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Registration number: 08970094

Real Ideas Trading Limited

Filleted Financial Statements

for the Year Ended 31 July 2024

 

Real Ideas Trading Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 10

 

Real Ideas Trading Limited

Company Information

Directors

Ms LV Hall

Mr DJ Nottage

Mr M Kern

K Reed

Company secretary

Mr S Clark

Registered office

Devonport Guildhall
Ker Street
Plymouth
Devon
PL1 4EL

Auditors

Harland Accountants (Newquay) Ltd Ground Floor, Unit 3 Southview House St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

Real Ideas Trading Limited

(Registration number: 08970094)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

26,664

42,579

Current assets

 

Stocks

5

12,558

15,333

Debtors

6

487,951

491,870

Investments

7

20

20

Cash at bank and in hand

 

96,886

77,786

 

597,415

585,009

Creditors: Amounts falling due within one year

8

(321,762)

(227,193)

Net current assets

 

275,653

357,816

Total assets less current liabilities

 

302,317

400,395

Creditors: Amounts falling due after more than one year

8

(175,276)

(250,024)

Net assets

 

127,041

150,371

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

127,040

150,370

Shareholders' funds

 

127,041

150,371

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 June 2025 and signed on its behalf by:
 

.........................................
Ms LV Hall
Director

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Devonport Guildhall
Ker Street
Plymouth
Devon
PL1 4EL
United Kingdom

These financial statements were authorised for issue by the Board on 13 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 13 June 2025 was Deborah Edwards, who signed for and on behalf of Harland Accountants (Newquay) Ltd.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

10 years straight line

Office Equipment

3 years straight line

Equipment

5 years straight line

Leasehold Improvements

10/15/125 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 85 (2023 - 84).

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

14,083

92,123

61,885

168,091

Additions

-

3,400

-

3,400

At 31 July 2024

14,083

95,523

61,885

171,491

Depreciation

At 1 August 2023

4,042

64,215

57,255

125,512

Charge for the year

1,452

14,371

3,492

19,315

At 31 July 2024

5,494

78,586

60,747

144,827

Carrying amount

At 31 July 2024

8,589

16,937

1,138

26,664

At 31 July 2023

10,041

27,908

4,630

42,579

Included within the net book value of land and buildings above is £8,589 (2023 - £10,040) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

12,558

15,333

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

94,509

95,384

Amounts owed by related parties

299,543

244,014

Prepayments

 

90,725

31,754

Other debtors

 

3,174

120,718

   

487,951

491,870

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

7

Current asset investments

2024
£

2023
£

Other investments

20

20

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

48,044

21,339

Trade creditors

 

71,522

41,475

Taxation and social security

 

46,836

33,644

Accruals and deferred income

 

34,594

44,166

Other creditors

 

120,766

86,569

 

321,762

227,193

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

175,276

250,024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

175,276

250,024

Current loans and borrowings

2024
£

2023
£

Other borrowings

48,044

21,339

 

Real Ideas Trading Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

4,030

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2023 - £Nil).

12

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £1,036,779).

13

Parent and ultimate parent undertaking

The company's immediate parent is Real Ideas Organisation CIC, incorporated in England and Wales.