RevLifter Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

RevLifter Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10823883 . The registered office is 5 New Street Square, London, EC4A 3TW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

Functional and Presentational Currency

The company's functional and presentational currency is GBP.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	5 years straight line
Fixtures & Fittings	3 years straight line
Computer Equipment	3 years straight line

2.4. Financial Instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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RevLifter Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.8. 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.

2.9. 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.

2.10. Other Additional Accounting Policies

Investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Research and Development Policy

Expenditure on research and development is written off against profits in the year in which it is incurred.

Change in Presentation or Classification

During the year, the company reviewed the classification of its credit card facility. In prior year financial statements, the outstanding credit card balance was presented within cash at bank and in hand. In the current year, this has been reclassified to other creditors to more accurately reflect its nature as a short-term liability.

The comparative figures have been reclassified accordingly to ensure consistency with the current year’s presentation. This reclassification has no impact on the net assets or profit for either period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 34 (2023: 49)

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RevLifter Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2024	47,244	12,176	73,684	133,104

As at 31 December 2024	47,244	12,176	73,684	133,104

Depreciation
As at 1 January 2024	7,734	3,944	71,977	83,655
Provided during the period	9,448	2,267	1,707	13,422

As at 31 December 2024	17,182	6,211	73,684	97,077

Net Book Value
As at 31 December 2024	30,062	5,965	-	36,027

As at 1 January 2024	39,510	8,232	1,707	49,449

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	36,580	29,477
Prepayments and accrued income	2,262,767	1,223,616
Other debtors	113,241	101,063
Amounts owed by subsidiaries	10,856	7,536

	2,423,444	1,361,692

6. Current Asset Investments

	2024	2023
	£	£
Shares in subsidiaries	9	9

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	975,539	791,553
Bank loans and overdrafts	70,000	70,000
Other taxes and social security	265,329	130,531
VAT	56,452	104,353
Net wages	-	12,424
Other creditors	20,283	-
Invoice Factoring	528,699	-
Accruals and deferred income	651,655	579,261

	2,567,957	1,688,122

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RevLifter Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	35,000	105,000
Other loans	1,499,994	1,499,994
Other creditors	180,903	130,191

	1,715,897	1,735,185

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	305	305

10. Related Party Transactions

RevLifter Ltd owns 100% of the equity in RevLifter Corp.and there was £10,856 due from the subsidiary at the year end. (2023: £7,536).

11. Exceptional Items

Included in administrative expenses is exceptional expenditure of £236,114 (2023: £144,435) being legal expenditure.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		36,027		49,449

			36,027		49,449
CURRENT ASSETS
Debtors	5	2,423,444		1,361,692
Investments	6	9		9
Cash at bank and in hand		131,627		2,173,059

		2,555,080		3,534,760
Creditors: Amounts Falling Due Within One Year	7	(2,567,957 )		(1,688,122 )

NET CURRENT ASSETS (LIABILITIES)			(12,877 )		1,846,638

TOTAL ASSETS LESS CURRENT LIABILITIES			23,150		1,896,087

Creditors: Amounts Falling Due After More Than One Year	8		(1,715,897 )		(1,735,185 )

NET (LIABILITIES)/ASSETS			(1,692,747 )		160,902

CAPITAL AND RESERVES
Called up share capital	9		305		305
Share premium account			7,506,526		7,506,526
Profit and Loss Account			(9,199,578 )		(7,345,929 )

SHAREHOLDERS' FUNDS			(1,692,747)		160,902