Company Registration No. 12380039 (England and Wales)
REFYT LTD
Annual report and accounts
for the year ended 31 December 2024
REFYT LTD
Annual report and accounts
Contents
REFYT LTD
Company Information
for the year ended 31 December 2024
Directors
Yahaya Mohamed
Fatima Mohamed
Company Number
12380039 (England and Wales)
Registered Office
Millharbour Court
6 Watergate Walk
London
E14 9XH
United Kingdom
REFYT LTD
Statement of financial position
as at 31 December 2024
Tangible assets
43,585
36,790
Inventories
233,816
15,842
Cash at bank and in hand
89,114
257,840
Creditors: amounts falling due within one year
(119,879)
(43,665)
Net current assets
300,129
259,463
Total assets less current liabilities
343,714
296,253
Creditors: amounts falling due after more than one year
(243,983)
(235,571)
Called up share capital
1
1
Profit and loss account
99,730
60,681
Shareholders' funds
99,731
60,682
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by
Yahaya Mohamed
Director
Company Registration No. 12380039
REFYT LTD
Notes to the Accounts
for the year ended 31 December 2024
REFYT LTD is a private company, limited by shares, registered in England and Wales, registration number 12380039. The registered office is Millharbour Court, 6 Watergate Walk, London, E14 9XH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2023.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 Years
Computer equipment
5 Years
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
REFYT LTD
Notes to the Accounts
for the year ended 31 December 2024
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
12,202
20,800
7,436
9,314
49,752
Additions
-
13,750
1,864
-
15,614
At 31 December 2024
12,202
34,550
9,300
9,314
65,366
At 1 January 2024
5,043
2,766
2,677
2,476
12,962
Charge for the year
1,789
4,160
1,190
1,680
8,819
At 31 December 2024
6,832
6,926
3,867
4,156
21,781
At 31 December 2024
5,370
27,624
5,433
5,158
43,585
At 31 December 2023
7,159
18,034
4,759
6,838
36,790
Amounts falling due within one year
Trade debtors
38,976
1,787
Other debtors
14,025
9,386
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
30,308
26,205
Trade creditors
54,100
14,174
Taxes and social security
34,310
3,092
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
243,983
235,571
8
Average number of employees
During the year the average number of employees was 7 (2023: 4).