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REGISTERED NUMBER: 04709180 (England and Wales)













REES WOOD TERRY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


REES WOOD TERRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A P M Hickey
Mr M L Hood
Mr D G Williams





SECRETARY: Mr M L Hood





REGISTERED OFFICE: 9 St. Andrews Crescent
Cardiff
CF10 3DG





REGISTERED NUMBER: 04709180 (England and Wales)





ACCOUNTANTS: Carston Chartered Accountants
Tudor House
16 Cathedral Road
Cardiff
CF11 9LJ

REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 360,000 400,000
Tangible assets 5 12,454 20,674
372,454 420,674

CURRENT ASSETS
Stocks 152,857 134,765
Debtors 6 55,895 96,749
Cash at bank and in hand 157,762 190,866
366,514 422,380
CREDITORS
Amounts falling due within one year 7 325,142 489,436
NET CURRENT ASSETS/(LIABILITIES) 41,372 (67,056 )
TOTAL ASSETS LESS CURRENT LIABILITIES 413,826 353,618

CREDITORS
Amounts falling due after more than one year 8 100,000 100,000
NET ASSETS 313,826 253,618

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 313,726 253,518
SHAREHOLDERS' FUNDS 313,826 253,618

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.

REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:




Mr M L Hood - Director A P M Hickey - Director




Mr D G Williams - Director


REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

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


1. STATUTORY INFORMATION

Rees Wood Terry 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

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.
Long leasehold - 10% straight line on cost
Office equipment - 20% straight line on cost
Fixtures and fittings - 20% straight line on cost
Computer equipment - 25% straight line on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

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


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2022
and 31 March 2023 500,000
AMORTISATION
At 1 April 2022 100,000
Amortisation for year 40,000
At 31 March 2023 140,000
NET BOOK VALUE
At 31 March 2023 360,000
At 31 March 2022 400,000

5. TANGIBLE FIXED ASSETS
Fixtures
Long Office and Computer
leasehold equipment fittings equipment Totals
£ £ £ £ £
COST
At 1 April 2022
and 31 March 2023 5,300 8,750 3,380 21,904 39,334
DEPRECIATION
At 1 April 2022 2,120 7,000 2,704 6,836 18,660
Charge for year 530 1,750 676 5,264 8,220
At 31 March 2023 2,650 8,750 3,380 12,100 26,880
NET BOOK VALUE
At 31 March 2023 2,650 - - 9,804 12,454
At 31 March 2022 3,180 1,750 676 15,068 20,674

REES WOOD TERRY LIMITED (REGISTERED NUMBER: 04709180)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 39,250 78,579
Other debtors 16,645 18,170
55,895 96,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Taxation and social security 59,794 75,656
Other creditors 265,348 413,780
325,142 489,436

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other creditors 100,000 100,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100