Registered number
11158988
Ready Money Capital Limited
Unaudited Filleted Accounts
31 January 2021
Ready Money Capital Limited
Registered number: 11158988
Balance Sheet
as at 31 January 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 19,718 -
Tangible assets 4 20,879 15,654
40,597 15,654
Current assets
Debtors 5 4,515 101
Cash at bank and in hand 25,094 58,128
29,609 58,229
Creditors: amounts falling due within one year 6 (11,550) (45,617)
Net current assets 18,059 12,612
Total assets less current liabilities 58,656 28,266
Creditors: amounts falling due after more than one year 7 (46,667) -
Provisions for liabilities (3,967) (2,975)
Net assets 8,022 25,291
Capital and reserves
Called up share capital 101 101
Profit and loss account 7,921 25,190
Shareholders' funds 8,022 25,291
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S.P. Smale
Director
Approved by the board on 1 March 2021
Ready Money Capital Limited
Notes to the Accounts
for the year ended 31 January 2021
1 Accounting policies
Going concern
The company has been materially and adversely affected by the effects of the Covid-19 pandemic. Demand for the companies services has been reduced due the effect of the pandemic and national lockdown restrictions. Operating results have also been adversely affected.

The company has incurred operating losses of £15,966 in the year to 31 January 2021 (2020: operating profit £109,333).

Due to the rapid and ongoing nature of the pandemic, the director is uncertain when the company will return to profitability and positive cashflows from operations. The company has secured additional borrowings to provide working capital requirements. On this basis the director believes the use of the going concern accounting convention is appropriate.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Government grants
Government grants for revenue projects are taken to the Profit & Loss account when received.

Government grants for capital projects are transferred to deferred income and released to the Profit & Loss account over the life of the capital asset to which they relate.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. They are amortised over their expected useful life of five years.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Domain names
Cost
Additions 24,648
At 31 January 2021 24,648
Amortisation
Provided during the year 4,930
At 31 January 2021 4,930
Net book value
At 31 January 2021 19,718
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 February 2020 22,115
Additions 12,185
At 31 January 2021 34,300
Depreciation
At 1 February 2020 6,461
Charge for the year 6,960
At 31 January 2021 13,421
Net book value
At 31 January 2021 20,879
At 31 January 2020 15,654
5 Debtors 2021 2020
£ £
Other debtors 4,515 101
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 3,333 -
Trade creditors 2,402 1,409
Taxation and social security costs 2,870 18,478
Other creditors 2,945 25,730
11,550 45,617
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 46,667 -
8 Controlling party
The company is controlled by S.P. Smale, its director and majority shareholder.
9 Other information
Ready Money Capital Limited is a private company limited by shares and incorporated in England. Its registered office is:
Woodwater House
Pynes Lane
Exeter
Devon
EX2 5WR
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