Ravenware Limited - Period Ending 2021-10-31

Ravenware Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Ravenware Limited

Company Information

Directors

Mr N E Hewitt Mr G Hickton Mr R Moetamedi

Registered office

3 The Clocktower Manor Lane Holmes Chapel Crewe CW4 8DJ

Accountants

Tree Accountancy Limited Chartered Certified Accountants First Floor Eastgate Castle Street Castlefield Manchester M3 4LZ

Ravenware Limited

(Registration number: 10439055)
Balance Sheet as at 31 October 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	22,500	40,500
Cash at bank and in hand		38,462	23,938
		60,962	64,438
Creditors: Amounts falling due within one year	5	(67,143)	(70,944)
Net liabilities		(6,181)	(6,506)
Capital and reserves
Called up share capital		200	200
Profit and loss account		(6,381)	(6,706)
Shareholders' deficit		(6,181)	(6,506)

For the financial year ending 31 October 2021 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 April 2022 and signed on its behalf by:
 

......................................... Mr R Moetamedi Director

Ravenware Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The company's registration number is: 10439055

The address of its registered office is:
3 The Clocktower Manor Lane
Holmes Chapel
Crewe
CW4 8DJ
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company relies on the financial support of certain creditors and its director. The director anticipates that this financial support will continue for the foreseeable future. On the basis, the director considers it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result, should the financial support be withdrawn or be insufficient and if the company was unable to continue as a going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Ravenware Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2020 - 3).

4

Debtors

	2021 £	2020 £
Trade debtors	22,500	40,500
	22,500	40,500

Ravenware Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	11,046	1,808
Taxation and social security	6,343	13,064
Accruals and deferred income	48,404	54,722
Other creditors	1,350	1,350
	67,143	70,944

6	Related party transactions

Summary of transactions with other related parties

During the period the company made sales to the value of £53,033 (2020 - £28,355) to a related party which is related via common directors and shareholders. During the period, there were also recharges from the related party for salaries and other expenses to the value of £18,587. At the balance sheet date, the amount owing was £8902 (2020 - £Nil).

During the year, the company received professional services to the value of £39,162 from a business which is related via a common director and shareholder.