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REBANK TECHNOLOGIES LIMITED

Registered Number
09695886
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

REBANK TECHNOLOGIES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

ANDRADE GONZALEZ, Juan Carlos
BOREHAM, James Elliott

Registered Address

81 Rivington Street
London
EC2A 3AY

Registered Number

09695886 (England and Wales)
REBANK TECHNOLOGIES LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,2017,616
12,2017,616
Current assets
Debtors4352,382263,086
Cash at bank and on hand70,74923,952
423,131287,038
Creditors amounts falling due within one year5(371,339)(136,963)
Net current assets (liabilities)51,792150,075
Total assets less current liabilities63,993157,691
Creditors amounts falling due after one year6(276,123)-
Net assets(212,130)157,691
Capital and reserves
Called up share capital1,878,0211,878,021
Other reserves750,158750,158
Profit and loss account(2,840,309)(2,470,488)
Shareholders' funds(212,130)157,691
The financial statements were approved and authorised for issue by the Board of Directors on 23 May 2025, and are signed on its behalf by:
ANDRADE GONZALEZ, Juan Carlos
Director
Registered Company No. 09695886
REBANK TECHNOLOGIES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The director considers the basis to be appropriate as the parent company, Sum Technologies Inc, will have sufficient reserves to support the company to trade for a minimum of 12 months from the period end.
Turnover policy
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 rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted, or substantially enacted, at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year68
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 2324,94524,945
Additions9,7779,777
Disposals(1,920)(1,920)
At 31 October 2432,80232,802
Depreciation and impairment
At 01 November 2317,32917,329
Charge for year4,5064,506
On disposals(1,234)(1,234)
At 31 October 2420,60120,601
Net book value
At 31 October 2412,20112,201
At 31 October 237,6167,616
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables181,18569,411
Other debtors146,820182,782
Prepayments and accrued income24,37710,893
Total352,382263,086
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,34837,513
Taxation and social security162,63224,132
Other creditors281,688
Accrued liabilities and deferred income201,33173,630
Total371,339136,963
6.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties276,123-
Total276,123-
Included in Creditors amounts due after one year is an intercompany loan totalling £276,123 due to the parent company, Sum Technologies Inc, based in the United States of America.
7.Further information regarding the company's financial position
Included in Other Reserves is a Capital Contribution totalling £750,158 from the parent company, Sum Technologies Inc, based in the United States of America. The Capital Contribution is expected to convert into Issued Share Capital at a later date.