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Company Registration No. 12118557 (England and Wales)
REFNOW LTD Unaudited accounts for the year ended 31 July 2025
REFNOW LTD Unaudited accounts Contents
Page
Company information
3
Accountants' report
4
Statement of financial position
5
Notes to the accounts
6
- 2 -
REFNOW LTD Company Information for the year ended 31 July 2025
Directors
James Fall Jordan Gutteridge Benjamin Adams
Company Number
12118557 (England and Wales)
Registered Office
71-75 SHELTON STREET LONDON WC2H 9JQ UNITED KINGDOM
Accountants
Tungsten Wolfram Ltd Stanton Court London N3 2DF
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REFNOW LTD Accountants' report
Accountants' report to the board of directors of REFNOW LTD on the preparation of the unaudited statutory accounts for the year ended 31 July 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of REFNOW LTD for the year ended 31 July 2025 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of REFNOW LTD, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of REFNOW LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than REFNOW LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that REFNOW LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of REFNOW LTD. You consider that REFNOW LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of REFNOW LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Tungsten Wolfram Ltd Stanton Court London N3 2DF 30 August 2025
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REFNOW LTD Statement of financial position as at 31 July 2025
2025
2024
Notes
£
£
Called up share capital not paid
300
274
Fixed assets
Tangible assets
4
1,374
2,747
Current assets
Debtors
5
62,703
55,455
Cash at bank and in hand
390,932
75,584
453,635
131,039
Creditors: amounts falling due within one year
6
(350,340)
(118,541)
Net current assets
103,295
12,498
Total assets less current liabilities
104,969
15,519
Creditors: amounts falling due after more than one year
7
(781)
-
Net assets
104,188
15,519
Capital and reserves
Called up share capital
8
300
274
Profit and loss account
103,888
15,245
Shareholders' funds
104,188
15,519
For the year ending 31 July 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 30 November 2025 and were signed on its behalf by
James Fall Director Company Registration No. 12118557
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REFNOW LTD Notes to the Accounts for the year ended 31 July 2025
1
Statutory information
REFNOW LTD is a private company, limited by shares, registered in England and Wales, registration number 12118557. The registered office is 71-75 SHELTON STREET, LONDON, WC2H 9JQ, 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.
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.
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:
Computer equipment
50% Reducing Balance
Foreign exchange
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.
Going concern
Accounts are prepared on the basis of continuing to trade as a going concern
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.
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.
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REFNOW LTD Notes to the Accounts for the year ended 31 July 2025
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.
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.
4
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 August 2024
11,915
Additions
128
At 31 July 2025
12,043
Depreciation
At 1 August 2024
9,168
Charge for the year
1,501
At 31 July 2025
10,669
Net book value
At 31 July 2025
1,374
At 31 July 2024
2,747
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
59,969
1,317
Other debtors
2,734
54,138
62,703
55,455
6
Creditors: amounts falling due within one year
2025
2024
£
£
VAT
17,034
14,561
Trade creditors
-
3,722
Taxes and social security
75,051
8,000
Other creditors
2,095
1
Loans from directors
-
545
Deferred income
256,160
91,712
350,340
118,541
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REFNOW LTD Notes to the Accounts for the year ended 31 July 2025
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
781
-
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300
274
Shares issued during the period:
26 Ordinary shares of £1 each
26
9
Average number of employees
During the year the average number of employees was 3 (2024: 3).
- 8 -