Recbid.com Limited - Accounts

RECBID.COM LIMITED - Company Information

2021-04-01 2022-03-31 false No description of principal activity Capium Accounts Production 1.1 11198742 bus:FullAccounts 2021-04-01 2022-03-31 11198742 bus:FRS102 2021-04-01 2022-03-31 11198742 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11198742 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 11198742 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11198742 2021-04-01 2022-03-31 11198742 2022-03-31 11198742 bus:RegisteredOffice 2021-04-01 2022-03-31 11198742 core:WithinOneYear 2022-03-31 11198742 core:AfterOneYear 2022-03-31 11198742 bus:Director1 2021-04-01 2022-03-31 11198742 bus:Director1 2022-03-31 11198742 bus:Director1 2020-04-01 2021-03-31 11198742 2020-04-01 11198742 bus:CompanySecretary1 2021-04-01 2022-03-31 11198742 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 11198742 2020-04-01 2021-03-31 11198742 2021-03-31 11198742 core:WithinOneYear 2021-03-31 11198742 core:AfterOneYear 2021-03-31 11198742 bus:EntityAccountantsOrAuditors 2020-04-01 2021-03-31 11198742 core:FurnitureFittings 2021-04-01 2022-03-31 11198742 core:FurnitureFittings 2022-03-31 11198742 core:FurnitureFittings 2021-03-31 11198742 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-03-31 11198742 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2021-03-31 11198742 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 11198742 core:CostValuation core:Non-currentFinancialInstruments 2021-03-31 11198742 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2022-03-31 11198742 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 11198742 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2022-03-31 11198742 core:Non-currentFinancialInstruments 2022-03-31 11198742 core:Non-currentFinancialInstruments 2021-03-31 11198742 core:ShareCapital 2022-03-31 11198742 core:ShareCapital 2021-03-31 11198742 core:SharePremium 2022-03-31 11198742 core:SharePremium 2021-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2022-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2021-03-31 11198742 core:ShareCapitalOrdinaryShares 2021-04-01 11198742 core:ShareCapitalOrdinaryShares 2020-04-01 11198742 core:ShareCapitalOrdinaryShares 2021-04-01 2022-03-31 11198742 core:ShareCapitalOrdinaryShares 2020-04-01 2021-03-31 11198742 core:ShareCapitalOrdinaryShares 2022-03-31 11198742 core:ShareCapitalOrdinaryShares 2021-03-31 11198742 core:SharePremiumOrdinaryShares 2021-04-01 11198742 core:SharePremiumOrdinaryShares 2020-04-01 11198742 core:SharePremiumOrdinaryShares 2021-04-01 2022-03-31 11198742 core:SharePremiumOrdinaryShares 2020-04-01 2021-03-31 11198742 core:SharePremiumOrdinaryShares 2022-03-31 11198742 core:SharePremiumOrdinaryShares 2021-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2021-04-01 11198742 core:RetainedEarningsAccumulatedLosses 2020-04-01 11198742 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2022-03-31 11198742 core:RetainedEarningsAccumulatedLosses 2021-03-31 11198742 dpl:Item1 2021-04-01 11198742 dpl:Item1 2022-03-31 11198742 dpl:Item1 2020-04-01 11198742 dpl:Item1 2021-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered Number: 11198742

England and Wales

RECBID.COM LIMITED

Unaudited Financial Statements

Period of accounts

Start date: 01 April 2021

End date: 31 March 2022

Recbid.com Limited
Contents Page
For the year ended 31 March 2022

Company information	1
Directors' report	2
Statement of financial position	3
Statement of changes in equity	4
Notes to the financial statements	5

Recbid.com Limited
Company Information
For the year ended 31 March 2022

Director	Nicholas Clarkin
Registered Number	11198742
Registered Office	Hosehill Farm Hosehill Sulhamstead, Reading United Kingdom RG7 4BB
Accountants	Strategic Accounts Solutions Ltd Unit 305A, Lonsdale House 52 Blucher Street Birmingham B1 1QU

Recbid.com Limited
Directors' Report
For the year ended 31 March 2022

Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 March 2022

Directors
The directors who served the company throughout the year were as follows:

Nicholas Clarkin

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board and signed on its behalf by:

----------------------------------
Nicholas Clarkin
Director

Date approved: 15 December 2022

Recbid.com Limited
Statement of Financial Position
As at 31 March 2022

	Notes	2022 £	2021 £
Fixed assets
Tangible fixed assets	3	392	779
		392	779
Current assets
Debtors	4	97,214	44,214
Cash at bank and in hand		62,426	28,895
		159,640	73,109
Creditors: amount falling due within one year	5	(190,647)	(106,388)
Net current liabilities		(31,007)	(33,279)

Total assets less current liabilities		(30,615)	(32,500)
Net liabilities		(30,615)	(32,500)

Capital and reserves
Called up share capital		11	10
Share premium account	6	731,991	536,992
Profit and loss account		(762,617)	(569,502)
Shareholder's funds		(30,615)	(32,500)

For the year ended 31 March 2022 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.
The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.

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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the board of directors on 15 December 2022 and were signed on its behalf by:

--------------------------------
Nicholas Clarkin
Director

Recbid.com Limited
Statement of Changes in Equity
For the year ended 31 March 2022

	Equity share capital	Equity share premium	Retained Earnings	Total
	£	£	£	£
At 01 April 2020	10	509,992	(433,548)	76,454
Profit for the year			(135,954)	(135,954)
Total comprehensive income for the year	-	-	(135,954)	(135,954)
Equity share premium - new issue		27,000		27,000
Total investments by and distributions to owners	-	27,000	-	27,000
At 31 March 2021	10	536,992	(569,502)	(32,500)
At 01 April 2021	10	536,992	(569,502)	(32,500)
Profit for the year			(193,115)	(193,115)
Total comprehensive income for the year	-	-	(193,115)	(193,115)
Shares issued	1			1
Equity share premium - new issue		194,999		194,999
Total investments by and distributions to owners	1	194,999	-	195,000
At 31 March 2022	11	731,991	(762,617)	(30,615)

Recbid.com Limited
Notes to the Financial Statements
For the year ended 31 March 2022

General Information

Recbid.com Limited is a private company, limited by shares, registered in England and Wales, registration number 11198742, registration address Hosehill Farm Hosehill, Sulhamstead, Reading, United Kingdom, RG7 4BB.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)

Going concern basis

The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fittings fixtures and equipment - 33.33% straight line

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.	Average number of employees Average number of employees during the year was 1 (2021 : 2).

Tangible fixed assets

Cost or valuation	Fixtures and Fittings	Total
	£	£
At 01 April 2021	2,020	2,020
Additions	179	179
Disposals	-	-
At 31 March 2022	2,199	2,199
Depreciation
At 01 April 2021	1,241	1,241
Charge for year	566	566
On disposals	-	-
At 31 March 2022	1,807	1,807
Net book values
Closing balance as at 31 March 2022	392	392
Opening balance as at 01 April 2021	779	779

Debtors: amounts falling due within one year

	2022 £	2021 £
Prepayments & Accrued Income	2,349	1,100
Amounts Owed by Group Undertakings	94,493	0
Corporation tax recoverable	0	42,770
VAT	372	344
	97,214	44,214

Creditors: amount falling due within one year

	2022 £	2021 £
Trade Creditors	24,579	15,599
Amounts Owed to Group Undertakings	0	28,328
Accrued Expenses	85,000	55,000
Other Creditors	75,000	0
Credit card	2,117	1,499
Directors' Current Accounts	3,951	5,962
	190,647	106,388

Share premium account

	2022 £	2021 £
Equity Share Premium b/fwd	536,992	509,992
Equity Share Premium - New Issue	194,999	27,000
	731,991	536,992