Registered number
09828485
REY DIRECT LTD
Filleted Accounts
31 October 2023
REY DIRECT LTD
Registered number: 09828485
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,439 56,809
Current assets
Debtors 4 48,796 16,240
Cash at bank and in hand 12,608 21,094
61,404 37,334
Creditors: amounts falling due within one year 5 (46,208) (17,879)
Net current assets 15,196 19,455
Total assets less current liabilities 58,635 76,264
Creditors: amounts falling due after more than one year 6 (49,967) (69,338)
Net assets 8,668 6,926
Capital and reserves
Called up share capital 2 2
Profit and loss account 8,666 6,924
Shareholders' funds 8,668 6,926
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Noman Hussain
Director
Approved by the board on 16 November 2023
REY DIRECT LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 25% of Net book value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 78,868
Additions 1,927
At 31 October 2023 80,795
Depreciation
At 1 November 2022 22,059
Charge for the year 15,297
At 31 October 2023 37,356
Net book value
At 31 October 2023 43,439
At 31 October 2022 56,809
4 Debtors 2023 2022
£ £
Trade debtors 40,000 16,240
Other debtors 8,796 -
48,796 16,240
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,736 11,222
Net Wages Due 2,988 5,706
Other creditors 32,484 951
46,208 17,879
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 49,967 69,338
7 Controlling party
The directors hold the controlling interest equally.
8 Other information
REY DIRECT LTD is a private company limited by shares and incorporated in England. Its registered office is:
Level 17 Dashwood House
69 Old Broad Street
London
England
EC2M 1QS
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