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Registered number: 07001876
Rytax Consultants Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07001876
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 14,334 28,667
Tangible Assets 5 72,244 34,906
Investments 6 143,792 -
230,370 63,573
CURRENT ASSETS
Stocks 7 8,020 50,848
Debtors 8 - 1,000
Cash at bank and in hand 197,702 65,314
205,722 117,162
Creditors: Amounts Falling Due Within One Year 9 (147,575 ) (63,036 )
NET CURRENT ASSETS (LIABILITIES) 58,147 54,126
TOTAL ASSETS LESS CURRENT LIABILITIES 288,517 117,699
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,061 ) (8,727 )
NET ASSETS 270,456 108,972
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account 269,456 107,972
SHAREHOLDERS' FUNDS 270,456 108,972
Page 1
Page 2
For the year ending 31 January 2025 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 Profit and Loss Account.
On behalf of the board
Mr Richard Yates
Director
12th June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rytax Consultants Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07001876 . The registered office is 16 Arnold Grove, Solihull, West Midlands, B90 3JR.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 3 years.
2.4. 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:
Motor Vehicles 25%
Computer Equipment 25%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 year 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 asset reflects 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 or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was 3 (2024: 3)
3 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 43,000
As at 31 January 2025 43,000
Amortisation
As at 1 February 2024 14,333
Provided during the period 14,333
As at 31 January 2025 28,666
Net Book Value
As at 31 January 2025 14,334
As at 1 February 2024 28,667
5. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 February 2024 39,985 12,887 52,872
Additions 48,370 3,473 51,843
Disposals - (1,831 ) (1,831 )
As at 31 January 2025 88,355 14,529 102,884
Depreciation
As at 1 February 2024 9,996 7,970 17,966
Provided during the period 9,996 3,136 13,132
Disposals - (458 ) (458 )
As at 31 January 2025 19,992 10,648 30,640
Net Book Value
As at 31 January 2025 68,363 3,881 72,244
As at 1 February 2024 29,989 4,917 34,906
Page 4
Page 5
6. Investments
Listed
£
Cost
As at 1 February 2024 -
Additions 147,906
Disposals (9,963 )
Revaluations 5,849
As at 31 January 2025 143,792
Provision
As at 1 February 2024 -
As at 31 January 2025 -
Net Book Value
As at 31 January 2025 143,792
As at 1 February 2024 -
7. Stocks
2025 2024
£ £
Work in progress 8,020 50,848
8. Debtors
2025 2024
£ £
Due within one year
Trade debtors - 1,000
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Corporation tax 102,764 16,450
VAT 27,079 8,054
Director's loan account 17,732 38,532
147,575 63,036
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 5