REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
REPCHOICE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
FOR |
REPCHOICE LIMITED |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
REPCHOICE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
BALANCE SHEET |
31 MARCH 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | STATUTORY INFORMATION |
Repchoice Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
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. |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
AMORTISATION |
At 1 April 2021 |
and 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
and 31 March 2022 | 62,961 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts |
Accrued expenses |
9. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 1 April 2021 |
Charge for the year | 17,859 |
Balance at 31 March 2022 |
The deferred taxation charge is all in respect of accelerated capital allowances. |
REPCHOICE LIMITED (REGISTERED NUMBER: 01962666) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | CAPITAL COMMITMENTS |
2022 | 2021 |
£ | £ |
Contracted but not provided for in the |
financial statements |
12. | OTHER FINANCIAL COMMITMENTS |
The company is committed to pay ground rent of £3,415 per year in respect of the leasehold property for the duration of the lease or until it re-assigns the lease to another party. At present there is 53 years left on the lease giving a current commitment of £180,995.00 (2021: £184,410.00). |
13. | RELATED PARTY DISCLOSURES |
At the year ended 31 March 2021 the company owed the directors £1,598 (2021: £1,598). Interest is not charged on this balance. |
14. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
15. | ULTIMATE CONTROLLING PARTY |
The company is controlled by its two directors, Mr M Singh and Mrs S Kaur, who own the whole of the company's issued share capital. |