Every Run Counts Ltd
Every Run Counts Ltd
Registered number: 13721428
Unaudited Financial Statements
For The Year Ended 31 December 2023
E. H. Taylors
203 London Road
Hadleigh
Benfleet
Essex
SS7 2RD
Every Run Counts Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents | |
Page | |
---|---|
Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Every Run Counts Ltd
Balance Sheet
As At
31 December 2023
Balance Sheet
Registered number:
13721428
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
31 December 2023 | 31 December 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 4 |
|
|
||
Tangible Assets | 5 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 6 |
|
|
||
Debtors | 7 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 8 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 9 |
|
|
||
Share premium account |
|
|
|||
Profit and Loss Account |
( |
( |
|||
SHAREHOLDERS' FUNDS | 318,869 | 594,901 | |||
Every Run Counts Ltd
Balance Sheet (continued)
As At
31 December 2023
On behalf of the board
Director
|
|
The notes on pages 3 to 5 form part of these financial statements.
Every Run Counts Ltd
Notes to the Financial Statements
For The Year Ended 31 December 2023
Notes to the Financial Statements
1.
General Information
Every Run Counts Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
13721428
. The registered office is 203 London Road, Hadleigh, Essex, SS7 2RD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Going Concern Disclosure
The company had net liabilities at the year-end. However, through the continued support of the shareholders, the going concern basis remains appropriate.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4.
Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to £nil on a straight line basis over their expected useful economic lives, currently 5 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.5.
Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are comprised of Trademarks. They are amortised to the profit and loss account over their estimated economic life of 10 years.
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings |
|
Computer Equipment |
|
2.7.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2022: 4)
Every Run Counts Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2023
4.
Intangible Assets
Development Costs | Intellectual Property | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 1 January 2023 |
|
|
|
Additions |
|
|
|
As at 31 December 2023 |
|
|
|
Amortisation | |||
As at 1 January 2023 |
|
|
|
Provided during the period |
|
|
|
As at 31 December 2023 |
|
|
|
Net Book Value | |||
As at 31 December 2023 |
|
|
|
As at 1 January 2023 |
|
|
|
5.
Tangible Assets
Fixtures & Fittings | Computer Equipment | Total | |
---|---|---|---|
£ | £ | £ | |
Cost | |||
As at 1 January 2023 |
|
|
|
Additions |
|
|
|
As at 31 December 2023 |
|
|
|
Depreciation | |||
As at 1 January 2023 |
|
|
|
Provided during the period |
|
|
|
As at 31 December 2023 |
|
|
|
Net Book Value | |||
As at 31 December 2023 |
|
|
|
As at 1 January 2023 |
|
|
|
6.
Stocks
31 December 2023 | 31 December 2022 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
Every Run Counts Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2023
7.
Debtors
31 December 2023 | 31 December 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Prepayments and accrued income |
|
|
|
VAT |
|
|
|
|
|
||
8.
Creditors: Amounts Falling Due Within One Year
31 December 2023 | 31 December 2022 | ||
---|---|---|---|
£ | £ | ||
Other taxes and social security |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
|
|
|
|
|
||