0 01/06/2023 31/05/2024 2024-05-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-06-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10794814 2023-06-01 2024-05-31 10794814 2024-05-31 10794814 2023-05-31 10794814 2022-06-01 2023-05-31 10794814 2023-05-31 10794814 2022-05-31 10794814 bus:RegisteredOffice 2023-06-01 2024-05-31 10794814 bus:Director1 2023-06-01 2024-05-31 10794814 bus:Director2 2023-06-01 2024-05-31 10794814 bus:Director3 2023-06-01 2024-05-31 10794814 bus:CompanySecretary1 2023-06-01 2024-05-31 10794814 core:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 10794814 core:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 10794814 core:WithinOneYear 2024-05-31 10794814 core:WithinOneYear 2023-05-31 10794814 core:RetainedEarningsAccumulatedLosses 2024-05-31 10794814 core:RetainedEarningsAccumulatedLosses 2023-05-31 10794814 core:RetainedEarningsAccumulatedLosses 2022-05-31 10794814 bus:SmallEntities 2023-06-01 2024-05-31 10794814 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10794814 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10794814 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10794814 bus:FullAccounts 2023-06-01 2024-05-31
Company registration number: 10794814
Remitise Limited
Unaudited filleted financial statements
31 May 2024
Remitise Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Remitise Limited
Directors and other information
Directors Mr Adebayo Adebola Familusi
Mr Oladipupo Olayiwola Selesi
Mrs Mojisola Olayide Selesi
Secretary Adebayo Adebola Familusi
Company number 10794814
Registered office International House
36-38 Cornhill
London
England
EC3V 3NG
Remitise Limited
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 5 32,754 30,338
Cash at bank and in hand 3,555 103,774
_______ _______
36,309 134,112
Creditors: amounts falling due
within one year 6 ( 98,653) ( 97,278)
_______ _______
Net current (liabilities)/assets ( 62,344) 36,834
_______ _______
Total assets less current liabilities ( 62,344) 36,834
_______ _______
Net (liabilities)/assets ( 62,344) 36,834
_______ _______
Capital and reserves
Profit and loss account ( 62,344) 36,834
_______ _______
Shareholders (deficit)/funds ( 62,344) 36,834
_______ _______
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 May 2025 , and are signed on behalf of the board by:
Mr Adebayo Adebola Familusi Mrs Mojisola Olayide Selesi
Director Director
Company registration number: 10794814
Remitise Limited
Statement of changes in equity
Year ended 31 May 2024
Profit and loss account Total
£ £
At 1 June 2022 38,784 38,784
Loss for the year ( 1,950) ( 1,950)
_______ _______
Total comprehensive income for the year ( 1,950) ( 1,950)
_______ _______
At 31 May 2023 and 1 June 2023 36,834 36,834
Loss for the year ( 99,178) ( 99,178)
_______ _______
Total comprehensive income for the year ( 99,178) ( 99,178)
_______ _______
At 31 May 2024 ( 62,344) ( 62,344)
_______ _______
Remitise Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is International House, 36-38 Cornhill, London, England, EC3V 3NG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Staff costs
The average number of persons employed by the company during the year amounted to Nil (2023: Nil).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 37,743 124,867
Other pension costs 3,138 -
_______ _______
40,881 124,867
_______ _______
3
5. Debtors
2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 30,338 30,338
Other debtors 2,416 -
_______ _______
32,754 30,338
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 11,495 ( 5)
Corporation tax 9,097 9,097
Other creditors 78,061 88,186
_______ _______
98,653 97,278
_______ _______