Ravensbeck Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02037240 (England and Wales)

RAVENSBECK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

David Hulbert

Registered office:

42 West Hill Park

London

N6 6ND

Registered number:

02037240 (England and Wales)

Current assets

Debtors

5

627,591

329,085

Cash at bank

94,428

72,855

722,019

401,940

Creditors

Amounts falling due within one year

6

273,466

46,247

Net current assets

448,553

355,693

Total assets less current liabilities

448,553

355,693

Capital and reserves

Called up share capital

7

132,000

132,000

Capital redemption reserve

8

25,000

25,000

Other reserves

8

(361,943

)

(361,943

)

Retained earnings

8

653,496

560,636

Shareholders' funds

448,553

355,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 30 April 2018 and were signed by:

David Hulbert - Director

1.	Statutory information

Ravensbeck 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.

2.	Accounting policies

Compliance with accounting standards

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

Set out below is a summary of the principal accounting policies, all of which have been applied consistently

(except as otherwise stated).

Compliance with accounting standards

These financial statements for the year ended 31 December 2017 represent the first financial statements of the

Company following the early adoption of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The

Financial Reporting Standard applicable in the UK and Republic of Ireland'' (''FRS 102'').

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and

assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimated

and assumptions are based on the best and most reliable evidence available at the time when the decisions are

made, and are based on historical experience and other factors that are considered to be applicable. Due to the

inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and

outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or

in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies

The critical judgement that the director has made in the process of applying the Company's accounting policies

that have the most significant effect on the amounts recognised in the statutory financial statements are

discussed below:

(i) Assessing indicators and impairment

In assessing whether there have been any indicators or impairment assets, the directors have considered both

external and internal sources of information such as market conditions, counterparty credit ratings and

experience or recoverability. There have been no indicators or impairments identified during the current financial

year.

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.

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 that have been enacted

or substantively enacted by the balance sheet date.

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the

directors have carefully considered these risks including an assessment on uncertainty on future trading

projection for a period of at least 12 months from the date of signing the financial statements, and the extent to

which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity,

sufficient to meet the demands of the business including any capital and servicing obligations and external debt

liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider

that the Company is not exposed to losses on these assets which would affect their decision to adopt the going

concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in

operational existence for the foreseeable future and that there are no material uncertainties that lead to

significant doubts upon the Company's ability to continue as a going concern. Thus the directors have

continued to adopt the going concern basis of accounting in preparing these financial statements.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at

transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured

at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans that are classified as debt, are

initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade payables 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 payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction

price and subsequently measured at amortised cost using the effective interest method.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances.

(a) Critical judgements in applying the Company's accounting policies

The Company makes a number of assessments which require judgement in preparing the accounts and can

have a significant effect upon the financial statements. However due to the straight forward nature of the

Company's business, management does not believe that there are any judgements that have a significant risk of

causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

(b) Key accounting estimates and assumptions

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will,

by definition, seldom equal the related actual results. However due to the straight forward nature of the

Company's business, management does not believe that there are any estimates and assumptions that have a

significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next

financial year.

3.	Employees and directors

The average number of employees during the year was 4 (2016 - 4 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2017

and 31 December 2017

10,347

Depreciation

At 1 January 2017

and 31 December 2017

10,347

Net book value

At 31 December 2017

-

5.

Debtors: amounts falling due within one year

2017

2016

£

£

Trade debtors

151,726

69,116

Bad Debt Provision

(69,116

)

(69,116

)

Other Debtors

271,258

205,967

Directors' loan accounts

114,092

-

VAT

40,131

3,618

Called up share capital not paid

119,500

119,500

627,591

329,085

6.

Creditors: amounts falling due within one year

2017

2016

£

£

Bank loans and overdrafts

114

-

Trade creditors

112,271

2,354

Tax

33,675

37,398

Social security and other taxes

3,793

3,827

Directors' loan accounts

-

2,668

Accrued expenses

123,613

-

273,466

46,247

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

132,000

Ordinary shares

£1

132,000

132,000

8.

Reserves

Capital

Retained

redemption

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 January 2017

560,636

25,000

(361,943

)

223,693

Profit for the year

126,890

126,890

Dividends

(34,030

)

(34,030

)

At 31 December 2017

653,496

25,000

(361,943

)

316,553

9.	Ultimate controlling party

The controlling party is David Hulbert.