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REGISTERED NUMBER: 03243815 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

FOR

REALITY LIMITED

REALITY LIMITED (REGISTERED NUMBER: 03243815)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REALITY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: Mr P S Corrick
Ms A F Lindars





SECRETARY: Mr P S Corrick





REGISTERED OFFICE: Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN





REGISTERED NUMBER: 03243815 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

REALITY LIMITED (REGISTERED NUMBER: 03243815)

BALANCE SHEET
31ST MARCH 2023

31.3.23 31.3.22
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,600 1,401

CURRENT ASSETS
Debtors 5 137,162 13,373
Cash at bank and in hand 438 254,012
137,600 267,385
CREDITORS
Amounts falling due within one year 6 40,551 178,469
NET CURRENT ASSETS 97,049 88,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,649

90,317

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 98,649 89,317
SHAREHOLDERS' FUNDS 99,649 90,317

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

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

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 18th October 2023 and were signed on its behalf by:




Mr P S Corrick - Director



Ms A F Lindars - Director


REALITY LIMITED (REGISTERED NUMBER: 03243815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Reality 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1st April 2022 1,919 27,682 29,601
Additions 155 2,503 2,658
At 31st March 2023 2,074 30,185 32,259
DEPRECIATION
At 1st April 2022 1,919 26,281 28,200
Charge for year 39 1,420 1,459
At 31st March 2023 1,958 27,701 29,659
NET BOOK VALUE
At 31st March 2023 116 2,484 2,600
At 31st March 2022 - 1,401 1,401

REALITY LIMITED (REGISTERED NUMBER: 03243815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade debtors 17,341 -
Other debtors - 1,000
Directors' current accounts 99,299 -
Social security and other tax 422 16
Tax recoverable 2,472 2,472
VAT - 5,685
Prepayments and accrued income 17,628 4,200
137,162 13,373

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£ £
Trade creditors 1 994
Tax 30,793 73,646
Net wages control 2,772 -
VAT 2,152 -
Other creditors 194 -
Company barclay card 1,389 7,377
Directors' current accounts - 93,202
Accruals and deferred income 3,250 3,250
40,551 178,469

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.3.23 31.3.22
£ £
Mr P S Corrick
Balance outstanding at start of year (93,202 ) (64,414 )
Amounts advanced 264,868 17,043
Amounts repaid (72,367 ) (45,831 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 99,299 (93,202 )

The directors loan balance of £99,299 was repaid in full on 21 April 2023.

8. ULTIMATE CONTROLLING PARTY

Mr P Corrick and Ms A Lindars control the company by virtue of their 100% combined shareholding.