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Registered Number: 05284167
England

 

 

 

REM ASSOCIATES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 December 2021

End date: 30 November 2022
Accountants' report on the unaudited financial statements to the directors of REM ASSOCIATES LIMITED.

In accordance with our terms of engagement and in order to assist you to fulfill your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 30 November 2022 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement.  Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matter that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

You have acknowledged on the Balance Sheet as at year ended 30 November 2022 your duty to ensure that the company has kept the correct accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006.  You consider that the company is exempt form statutory requirement for an audit for the period.

We have not been instructed to carry out and audit of the financial statements. 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 financial statements.



....................................................
Stonebridge Accountants
19a Chorley Old Road

Bolton
BL1 3AD
23 November 2023
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Tangible fixed assets 3 568    2,622 
568    2,622 
Current assets      
Debtors 29,500    29,500 
Cash at bank and in hand 6,413    15,289 
35,913    44,789 
Creditors: amount falling due within one year (7,398)   (7,736)
Net current assets 28,515    37,053 
 
Total assets less current liabilities 29,083    39,675 
Creditors: amount falling due after more than one year (39,691)   (49,166)
Provisions for liabilities (2,231)   (115)
Net liabilities (12,839)   (9,606)
 

Capital and reserves
     
Called up share capital 4 2    2 
Profit and loss account (12,841)   (9,608)
Shareholder's funds (12,839)   (9,606)
 


For the year ended 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 November 2023 and were signed by:


-------------------------------
Mrs Najima Nasim Nasim
Director
2
General Information
REM ASSOCIATES LIMITED is a private company, limited by shares, registered in England, registration number 05284167, registration address 19 Chorley Old Road, Bolton, BL1 3AD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 1 (2021 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 December 2021 36,587    9,580    46,167 
Additions    
Disposals    
At 30 November 2022 36,587    9,580    46,167 
Depreciation
At 01 December 2021 33,965    9,580    43,545 
Charge for year 2,054      2,054 
On disposals    
At 30 November 2022 36,019    9,580    45,599 
Net book values
Closing balance as at 30 November 2022 568      568 
Opening balance as at 01 December 2021 2,622      2,622 


4.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
2 Class A shares of £1.00 each  
 

3