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REGISTERED NUMBER: 08857439 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ANGEL REMY LTD

ANGEL REMY LTD (REGISTERED NUMBER: 08857439)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


ANGEL REMY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr S D Morrison
Mrs D C Morrison





REGISTERED OFFICE: Red Mill Trading Estate
Block B - Unit 13
Rigby Street
Wednesbury
WS10 0NP





REGISTERED NUMBER: 08857439 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

ANGEL REMY LTD (REGISTERED NUMBER: 08857439)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 896 637

CURRENT ASSETS
Stocks 2,444,590 2,085,932
Debtors 5 44,435 78,407
Cash at bank 11,807 69,914
2,500,832 2,234,253
CREDITORS
Amounts falling due within one year 6 1,493,073 1,166,039
NET CURRENT ASSETS 1,007,759 1,068,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,008,655

1,068,851

PROVISIONS FOR LIABILITIES 170 121
NET ASSETS 1,008,485 1,068,730

CAPITAL AND RESERVES
Called up share capital 2 2
Capital redemption reserve 1 1
Retained earnings 1,008,482 1,068,727
SHAREHOLDERS' FUNDS 1,008,485 1,068,730

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.

ANGEL REMY LTD (REGISTERED NUMBER: 08857439)

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.

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 October 2023 and were signed on its behalf by:





Mrs D C Morrison - Director


ANGEL REMY LTD (REGISTERED NUMBER: 08857439)

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

1. STATUTORY INFORMATION

Angel Remy Ltd 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 - 50% on reducing balance
Computer equipment - 33% on cost

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.

ANGEL REMY LTD (REGISTERED NUMBER: 08857439)

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

2. ACCOUNTING POLICIES - continued

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
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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 989 3,599 4,588
Additions 500 358 858
At 31 March 2023 1,489 3,957 5,446
DEPRECIATION
At 1 April 2022 865 3,086 3,951
Charge for year 312 287 599
At 31 March 2023 1,177 3,373 4,550
NET BOOK VALUE
At 31 March 2023 312 584 896
At 31 March 2022 124 513 637

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 19,304 44,822
Other debtors 25,131 33,585
44,435 78,407

ANGEL REMY LTD (REGISTERED NUMBER: 08857439)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 1,226,238 818,228
Taxation and social security 259,835 342,513
Other creditors 7,000 5,298
1,493,073 1,166,039

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 26,600 25,697
Between one and five years 74,040 17,131
100,640 42,828

8. 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
£    £   
Mrs D C Morrison and Mr S D Morrison
Balance outstanding at start of year 31,574 34,131
Amounts advanced 180,285 77,443
Amounts repaid (189,045 ) (80,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,814 31,574