| Rarelive Limited |
| Registered number: |
02357741 |
| Balance Sheet |
| as at 30 September 2024 |
|
|
Notes |
|
|
2024 |
|
|
2023 |
|
|
|
|
£ |
|
|
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
343,719 |
|
|
353,104 |
| Investments |
4 |
|
|
144,184 |
|
|
142,204 |
|
|
|
|
487,903 |
|
|
495,308 |
| Current assets |
| Debtors |
5 |
|
38,950 |
|
|
33,310 |
| Cash at bank and in hand |
|
|
103,708 |
|
|
131,170 |
|
|
|
142,658 |
|
|
164,480 |
|
| Creditors: amounts falling due within one year |
6 |
|
(8,044) |
|
|
(22,651) |
|
| Net current assets |
|
|
|
134,614 |
|
|
141,829 |
|
| Total assets less current liabilities |
|
|
|
622,517 |
|
|
637,137 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(102,345) |
|
|
(102,345) |
|
|
| Net assets |
|
|
|
520,172 |
|
|
534,792 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
520,170 |
|
|
534,790 |
|
| Shareholders' funds |
|
|
|
520,172 |
|
|
534,792 |
|
|
|
|
|
|
|
|
| The director is 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 director acknowledges his 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. |
|
|
|
|
| Robert Bennett |
| Director |
| Approved by the board on 30 June 2025 |
|
| Rarelive Limited |
| 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). |
|
|
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 from the rendering of services. Turnover from the rendering of services is recognised when the performance obligation has been completed. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation. 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: |
|
|
Freehold land and buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
25% Reducing balance |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. 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. |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
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. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current 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. |
|
|
Leased assets |
|
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
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 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Land and buildings |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
21,751 |
|
451,014 |
|
472,765 |
|
At 30 September 2024 |
21,751 |
|
451,014 |
|
472,765 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
20,292 |
|
99,369 |
|
119,661 |
|
Charge for the year |
365 |
|
9,020 |
|
9,385 |
|
At 30 September 2024 |
20,657 |
|
108,389 |
|
129,046 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 September 2024 |
1,094 |
|
342,625 |
|
343,719 |
|
At 30 September 2023 |
1,459 |
|
351,645 |
|
353,104 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Investments |
| Other |
| investments |
| £ |
|
Cost |
|
At 1 October 2023 |
142,204 |
|
Additions |
1,980 |
|
|
At 30 September 2024 |
144,184 |
|
|
| 5 |
Debtors |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Trade debtors |
34,420 |
|
30,780 |
|
Prepayments |
|
2,530 |
|
2,530 |
|
Other debtors |
2,000 |
|
- |
|
|
|
|
|
|
38,950 |
|
33,310 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Trade creditors |
3,600 |
|
2,400 |
|
Taxation and social security costs |
4,444 |
|
17,403 |
|
Other creditors |
- |
|
2,848 |
|
|
|
|
|
|
8,044 |
|
22,651 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
|
|
|
|
|
|
£ |
|
£ |
|
|
Other creditors |
102,345 |
|
102,345 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Rarelive Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Riverside Suite |
|
50A Clifford Way |
|
Maidstone |
|
Kent |
|
ME16 8GD |