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REGISTERED NUMBER: 05522933 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

RAVENWORKS LIMITED

RAVENWORKS LIMITED (REGISTERED NUMBER: 05522933)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RAVENWORKS LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTOR: J R Barclay





SECRETARY: Mrs C L Barclay





REGISTERED OFFICE: 10 London Mews
London
W2 1HY





REGISTERED NUMBER: 05522933 (England and Wales)





ACCOUNTANTS: Stein Richards
Chartered Accountants
10 London Mews
Paddington
LONDON
W2 1HY

RAVENWORKS LIMITED (REGISTERED NUMBER: 05522933)

BALANCE SHEET
31 July 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6 7
6 7

CURRENT ASSETS
Cash at bank 313 284

CREDITORS
Amounts falling due within one year 6 495,332 429,047
NET CURRENT LIABILITIES (495,019 ) (428,763 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(495,013

)

(428,756

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (495,113 ) (428,856 )
SHAREHOLDERS' FUNDS (495,013 ) (428,756 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 April 2025 and were signed by:





J R Barclay - Director


RAVENWORKS LIMITED (REGISTERED NUMBER: 05522933)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Ravenworks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company has a net deficit and is reliant on the continued support of its creditors. The director considers the going concern basis to be appropriate and therefore the financial statements do not include any adjustments that might result from the withdrawal of support from its creditors.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates. Turnover is in respect of royalties received. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill is measured at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation is charged so as to allocate the cost of goodwill less the residual value over the estimated useful life. Goodwill is amortised over the useful economic life of 10 years.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans to related parties.

The basic financial debtors and liabilities as listed above are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future payments / receipts discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. An impairment review is undertaken annually at the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

RAVENWORKS LIMITED (REGISTERED NUMBER: 05522933)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 100,000
AMORTISATION
At 1 August 2023
and 31 July 2024 100,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 2,868 3,166 6,034
DEPRECIATION
At 1 August 2023 2,861 3,166 6,027
Charge for year 1 - 1
At 31 July 2024 2,862 3,166 6,028
NET BOOK VALUE
At 31 July 2024 6 - 6
At 31 July 2023 7 - 7

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 144 1
Taxation and social security (318 ) (318 )
Other creditors 495,506 429,364
495,332 429,047

7. RELATED PARTY DISCLOSURES

During the year, the director of the company advanced the company loans of £66,110 (2023: £63,420) and was repaid loans of £Nil (2023: £4,000)

At the balance sheet date the company owed the director £493,899 (2023: £427,789). This is included in other creditors.

Loans are repayable on demand.