Realedge Associates Limited
Realedge Associates Limited
Registered number: 07119449
Unaudited Financial Statements
For The Year Ended 31 January 2017
Paul Monaghan Chartered Accountant
ICAEW
18 Hartshill Close
Uxbridge
Middlesex
UB10 9LH
Realedge Associates Limited
Unaudited Financial Statements
For The Year Ended 31 January 2017
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Statement of Changes in Equity | 3 |
| Notes to the Financial Statements | 4—7 |
Realedge Associates Limited
Balance Sheet
As at
31 January 2017
Balance Sheet
Registered number:
07119449
For the year ending 31 January 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2017 | 2016 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and loss account |
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| SHAREHOLDERS' FUNDS | 71,730 | 47,491 | |||
Page 1
Realedge Associates Limited
Balance Sheet (continued)
As at
31 January 2017
Directors' responsibilities:
-
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 Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account
On behalf of the board
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The notes on pages 4 to 7 form part of these financial statements.
Page 2
Realedge Associates Limited
Statement of Changes in Equity
For The Year Ended 31 January 2017
Statement of Changes in Equity
| Share Capital | Profit & Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 February 2015 |
|
|
40,799 |
| Profit for the year and total comprehensive income | - |
|
91,192 |
| Dividends paid | - | (84,500) | (84,500) |
| As at 31 January 2016 and 1 February 2016 |
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47,491 |
| Profit for the year and total comprehensive income | - |
|
109,739 |
| Dividends paid | - | (85,500) | (85,500) |
| As at |
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71,730 |
Page 3
Realedge Associates Limited
Notes to the Unaudited Accounts
For The Year Ended 31 January 2017
Notes to the Unaudited Accounts
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Consultancy income represents revenue earned during the year, based on work done for and accepted by clients, excluding VAT. Income from software licencing where the licence is accepted and agreed by the customer, is recognised over the period of the software licence granted and excludes VAT.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
| Computer Equipment |
|
1.4.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average number of employees
Average number of employees, including directors, during the year was as follows:
6.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| Cost | |
| As at |
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| As at |
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| Depreciation | |
| As at |
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| Provided during the period |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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Page 4
Realedge Associates Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 January 2017
7.
Debtors
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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| Directors' loan accounts | 8,422 | 29,257 | |
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8.
Creditors: Amounts Falling Due Within One Year
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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Page 5
Realedge Associates Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 January 2017
10.
Transactions With and Loans to Directors
Included within Debtors are the following loans to directors:
| As at |
Amounts advanced | Amounts repaid | As at |
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|---|---|---|---|---|
| £ | £ | £ | £ | |
| Mr Ajay Rathor |
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| Mr John Shawe-Taylor |
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On 1 December 2015, a shareholder’s resolution approved a loan facility to the Director, Mr Ajay Rathor of up to £100,000, with interest being charged at the published HMRC interest rate, calculated daily.
At 31 January 2017, a balance of £ 8,422 (2016: £29,257) was owed by Mr Rathor to the Company. The maximum amount outstanding in the year was £69,289.
During the year to 31 January 2017, Mr Rathor was charged interest to his loan account of £1,325 (2015: £111l).
Dividends paid to directors
| 2017 | 2016 | |
|---|---|---|
| £ | £ | |
| Mr Ajay Rathor | 94,500 | 84,500 |
11.
Dividends
| 2017 | 2016 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 85,500 | 84,500 | ||
12.
Related Party Transactions
Ajay Rathor
The Company's director, Mr Ajay Rathor is the sole owner of Harptec Limited, a company registered is India.
Harptec Limited is a supplier of IT services and is based in India. In the year, software development services to the value of £53,800 were purchased by Realedge Associates Limited from Harptec Limited. The purchases were made on an arms-length, open market value basis.
13.
Ultimate Controlling Party
The company is controlled by the director, Ajay Rathor.
Page 6
Realedge Associates Limited
Notes to the Unaudited Accounts (continued)
For The Year Ended 31 January 2017
14.
General Information
Realedge Associates Limited Registered number 07119449 is a limited by shares company incorporated in England & Wales. The Registered Office is 2 Woodberry Grove, London, N12 0DR..
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