Relayfactor Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02531340

RELAYFACTOR LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

28 February 2025

RELAYFACTOR LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		65,664		72,453

CURRENT ASSETS

Stocks		12,480	12,000
Debtors	7	80,601	132,517
Cash at bank and in hand		27	906
		--------	---------
		93,108	145,423

CREDITORS: amounts falling due within one year	8	198,680		215,297
		---------		---------
NET CURRENT LIABILITIES			105,572		69,874
			---------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 39,908)		2,579

CREDITORS: amounts falling due after more than one year	9	3,315	13,786
		--------	--------
NET LIABILITIES		( 43,223)	( 11,207)
		--------	--------

CAPITAL AND RESERVES

Called up share capital fully paid	100	100
Profit and loss account	( 43,323)	( 11,307)
	--------	--------
SHAREHOLDERS DEFICIT	( 43,223)	( 11,207)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

RELAYFACTOR LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 25 November 2025 , and are signed on behalf of the board by:

Mr W B Currie

Director

Company registration number: 02531340

RELAYFACTOR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the directors. On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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 and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 4 (2024: 5 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 March 2024 and 28 February 2025	10,800
	--------
Amortisation
At 1 March 2024 and 28 February 2025	10,800
	--------
Carrying amount
At 28 February 2025	–
	--------
At 29 February 2024	–
	--------

6. TANGIBLE ASSETS

	Freehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Mar 2024 and 28 Feb 2025	30,000	110,603	13,512	33,234	750	188,099
	--------	---------	--------	--------	----	---------
Depreciation
At 1 Mar 2024	–	71,960	12,827	30,426	433	115,646
Charge for the year	–	5,796	103	702	188	6,789
	--------	---------	--------	--------	----	---------
At 28 Feb 2025	–	77,756	12,930	31,128	621	122,435
	--------	---------	--------	--------	----	---------
Carrying amount
At 28 Feb 2025	30,000	32,847	582	2,106	129	65,664
	--------	---------	--------	--------	----	---------
At 29 Feb 2024	30,000	38,643	685	2,808	317	72,453
	--------	---------	--------	--------	----	---------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	67,860	63,937
Other debtors	12,741	68,580
	--------	---------
	80,601	132,517
	--------	---------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	29,699	28,311
Trade creditors	95,958	92,644
Corporation tax	37,038	48,949
Social security and other taxes	12,466	16,299
Other creditors	23,519	29,094
	---------	---------
	198,680	215,297
	---------	---------

9. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	3,315	13,786
	-------	--------

10. GOING CONCERN

The directors have considered the period to November 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr W B Currie	68,580	212,339	( 287,053)	( 6,134)
	--------	---------	---------	-------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr W B Currie	60,543	228,733	( 220,696)	68,580
	--------	---------	---------	--------