Re:Accounts Limited 07375177 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is the provision of accountancy and business services. Digita Accounts Production Advanced 6.30.9574.0 true 07375177 2023-10-01 2024-09-30 07375177 2024-09-30 07375177 bus:OrdinaryShareClass1 2024-09-30 07375177 bus:OrdinaryShareClass2 2024-09-30 07375177 core:CurrentFinancialInstruments 2024-09-30 07375177 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 07375177 core:Non-currentFinancialInstruments 2024-09-30 07375177 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 07375177 core:FurnitureFittingsToolsEquipment 2024-09-30 07375177 1 2024-09-30 07375177 bus:SmallEntities 2023-10-01 2024-09-30 07375177 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 07375177 bus:FilletedAccounts 2023-10-01 2024-09-30 07375177 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07375177 bus:RegisteredOffice 2023-10-01 2024-09-30 07375177 bus:Director1 2023-10-01 2024-09-30 07375177 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 07375177 bus:OrdinaryShareClass2 2023-10-01 2024-09-30 07375177 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07375177 bus:Agent1 2023-10-01 2024-09-30 07375177 core:ComputerEquipment 2023-10-01 2024-09-30 07375177 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 07375177 core:OfficeEquipment 2023-10-01 2024-09-30 07375177 1 2023-10-01 2024-09-30 07375177 countries:AllCountries 2023-10-01 2024-09-30 07375177 2023-09-30 07375177 core:FurnitureFittingsToolsEquipment 2023-09-30 07375177 2022-10-01 2023-09-30 07375177 2023-09-30 07375177 bus:OrdinaryShareClass1 2023-09-30 07375177 bus:OrdinaryShareClass2 2023-09-30 07375177 core:CurrentFinancialInstruments 2023-09-30 07375177 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 07375177 core:Non-currentFinancialInstruments 2023-09-30 07375177 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 07375177 core:FurnitureFittingsToolsEquipment 2023-09-30 07375177 1 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07375177

Re:Accounts Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Re:Accounts Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 11

 

Re:Accounts Limited

Company Information

Director

Ms Emily Bridges

Registered office

Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

Accountants

Re:Accounts Limited
Chartered AccountantsSuite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF

 

Re:Accounts Limited

(Registration number: 07375177)
Balance Sheet as at 30 September 2024

Note

30 September
2024
£

30 September
2023
£

Fixed assets

 

Tangible assets

4

4,163

2,088

Current assets

 

Stocks

925

-

Debtors

5

31,641

50,997

Cash at bank and in hand

 

5,623

4,719

 

38,189

55,716

Creditors: Amounts falling due within one year

6

(23,579)

(24,628)

Net current assets

 

14,610

31,088

Total assets less current liabilities

 

18,773

33,176

Creditors: Amounts falling due after more than one year

6

(8,669)

(13,704)

Net assets

 

10,104

19,472

Capital and reserves

 

Called up share capital

7

3

3

Retained earnings

10,101

19,469

Shareholders' funds

 

10,104

19,472

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 June 2025
 

.........................................
Ms Emily Bridges
Director

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite 1C Meadway Court
Rutherford Close
Stevenage
Hertfordshire
SG1 2EF
England

These financial statements were authorised for issue by the director on 25 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.

The presentation and functional currency of the company is sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of accountancy, tax and business support 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.

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Office equipment

25% straight line

Computer equipment

25% straight line

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.

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

2

Accounting policies (continued)

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 the director) during the year, was 5 (2023 - 4).

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

7,145

7,145

Additions

4,081

4,081

At 30 September 2024

11,226

11,226

Depreciation

At 1 October 2023

5,057

5,057

Charge for the year

2,006

2,006

At 30 September 2024

7,063

7,063

Carrying amount

At 30 September 2024

4,163

4,163

At 30 September 2023

2,088

2,088

5

Debtors

Current

30 September
2024
£

30 September
2023
£

Trade debtors

12,182

16,276

Prepayments

473

335

Other debtors

18,986

34,386

 

31,641

50,997

6

Creditors

Creditors: amounts falling due within one year

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors (continued)

Note

30 September
2024
£

30 September
2023
£

Due within one year

 

Loans and borrowings

8

2,039

1,072

Trade creditors

 

7,530

3,235

Taxation and social security

 

11,790

16,552

Other creditors

 

2,220

3,769

 

23,579

24,628

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

30 September
2024
£

30 September
2023
£

Due after one year

 

Loans and borrowings

8

8,669

13,704

7

Share capital

Allotted, called up and fully paid shares

30 September
2024

30 September
2023

No.

£

No.

£

A Ordinary of £1 each

2

2

2

2

B Ordinary of £1 each

1

1

1

1

3

3

3

3

8

Loans and borrowings

Non-current loans and borrowings

30 September
2024
£

30 September
2023
£

Bank borrowings

8,669

13,704

Current loans and borrowings

30 September
2024
£

30 September
2023
£

Bank overdrafts

2,039

1,072

Bank borrowings

Bounce back loan is denominated in British pounds with a nominal interest rate of 2.5%, and the final instalment is due on 31 May 2026. The carrying amount at year end is £8,669 (2023 - £13,704).

The loan is the Government backed bounce back loan. It has no security and no personal guarantee on the director

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Related party transactions

At the year end the company owed the director £5,498 (2023; £6,194). The loan is interest free with no fixed date for repayment. The director confirms that she will not withdraw the loan until the company has sufficient cash reserves to continue trading without the loan.

 

Re:Accounts Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

29,160

12,750