Reveal GRP Limited - Period Ending 2022-12-31

Reveal GRP Limited

Contents

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

Reveal GRP Limited

Company Information

Director

Ian Robert Crouch

Registered office

37 Market Square Witney Oxfordshire OX28 6RE

Auditors

Just Audit & Assurance Ltd Registered Auditors 37 Market Square Witney Oxfordshire OX28 6RE

Reveal GRP Limited

(Registration number: 06193687)
Balance Sheet as at 31 December 2022

	Note	2022 £	2021 £
Current assets
Debtors	4	-	730,543
Cash at bank and in hand		60,615	105,603
		60,615	836,146
Creditors: Amounts falling due within one year	5	(277,854)	(1,040,796)
Net liabilities		(217,239)	(204,650)
Capital and reserves
Called up share capital	6	90,100	90,100
Retained earnings		(307,339)	(294,750)
Shareholders' deficit		(217,239)	(204,650)

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2023
 

Ian Robert Crouch
Director

Reveal GRP Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1	General information

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

The address of its registered office is:
37 Market Square
Witney
Oxfordshire
OX28 6RE
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements have been prepared on a going concern basis, even though the balance sheet shows negative net worth, as the director has pledged his continuing support to the business.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 30 September 2023 was Martin Wright, who signed for and on behalf of Just Audit & Assurance Ltd.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Reveal GRP Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

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.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Debtors

Current	Note	2022 £	2021 £
Trade debtors		-	4,362
Amounts owed by related parties	7	-	725,994
Other debtors		-	187
		-	730,543

Reveal GRP Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

5

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	250,421	932,597
Taxation and social security		3,296	-
Accruals and deferred income		24,137	5,499
Other creditors		-	102,700
		277,854	1,040,796

6	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary shares of £1 each	90,100	90,100	90,100	90,100

7	Related party transactions

The Company is a wholly owned subsidiiary of its ultimate parent Reveal Group Holdings Inc and has taken advantage of the exemption in FRS102 not to disclose related party transactions with its parent company and other wholly owned group companies.

8	Parent and ultimate parent undertaking

The company's immediate parent is REVEAL GROUP HOLDINGS INC, incorporated in USA.

  These financial statements are available upon request from
330 Madison Avenue
New York
NY 10017
USA