Registered number
11571211
Revise Right Ltd
Unaudited Filleted Accounts
30 September 2024
Revise Right Ltd
Registered number: 11571211
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 47 -
Current assets
Debtors 4 26,255 26,525
Cash at bank and in hand 2,643 17,548
28,898 44,073
Creditors: amounts falling due within one year 5 (16,393) (19,302)
Net current assets 12,505 24,771
Total assets less current liabilities 12,552 24,771
Creditors: amounts falling due after more than one year 6 (16,320) (18,690)
Net (liabilities)/assets (3,768) 6,081
Capital and reserves
Called up share capital 112 112
Share premium 99,980 99,980
Profit and loss account (103,860) (94,011)
Shareholders' funds (3,768) 6,081
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr F Malone-Lee
Director
Approved by the board on 5 June 2025
Revise Right Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Grants
Grants are accounted for under the accruals model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 1,148
Additions 63
At 30 September 2024 1,211
Depreciation
At 1 October 2023 1,148
Charge for the year 16
At 30 September 2024 1,164
Net book value
At 30 September 2024 47
4 Debtors 2024 2023
£ £
Trade debtors 1,523 845
Deferred tax asset 16,488 18,815
Other debtors 8,244 6,865
26,255 26,525
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,904 10,846
Taxation and social security costs - 3,017
Other creditors 5,489 5,439
16,393 19,302
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,320 18,690
7 Going concern
The accounts have been prepared under the going concern basis, however the company is reliant on continued external investment.
8 Other information
Revise Right Ltd is a private company limited by shares and incorporated in England. Its registered office is:
26 Portland Street
Exeter
EX1 2EQ
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