Registered number: 12292444
UNAUDITED
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 DECEMBER 2024
REVIV TECHNOLOGY LTD
COMPANY INFORMATION
REVIV TECHNOLOGY LTD
CONTENTS
Report to the director on the preparation of the unaudited statutory financial statements of Reviv Technology Ltd for the year ended 30 December 2024
We have compiled the accompanying financial statements of Reviv Technology Ltd (the ‘company’) based on the information you have provided. These financial statements comprise the Statement of Financial Position of Reviv Technology Ltd as at 30 December 2024, and a summary of significant accounting policies and other explanatory information.
We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.
We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com.
These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.
Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
This report is made solely to the company's director in accordance with the terms of our engagement letter dated 31 July 2025. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the company's director in this report in accordance with our engagement letter dated 31 July 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.
Grant Thornton UK LLP
Chartered Accountants
Liverpool
30 September 2025
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REVIV TECHNOLOGY LTD
REGISTERED NUMBER: 12292444
STATEMENT OF FINANCIAL POSITION
AS AT 30 DECEMBER 2024
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REVIV TECHNOLOGY LTD
REGISTERED NUMBER: 12292444
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 DECEMBER 2024
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 9 form part of these financial statements.
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
Reviv Technology Ltd is a private company limited by shares, incorporated in England and Wales. Its registered number is 12292444, and its registered head office is located at 10a Little Peter Street, Manchester, M15 4PS.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The company’s functional and presentation currency is Sterling and all values are rounded to the nearest pound (£) except when otherwise stated.
The following principal accounting policies have been applied:
Notwithstanding the loss for the year, the net current liabilities and shareholder deficit, the directors believe it is appropriate for the financial statements to be prepared on a going concern basis due to the fact that the company has the support from its fellow group undertakings and its ultimate parent undertaking, Reviv Global Ltd.
The Group headed by Reviv Global Ltd has continued to require the support from shareholders and investors, both in respect of providing additional financial support, but also in respect of not calling for loan facilities to be repaid in line with the agreements in place. In addition, the Group are in discussions with current investors to revisit the terms of the loans they have in place and extend the repayment / conversion date of these loans.
The current macroeconomic situation in the United Kingdom, including the increase in the cost of living and high interest rates and the downturn in the global economy continues to have an impact on both individuals and businesses and as a result, the growth that the Group has achieved.
Based upon the information available and ongoing discussions with shareholders and investors, the directors consider that the Group has ample liquidity to continue in business for at least the next 12 months from the date of approving and signing the accounts as a going concern. As a result, the directors consider that Reviv Global Ltd is able to provide financial support to the company.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
The Group headed by Reviv Global Ltd has continued to require the support from shareholders and investors, both in respect of providing additional financial support, but also in respect of not calling for loan facilities to be repaid in line with the agreements in place. In addition, the Group are in discussions with current investors to revisit the terms of the loans they have in place and extend the repayment / conversion date of these loans.
The current macroeconomic situation in the United Kingdom, including the increase in the cost of living and high interest rates and the downturn in the global economy continues to have an impact on both individuals and businesses and as a result, the growth that the Group has achieved.
Based upon the information available and ongoing discussions with shareholders and investors, the directors consider that the Group has ample liquidity to continue in business for at least the next 12 months from the date of approving and signing the accounts as a going concern. As a result, the directors consider that Reviv Global Ltd is able to provide financial support to the company.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
2.Accounting policies (continued)
Computer software is considered to have a 3 year useful life.
The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's Statement of Financial Position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due within the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
2.Accounting policies (continued)
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
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REVIV TECHNOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2024
The immediate and ultimate parent undertaking is Reviv Global Ltd, a company registered in England & Wales. Reviv Global Ltd's registered office is 10a Little Peter Street, Manchester, M15 4PS.
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