REGISTERED NUMBER: 08802398 (England and Wales)

Financial Statements for the Year Ended 31st December 2024

for

Refined Commerce Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R D Burgess

SECRETARY:

Mrs D Burgess

REGISTERED OFFICE:

2 Levalsa

London Apprentice

St. Austell

Cornwall

PL26 7AW

REGISTERED NUMBER:

08802398 (England and Wales)

ACCOUNTANTS:

Vitta Advisory Limited

54 Newberries Avenue

Radlett

WD7 7EP

FIXED ASSETS

Property, plant and equipment

4

38,706

51,608

CURRENT ASSETS

Debtors

5

463,659

459,769

Cash at bank

24,302

115,288

487,961

575,057

CREDITORS

Amounts falling due within one year

6

(468,730

)

(570,148

)

NET CURRENT ASSETS

19,231

4,909

TOTAL ASSETS LESS CURRENT LIABILITIES

57,937

56,517

CREDITORS

Amounts falling due after more than one year

7

(9,220

)

(25,979

)

NET ASSETS

48,717

30,538

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

48,716

30,537

48,717

30,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25th September 2025 and were signed by:

R D Burgess - Director

1.	STATUTORY INFORMATION

Refined Commerce Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st January 2024

and 31st December 2024

5,132

120

77,499

3,057

85,808

DEPRECIATION

At 1st January 2024

2,864

120

28,159

3,057

34,200

Charge for year

567

-

12,335

-

12,902

At 31st December 2024

3,431

120

40,494

3,057

47,102

NET BOOK VALUE

At 31st December 2024

1,701

-

37,005

-

38,706

At 31st December 2023

2,268

-

49,340

-

51,608

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

32,915

27,443

Amounts owed by group undertakings

430,744

432,287

Other debtors

-

39

463,659

459,769

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

853

-

Hire purchase contracts

20,110

20,110

Amounts owed to group undertakings

57,000

255,000

Taxation and social security

11,208

24,498

Other creditors

379,559

270,540

468,730

570,148

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Hire purchase contracts

9,220

25,979

8.	RELATED PARTY DISCLOSURES

Refined Commerce Ltd is a wholly owned subsidiary of Burgess Developments Holdings Ltd. The company has entered into transactions with other entities under common control.

At the balance sheet date, the following amounts were outstanding in respect of related party balances:

- £57,000 (2024: £255,000) was owed to the parent company, Burgess Developments Holdings Ltd. The balance is unsecured, interest-free and repayable on demand.

- £430,744 (2024: £432,287) was owed by a fellow subsidiary, Burgess Property Projects Ltd. The balance is unsecured, interest-free and has no fixed terms of repayment.

These balances arose from intercompany trading and cost-sharing arrangements. No guarantees were given or received in respect of these balances.

There were no other material transactions with related parties during the year.