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Company Registration No. SC506885 (Scotland)
Revive Eco Ltd. Unaudited accounts for the year ended 31 May 2025
Revive Eco Ltd. Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Revive Eco Ltd. Company Information for the year ended 31 May 2025
Directors
Scott Kennedy Harvey Stuart Laud Fergus Moore John Waddell Gabriel Investments Limited
Company Number
SC506885 (Scotland)
Registered Office
Biocity Scotland Bo'Ness Road Newhouse Motherwell ML1 5UH Scotland
Accountants
FinFlare Limited Mitchell House 5 Mitchell Street Edinburgh Midlothian EH6 7BD
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Revive Eco Ltd. Statement of financial position as at 31 May 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
27,118
25,962
Current assets
Debtors
5
15,898
7,470
Cash at bank and in hand
108,691
66,635
124,589
74,105
Creditors: amounts falling due within one year
6
7,839
15,587
Net current assets
132,428
89,692
Total assets less current liabilities
159,546
115,654
Creditors: amounts falling due after more than one year
7
(4,545)
(11,715)
Net assets
155,001
103,939
Capital and reserves
Called up share capital
8
14
13
Share premium
1,036,644
681,497
Profit and loss account
(881,657)
(577,571)
Shareholders' funds
155,001
103,939
For the year ending 31 May 2025 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 12 August 2025 and were signed on its behalf by
Scott Kennedy Director Company Registration No. SC506885
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Revive Eco Ltd. Notes to the Accounts for the year ended 31 May 2025
1
Statutory information
Revive Eco Ltd. is a private company, limited by shares, registered in Scotland, registration number SC506885. The registered office is Biocity Scotland, Bo'Ness Road, Newhouse, Motherwell, ML1 5UH, Scotland.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company has made considerable investment in the development of technology to extract materials for manufacture of cosmetic ingredients from waste foodstuff products. Accordingly, the company has incurred planned losses to date, which have been met by equity funding from shareholders. The directors have implemented an appropriate system if internal control including regular board meetings, preparation of management information and cash flow projections. The directors consider. that the company has sufficient resources available to continue as a going concern for a period of no less than 12 months from the date of approval of these financial statements. In making this assessment, the director have considered financial projections and relevant information available at the date of approval of these financial statements.
Turnover
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.
Government grants
Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received. A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
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 or loss.
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Revive Eco Ltd. Notes to the Accounts for the year ended 31 May 2025
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight line or reducing balance basis over its expected useful life, as follows:
Plant & machinery
4 years straight line
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
£
Cost or valuation
At cost
At 1 June 2024
60,275
Additions
15,463
At 31 May 2025
75,738
Depreciation
At 1 June 2024
34,313
Charge for the year
14,307
At 31 May 2025
48,620
Net book value
At 31 May 2025
27,118
At 31 May 2024
25,962
5
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
11,933
4,183
Accrued income and prepayments
1,203
525
Other debtors
2,762
2,762
15,898
7,470
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Revive Eco Ltd. Notes to the Accounts for the year ended 31 May 2025
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
6,568
6,568
Trade creditors
18,368
987
Taxes and social security
(40,712)
(31,655)
Loans from directors
4,058
4,058
Accruals
3,879
4,455
(7,839)
(15,587)
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
4,545
11,715
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
1,431,941 Ordinary shares of £0.00001 each
14.31
12.70
Shares issued during the period:
161,046 Ordinary shares of £0.00001 each
1.61
9
Average number of employees
During the year the average number of employees was 7 (2024: 6).
- 7 -