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Registration number: 11732983

Reads Gifts and Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Reads Gifts and Services Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

4

 

Reads Gifts and Services Limited

Company Information

Directors

Mr Gary Read

Lisa Read

Registered office

16-18 The Boscombe Centre
Mills Way
Amesbury
Wiltshire
SP4 7SD

 

Reads Gifts and Services Limited

Directors' Report for the Year Ended 31 December 2021

The directors present their report and the financial statements for the year ended 31 December 2021.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Directors of the company

The directors who held office during the year were as follows:

Mr Gary Read

Lisa Read (appointed 1 September 2021)

Going concern

During the first quarter of the year the company was impacted heavily by the Covid-19 Pandemic as a result of local and national lockdown's and trade restrictions meaning the retail premises were closed for a considerable period.
The company however was able to secure funding via the Coronavirus bounce back loan scheme in the previous year that meant it was able to meet it's liabilities as they fell due.
The directors consider the company will be able to meet it's liabilities as they fall due over the next 12 months.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 6 September 2022 and signed on its behalf by:
 

.........................................
Mr Gary Read
Director

.........................................
Lisa Read
Director

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Reads Gifts and Services Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reads Gifts and Services Limited for the year ended 31 December 2021 as set out on pages 4 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Reads Gifts and Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Reads Gifts and Services Limited and state those matters that we have agreed to state to the Board of Directors of Reads Gifts and Services Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reads Gifts and Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reads Gifts and Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Reads Gifts and Services Limited. You consider that Reads Gifts and Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Reads Gifts and Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Howdenwhite LLP
Chartered Certified Accountants
Units 16-18, The Boscombe Centre
Mills Way
Amesbury
Salisbury
Wiltshire
SP4 7SD

6 September 2022

 

Reads Gifts and Services Limited

(Registration number: 11732983)
Balance Sheet as at 31 December 2021

2021
£

2020
£

Fixed assets

23,994

33,057

Current assets

29,414

28,558

Prepayments and accrued income

6,223

7,540

Creditors: Amounts falling due within one year

(26,328)

(25,198)

Net current assets

9,309

10,900

Total assets less current liabilities

33,303

43,957

Creditors: Amounts falling due after more than one year

(31,813)

(42,111)

Accruals and deferred income

(1,448)

(1,823)

 

42

23

Capital and reserves

42

23

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
16-18 The Boscombe Centre
Mills Way
Amesbury
Wiltshire
SP4 7SD

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 1).

 

Reads Gifts and Services Limited

(Registration number: 11732983)
Balance Sheet as at 31 December 2021

3

Related party transactions

Transactions with directors

2021

At 1 January 2021
£

Advances to director
£

At 31 December 2021
£

Director 1

-

3,577

3,577

Director 2

-

2,037

2,037

 

-

5,614

5,614

     

 

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 6 September 2022 and signed on its behalf by:
 

.........................................
Mr Gary Read
Director

.........................................
Lisa Read
Director