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Company registration number:
03877884
Reiter UK Limited
Unaudited Filleted Financial Statements for the year ended
30 November 2021
Reiter UK Limited
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Reiter UK Limited
Year ended
30 November 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Reiter UK Limited
for the year ended
30 November 2021
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
Reiter UK Limited
, as a body, in accordance with the terms of my engagement letter dated 1 April 2018. My work has been undertaken solely to prepare for your approval the
financial statements
of
Reiter UK Limited
and state those matters that I have agreed to state to the Board of Directors of
Reiter UK Limited
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Reiter UK Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Reiter UK Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Reiter UK Limited
. You consider that
Reiter UK Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Reiter UK Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Gordon & Co
Chartered Accountants and Business Advisors
25/27 Station Street
Cheslyn Hay
Walsall
West Midlands
WS6 7ED
United Kingdom
Date:
10 June 2022
Reiter UK Limited
Statement of Financial Position
30 November 2021
20212020
Note££
Fixed assets    
Tangible assets 5
399,393
 
45,146
 
Investments 6
13,098
 
13,098
 
412,491
 
58,244
 
Current assets    
Stocks
29,982
 
52,234
 
Debtors 7
319,696
 
278,350
 
Cash at bank and in hand
461,104
 
842,838
 
810,782
 
1,173,422
 
Creditors: amounts falling due within one year 8
(123,183
)
(111,477
)
Net current assets
687,599
 
1,061,945
 
Total assets less current liabilities 1,100,090   1,120,189  
Creditors: amounts falling due after more than one year 9
(8,314
) -  
Net assets
1,091,776
 
1,120,189
 
Capital and reserves    
Called up share capital
90
 
90
 
Other reserves
20
 
20
 
Profit and loss account
1,091,666
 
1,120,079
 
Shareholders funds
1,091,776
 
1,120,189
 
For the year ending
30 November 2021
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
10 June 2022
, and are signed on behalf of the board by:
Ivan Roberts
Director
Company registration number:
03877884
Reiter UK Limited
Notes to the Financial Statements
Year ended
30 November 2021

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 18 Laches Close
,
Four Ashes
,
Wolverhampton
,
West Midlands
,
WV10 7DZ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services supplied, net of discounts and Value Added Tax.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance
Land and buildings
2% straight line or 20% reducing balance
Office equipment
25% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2020:
6.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 December 2020
12,651
 
160,428
 
173,079
 
Additions
351,213
 
33,335
 
384,548
 
Disposals -  
(12,702
)
(12,702
)
At
30 November 2021
363,864
 
181,061
 
544,925
 
Depreciation      
At
1 December 2020
5,058
 
122,875
 
127,933
 
Charge
10,992
 
17,406
 
28,398
 
Disposals -  
(10,799
)
(10,799
)
At
30 November 2021
16,050
 
129,482
 
145,532
 
Carrying amount      
At
30 November 2021
347,814
 
51,579
 
399,393
 
At 30 November 2020
7,593
 
37,553
 
45,146
 

6 Investments

Shares in group undertakings and participating interests
£
Cost  
At
1 December 2020
13,098
 
At
30 November 2021
13,098
 
Impairment  
At
1 December 2020
and
30 November 2021
-  
Carrying amount  
At
30 November 2021
13,098
 
At 30 November 2020
13,098
 

7 Debtors

20212020
££
Trade debtors
282,703
 
254,193
 
Other debtors
36,993
 
24,157
 
319,696
 
278,350
 

8 Creditors: amounts falling due within one year

20212020
££
Trade creditors
73,289
 
62,148
 
Taxation and social security
9,525
 
39,104
 
Other creditors
40,369
 
10,225
 
123,183
 
111,477
 

9 Creditors: amounts falling due after more than one year

20212020
££
Other creditors
8,314
  -