||
At 31 December 2024 |
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Computer equipment | Total | ||
£ | £ | ||
Cost | |||
At 25 July 2023 |
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Additions |
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At 31 December 2024 |
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Accumulated depreciation | |||
At 25 July 2023 |
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Charge for the financial period |
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At 31 December 2024 |
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Net book value | |||
At 31 December 2024 |
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31.12.2024 | |
£ | |
Prepayments |
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VAT recoverable |
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Deposits |
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31.12.2024 | |
£ | |
Trade creditors |
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Accruals |
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Other taxation and social security |
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Other creditors |
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31.12.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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1.55 |
On 25 March 2024, 2 Ordinary shares were subdivided into 200,000 ordinary shares with a nominal value of £0.000005 per share.
On 25 March 2024, 4,746 Ordinary shares with a nominal value of £0.000005 per share were issued for £29.50 per share.
On 25 March 2024, 35,240 Ordinary shares were redesignated to B Ordinary shares of £0.000005 per share.
On 1 May 2024, 170 Ordinary shares with a nominal value of £0.000005 per share were issued for £29.50 per share.
On 27 May 2024, 6,941 Ordinary shares with a nominal value of £0.000005 per share were issued for £29.50 per share.
On 29 August 2024, 98,128 Ordinary shares with a nominal value of £0.000005 per share were issued for £66.24 per share.
Ordinary and A Ordinary shares hold full dividend and voting rights. B Ordinary shares hold no dividend or voting rights. On winding up, each B Ordinary share is entitled to £29.50.
At the year end, the company had an unprovided deferred tax asset of £225,528 available to offset against future tax charges.