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REGISTERED NUMBER: 03878953 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

ALAN REED LIMITED

ALAN REED LIMITED (REGISTERED NUMBER: 03878953)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

ALAN REED LIMITED

Company Information
for the Year Ended 31 March 2023







Directors: A Reed
M A Reed





Secretary: S A T Bulmer





Registered office: Units 1 & 2
Furnace Industrial Estate
Shildon
Co. Durham
DL4 1QB





Registered number: 03878953 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Abridged Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 1,202,770 1,207,629
1,202,770 1,207,629

Current assets
Stocks 7,250 12,250
Debtors 432,133 371,076
Cash at bank and in hand 57,711 25,502
497,094 408,828
Creditors
Amounts falling due within one year 683,454 701,490
Net current liabilities (186,360 ) (292,662 )
Total assets less current liabilities 1,016,410 914,967

Creditors
Amounts falling due after more than one
year

(750,017

)

(789,332

)

Provisions for liabilities (109,478 ) (77,373 )
Net assets 156,915 48,262

Capital and reserves
Called up share capital 46,300 46,300
Retained earnings 110,615 1,962
Shareholders' funds 156,915 48,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 September 2023 and were signed on its behalf by:





M A Reed - Director


ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Alan Reed 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 (£).


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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, is being amortised evenly over its estimated useful life of twenty years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Improvements to property - 2% on cost
Plant and machinery - 5% on reducing balance and 5% on cost
Office equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance

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.


ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 34 (2022 - 30 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 140,000
AMORTISATION
At 1 April 2022
and 31 March 2023 140,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 1,669,102
Additions 35,094
Disposals (16,600 )
At 31 March 2023 1,687,596
DEPRECIATION
At 1 April 2022 461,473
Charge for year 28,068
Eliminated on disposal (4,715 )
At 31 March 2023 484,826
NET BOOK VALUE
At 31 March 2023 1,202,770
At 31 March 2022 1,207,629

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2022 96,059
Additions 23,216
Disposals (16,600 )
At 31 March 2023 102,675
DEPRECIATION
At 1 April 2022 23,322
Charge for year 5,678
Eliminated on disposal (4,715 )
At 31 March 2023 24,285
NET BOOK VALUE
At 31 March 2023 78,390
At 31 March 2022 72,737

ALAN REED LIMITED (REGISTERED NUMBER: 03878953)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank overdraft - 69,061
Bank loans 621,603 650,776
Hire purchase contracts 68,888 72,626
690,491 792,463

The loans are secured on the assets which they relate. Bank facilities are secured by a fixed and floating charge dated 28 September 2018.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
M A Reed and A Reed
Balance outstanding at start of year 100,986 106,094
Amounts advanced 40,447 100,986
Amounts repaid (100,986 ) (106,094 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 40,447 100,986

The balances are charged at an interest rate of 2% per annum and are repayable upon demand.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Alan Reed Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alan Reed Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Alan Reed Limited, as a body, in accordance with the terms of our engagement letter dated 14 August 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Alan Reed Limited and state those matters that we have agreed to state to the Board of Directors of Alan Reed 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/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alan Reed 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 Alan Reed Limited. You consider that Alan Reed 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 financial statements of Alan Reed 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 financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


7 September 2023