Ringback Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01621211 (England and Wales)

Abridged Unaudited Financial Statements for the Year Ended 30 April 2023

for

RINGBACK LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C M Oundjian

N Maatouk

M M Oundjian

SECRETARY:

Mrs C M Oundjian

REGISTERED OFFICE:

Unit 4

Cowley Road

Acton Vale Industrial Park

Acton

London

W3 7XA

REGISTERED NUMBER:

01621211 (England and Wales)

ACCOUNTANTS:

Garo & Co UK LLP

Chartered Certified Accountants

27 Daventry Street

London

NW1 6TD

FIXED ASSETS

Tangible assets

4

159,144

163,406

CURRENT ASSETS

Stocks

711,376

536,331

Debtors

597,016

566,776

Cash at bank and in hand

110,622

153,032

1,419,014

1,256,139

CREDITORS

Amounts falling due within one year

735,203

742,933

NET CURRENT ASSETS

683,811

513,206

TOTAL ASSETS LESS CURRENT LIABILITIES

842,955

676,612

PROVISIONS FOR LIABILITIES

4,500

4,100

NET ASSETS

838,455

672,512

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

838,355

672,412

SHAREHOLDERS' FUNDS

838,455

672,512

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 January 2024 and were signed on its behalf by:

N Maatouk - Director

M M Oundjian - Director

1.	STATUTORY INFORMATION

Ringback Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Land is not depreciated. The estimated useful life of the building, in the opinion of the directors, is in excess of 200 years. Therefore no depreciation is provided on the building as the amount will be immaterial.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future despite the continuing issues caused by COVID-19 and its impact on the company and wider economy. Based on this review and taken together with existing financing facilities and plans the directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 May 2022

and 30 April 2023

182,527

DEPRECIATION

At 1 May 2022

19,121

Charge for year

4,262

At 30 April 2023

23,383

NET BOOK VALUE

At 30 April 2023

159,144

At 30 April 2022

163,406

5.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.23

30.4.22

£

£

Bank overdrafts

9

86,691

The bank has the right to set off the overdraft against the company's other non overdrawn accounts with the same bank.