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REGISTERED NUMBER: 06115400 (England and Wales)















REYNOLDS TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023






REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REYNOLDS TRADING LIMITED

COMPANY INFORMATION
For The Year Ended 28 FEBRUARY 2023







DIRECTOR: S J Reynolds





SECRETARY: Mrs N E Reynolds





REGISTERED OFFICE: Willowbrook Garden Centre
Stourbridge Road
Catshill
Bromsgrove
Worcestershire
B61 0BL





REGISTERED NUMBER: 06115400 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 798,498 828,590
Investment property 6 250,000 250,000
1,048,498 1,078,590

CURRENT ASSETS
Stocks 273,251 279,400
Debtors 7 6,736 12,769
Cash at bank and in hand 185,238 148,095
465,225 440,264
CREDITORS
Amounts falling due within one year 8 392,076 486,975
NET CURRENT ASSETS/(LIABILITIES) 73,149 (46,711 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,121,647

1,031,879

CREDITORS
Amounts falling due after more than one year 9 - (40,000 )

PROVISIONS FOR LIABILITIES (68,436 ) (71,597 )
NET ASSETS 1,053,211 920,282

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 101,970 95,441
Retained earnings 951,141 824,741
SHAREHOLDERS' FUNDS 1,053,211 920,282

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

BALANCE SHEET - continued
28 FEBRUARY 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 director and authorised for issue on 26 October 2023 and were signed by:





S J Reynolds - Director


REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Reynolds Trading 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill is the difference between amounts paid on the aquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is being amortised on a straight line basis over 10 years to write off the cost of the intangible fixed asset over the expected useful economic life which has been set with reference to the expected life of the customer base acquired.

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.
Freehold prop - 2% on cost
Plant & Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 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.

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 28 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 64,377
AMORTISATION
At 1 March 2022
and 28 February 2023 64,377
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant &
prop Property Equipment
£    £    £   
COST
At 1 March 2022 715,103 - 685,642
Additions - - 100,130
Disposals - - (14,507 )
Reclassification/transfer (186,222 ) 186,222 -
At 28 February 2023 528,881 186,222 771,265
DEPRECIATION
At 1 March 2022 145,513 - 477,112
Charge for year 10,577 37,244 69,410
Eliminated on disposal - - (11,976 )
Reclassification/transfer (23,892 ) 23,892 -
At 28 February 2023 132,198 61,136 534,546
NET BOOK VALUE
At 28 February 2023 396,683 125,086 236,719
At 28 February 2022 569,590 - 208,530

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2022 70,685 17,727 1,489,157
Additions - 4,202 104,332
Disposals - - (14,507 )
Reclassification/transfer - - -
At 28 February 2023 70,685 21,929 1,578,982
DEPRECIATION
At 1 March 2022 26,238 11,704 660,567
Charge for year 11,112 3,550 131,893
Eliminated on disposal - - (11,976 )
Reclassification/transfer - - -
At 28 February 2023 37,350 15,254 780,484
NET BOOK VALUE
At 28 February 2023 33,335 6,675 798,498
At 28 February 2022 44,447 6,023 828,590

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 250,000
NET BOOK VALUE
At 28 February 2023 250,000
At 28 February 2022 250,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2015 42,828
Valuation in 2019 75,000
Cost 132,172
250,000

If investment property had not been revalued it would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 132,172 132,172
Aggregate depreciation (34,365 ) -

Investment property was valued on a fair value basis on 28 February 2023 by S J Reynolds, director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 3,484 3,661
Other debtors 3,252 9,108
6,736 12,769

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors 309,764 434,315
Taxation and social security 73,702 45,248
Other creditors 8,610 7,412
392,076 486,975

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Other creditors - 40,000

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 FEBRUARY 2023


10. RESERVES
Fair
value
reserve
£   
At 1 March 2022 95,441
Movement for year 6,529

At 28 February 2023 101,970

11. ULTIMATE CONTROLLING PARTY

The controlling party is S J Reynolds.