Registered number
13641555
Runway Pro Ltd
Filleted Abridged Accounts
30 September 2024
Runway Pro Ltd
Registered number: 13641555
Abridged Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 12,668 9,970
Current assets
Debtors 225,551 256,576
Cash at bank and in hand 841,409 299,859
1,066,960 556,435
Creditors: amounts falling due within one year (230,564) (163,422)
Net current assets 836,396 393,013
Total assets less current liabilities 849,064 402,983
Provisions for liabilities (2,406) (1,894)
Net assets 846,658 401,089
Capital and reserves
Called up share capital 100 100
Profit and loss account 846,558 400,989
Shareholders' funds 846,658 401,089
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Miss K Hodgkinson
Director
Approved by the board on 26 June 2025
Runway Pro Ltd
Notes to the Abridged Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The abridged 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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 25% Reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Investments
Investments
£
Fair Value
At 1 October 2023 9,970
Revaluation 2,698
At 30 September 2024 12,668
Investments were valued on an open market basis at the year end.
4 Loans to directors
Description and conditions B/fwd Loan Repaid C/fwd
£ £ £ £
Miss K Hodgkinson
Unsecured advance repayable upon demand.Interest rate 2.25% per annum. 140,972 22,598 - 163,570
140,972 22,598 - 163,570
5 Other information
Runway Pro Ltd is a private company limited by shares and incorporated in England. Its registered office is:
47 Knowsley Street
Bury
BL9 0ST
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