Company Registration No. 09548906 (England and Wales)
Relish Technologies Limited
Unaudited accounts
for the year ended 30 April 2020
Relish Technologies Limited
Unaudited accounts
Contents
Relish Technologies Limited
Company Information
for the year ended 30 April 2020
Directors
Mark John Jenner
Thomas David Mulhall Putnam
Company Number
09548906 (England and Wales)
Registered Office
B101 Biscuit Factory
100 Drummond Road
London
SE16 4DG
England
Relish Technologies Limited
Statement of financial position
as at
30 April 2020
Tangible assets
3,046
1,392
Inventories
263,033
342,800
Cash at bank and in hand
387,192
838,694
Creditors: amounts falling due within one year
(169,678)
(1,195,726)
Net current assets
550,449
51,194
Net assets
553,495
52,586
Called up share capital
183
182
Share premium
1,201,002
1,164,430
Profit and loss account
(647,690)
(1,112,026)
Shareholders' funds
553,495
52,586
For the year ending 30 April 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2020 and were signed on its behalf by
Mark John Jenner
Director
Company Registration No. 09548906
Relish Technologies Limited
Notes to the Accounts
for the year ended 30 April 2020
Relish Technologies Limited is a private company, limited by shares, registered in England and Wales, registration number 09548906. The registered office is B101 Biscuit Factory, 100 Drummond Road, London, SE16 4DG, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Computer equipment
33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Research and development tax credit
During the financial year, Relish Technologies Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. T
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Relish Technologies Limited
Notes to the Accounts
for the year ended 30 April 2020
The company operates an EMI qualifying share option scheme for employees. As at the date of the Statement of Financial Position, the company had granted 10,198 EMI qualifying share options with an exercise price of £1 per share out of a total authorised of 10,808. As at the year end 5,825 share options vested of which 2,177 have been exercised. Share options vest over 4 years from the date of grant. The share options are exercisable on the share capital of the company.
The share options are exercisable on the share capital of the company.
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 May 2019
703
1,331
2,034
Additions
458
2,717
3,175
At 30 April 2020
1,161
4,048
5,209
Charge for the year
323
1,198
1,521
At 30 April 2020
420
1,743
2,163
At 30 April 2020
741
2,305
3,046
At 30 April 2019
606
786
1,392
Finished goods
263,033
342,800
Trade debtors
43,508
21,503
Accrued income and prepayments
11,895
-
Other debtors
14,499
43,923
Relish Technologies Limited
Notes to the Accounts
for the year ended 30 April 2020
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Creditors: amounts falling due within one year
2020
2019
Trade creditors
58,404
104,114
Taxes and social security
31,021
79,333
Other creditors
67,327
85,059
Loans from directors
12,926
13,096
Deferred income
-
914,124
Included within Creditors is a Director Loan balances outstanding of £12,926 (2019: £13,096). This balance includes £2,656 owed to T Putnam (2019: £2,656) and £10,270 owed to M Jenner (2019: £10,440).
There was an unsecured convertible loan from BlueSky HoldcoII Ltd of £50,000 and TUSPARK (Newcastle) Limited of £5,000. Each bears 8% fixed rate interest.
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Share capital
2020
2019
Allotted, called up and fully paid:
120,130 Ordinary shares of £0.0015 each
183.19
182.04
Shares issued during the period:
753 Ordinary shares of £0.0015 each
1.14
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Operating lease commitments
2020
2019
At 30 April 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
2,814
3,029
Within two to five years
1,449
3,439
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Average number of employees
During the year the average number of employees was 13 (2019: 7).