Realedge Associates Limited
Realedge Associates Limited
Registered number: 07119449
Unaudited Financial Statements
For The Year Ended 31 January 2019
Paul Monaghan Chartered Accountant
ICAEW
18 Hartshill Close
Uxbridge
Middlesex
UB10 9LH
Realedge Associates Limited
Unaudited Financial Statements
For The Year Ended 31 January 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Realedge Associates Limited
Balance Sheet
As at
31 January 2019
Balance Sheet
Registered number:
07119449
For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 45,988 | 26,010 | |||
Page 1
Realedge Associates Limited
Balance Sheet (continued)
As at
31 January 2019
Directors' responsibilities:
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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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Realedge Associates Limited
Notes to the Financial Statements
For The Year Ended 31 January 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Consultancy income represents revenue earned during the year, based on work done for and accepted by clients, excluding VAT. Income from software licencing where the licence is accepted and agreed by the customer, is recognised over the period of the software licence granted and excludes VAT.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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1.4.
Taxation
Income tax expense represents the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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Page 3
Realedge Associates Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2019
5.
Tangible Assets
| Computer Equipment | |
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| £ | |
| Cost | |
| As at |
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| Additions |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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6.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Other debtors |
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| Directors' loan accounts | 18,388 | - | |
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7.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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| Directors' loan accounts | - |
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Page 4
Realedge Associates Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2019
9.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The Director, Mr Ajay Rathor maintains a current account with the Company whereby credit (owed to the Company) balances are charged interest at the published HMRC non-beneficial loans interest rate, calculated daily.
At 31 January 2019, a balance of £ 18,388 was owed by Mr Rathor to the Company (2018: £Nil).
The maximum amount outstanding in the year was £18,388.
Dividends paid to directors
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Mr Ajay Rathor | 47,500 | 78,500 |
| Mr John Shawe-Taylor | 8,500 | - |
10.
Dividends
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 56,000 | 78,500 | ||
Page 5
Realedge Associates Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2019
11.
Related Party Transactions
The Company's director, Mr Ajay Rathor is a shareholder in Harptec Limited, a company registered is India.
Harptec Limited is a supplier of IT services and is based in India. In the year, software development services to the value of £69,256 (2018: £43,500) were purchased by Realedge Associates Limited from Harptec Limited. The purchases were made on an arms-length, open market value basis.
12.
Ultimate Controlling Party
The company is controlled by the director, Ajay Rathor.
13.
General Information
Realedge Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07119449 . The registered office is 2 Woodberry Grove, London, N12 0DR..
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