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REGISTERED NUMBER: 10864642 (England and Wales)


















REEMOR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2022






REEMOR LIMITED (REGISTERED NUMBER: 10864642)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


REEMOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JULY 2022







DIRECTORS: M P Morris
Miss R E Rees





REGISTERED OFFICE: 3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG





REGISTERED NUMBER: 10864642 (England and Wales)





ACCOUNTANTS: MHA
Chartered Accountants
3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG

REEMOR LIMITED (REGISTERED NUMBER: 10864642)

BALANCE SHEET
30 JULY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 178,416 178,416

CURRENT ASSETS
Debtors 5 1,200 -
Cash at bank 3,410 16,692
4,610 16,692
CREDITORS
Amounts falling due within one year 6 194,044 193,367
NET CURRENT LIABILITIES (189,434 ) (176,675 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(11,018

)

1,741

CREDITORS
Amounts falling due after more than one
year

7

64,604

70,152
NET LIABILITIES (75,622 ) (68,411 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (75,722 ) (68,511 )
(75,622 ) (68,411 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

REEMOR LIMITED (REGISTERED NUMBER: 10864642)

BALANCE SHEET - continued
30 JULY 2022


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2023 and were signed on its behalf by:





M P Morris - Director


REEMOR LIMITED (REGISTERED NUMBER: 10864642)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2022


1. STATUTORY INFORMATION

Reemor Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Monetary amounts in these financial statements are rounded to the nearest (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.

Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.

Turnover
Turnover represents amounts derived from the rental income which falls within the company's ordinary activities after deduction of value added tax.

Revenue recognition
Revenue relating to rental income is recognised evenly over the period to which it relates.

REEMOR LIMITED (REGISTERED NUMBER: 10864642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2022


2. ACCOUNTING POLICIES - continued

Investment property
Tangible fixed assets include an Investment Property, as defined by the Financial Reporting Standard FRS 102 Section 1A "Small Entities". The Investment Property is not depreciated.

The Investment Property is measured at fair value, with the change recognised in the Income Statement. Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate non-distributable reserve.

Financial instruments
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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.

Going concern
The current economic climate remains uncertain, however, the directors have taken all reasonable and necessary measures to safeguard the company.

The directors have assessed the company's financial position and the directors believe that the company is well placed to manage its business risks successfully, despite the current uncertain economic outlook and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors have adopted the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

REEMOR LIMITED (REGISTERED NUMBER: 10864642)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2022


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 July 2021
and 30 July 2022 178,416
NET BOOK VALUE
At 30 July 2022 178,416
At 30 July 2021 178,416

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 1,200 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 8,578 8,222
Trade creditors 1,440 1,320
Other creditors 184,026 183,825
194,044 193,367

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 64,604 70,152

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 73,182 78,374

The company's bank loans are secured by a Legal Charge dated 2 October 2017 over the company's Freehold premises in favour of National Westminster Bank PLC.

9. RELATED PARTY DISCLOSURES

Included within Other creditors are amounts owing to the directors totalling £94,770 (2021 : £89,570). These amounts are interest free, unsecured and repayable on demand.