REGISTERED NUMBER: 11775492

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE [RE]DESIGN GROUP LTD

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

333

1,552

CURRENT ASSETS

Debtors

5

135,096

38,501

Cash at bank

179,092

69,994

314,188

108,495

CREDITORS

Amounts falling due within one year

6

(521,329

)

(249,847

)

NET CURRENT LIABILITIES

(207,141

)

(141,352

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(206,808

)

(139,800

)

CREDITORS

Amounts falling due after more than one year

7

(8,334

)

(18,334

)

NET LIABILITIES

(215,142

)

(158,134

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

(215,143

)

(158,135

)

SHAREHOLDERS' FUNDS

(215,142

)

(158,134

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2025 and were signed by:

J Sanginario - Director

1.	GENERAL INFORMATION

The [RE]Design Group Ltd is a private company (limited by shares), incorporated and domiciled in England and Wales. The address of the registered office is 16 Great Chapel Street, London, United Kingdom, W1F 8FL.

The principal activity of the company is providing consultancy services in the field of information technology.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

Going concern

The director considers the going concern basis to be appropriate, having paid due regard to the Company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows.

The company has continued support from its related party creditor and the director, who have confirmed that they will not call in the balances if the company doesn't have funds to pay amounts outstanding within the next 12 months.

Foreign currency translation

Functional and presentational currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non­ monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Revenue

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment - 33%

Taxation

Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Borrowing costs

All borrowing costs are recognised in the statement of income and retained earnings in the year in which they are incurred.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors

Short term creditors are measured at the transaction price

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

Cost

At 1 January 2024

and 31 December 2024

14,829

Depreciation

At 1 January 2024

13,277

Charge for year

1,219

At 31 December 2024

14,496

Net book value

At 31 December 2024

333

At 31 December 2023

1,552

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

117,623

21,606

Other debtors

7,861

6,701

Called up share capital not

paid

1

1

Prepayments

9,611

10,193

135,096

38,501

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

506,179

226,913

Social security and other taxes

-

6,949

Bank loans

10,000

10,000

Accrued expenses

5,150

5,985

521,329

249,847

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

8,334

18,334

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Unpaid

1

1

1

9.	PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £474 (2023: £7,315). Contributions were payable to the fund of £Nil at the balance sheet date (2023: £Nil). The company had made an overpayment on contributions of £3,406 at the balance sheet date, which is sitting within other debtors (2023: £2,294).

10.	RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption in Financial Reporting Standard 102 'Related Party Disclosures' from disclosing related party transactions within a 100% owned group.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is The Drala Project Collective, a company incorporated in the United States of America, owning 100% of the share capital of the company.