REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
FOR |
REECE DRYWALL LTD |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
FOR |
REECE DRYWALL LTD |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Abridged Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
REECE DRYWALL LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1st Floor |
49 High Street |
Hucknall |
Nottinghamshire |
NG15 7AW |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
REPORT OF THE DIRECTORS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
The directors present their report with the financial statements of the company for the period 1st October 2022 to 31st January 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st October 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
ABRIDGED BALANCE SHEET |
31ST JANUARY 2024 |
2024 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
ABRIDGED BALANCE SHEET - continued |
31ST JANUARY 2024 |
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 |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
1. | STATUTORY INFORMATION |
Reece Drywall Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock is valued at the lower of cost and net realisable value, less costs to sell. This includes all purchase, transport and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the period 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 period 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 the profit & loss account on a straight line basis over the period of the lease. |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Amounts recoverable on contracts |
Where the outcome of a contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. The company uses the "percentage of completion method" to determine the appropriate amount to recognise in a given period. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be based on the estimated proportion of the total contract costs which have been incurred to date. If a contract is expected to be loss-making, a provision is recognised immediately for the entire loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st October 2022 |
Additions |
Disposals | ( |
) |
At 31st January 2024 |
DEPRECIATION |
At 1st October 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31st January 2024 |
NET BOOK VALUE |
At 31st January 2024 |
At 30th September 2022 |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Totals |
£ |
COST |
At 1st October 2022 | 263,097 |
Additions | 177,191 |
Disposals | (17,078 | ) |
At 31st January 2024 | 423,210 |
DEPRECIATION |
At 1st October 2022 | 73,180 |
Charge for period | 64,952 |
Eliminated on disposal | (10,628 | ) |
At 31st January 2024 | 127,504 |
NET BOOK VALUE |
At 31st January 2024 | 295,706 |
At 30th September 2022 | 189,917 |
5. | LEASING AGREEMENTS |
Total commitments under non cancellable operating leases at the balance sheet date is £4,232 (2022: £15,517) |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 31st January 2024 and the year ended 30th September 2022: |
2024 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Balance outstanding at start of period |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The directors had borrowed money from the company on an interest free basis. The balance outstanding was repayable upon demand. |
REECE DRYWALL LTD (REGISTERED NUMBER: 09156999) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1ST OCTOBER 2022 TO 31ST JANUARY 2024 |
7. | RELATED PARTY DISCLOSURES |
During the year the company lent money to a connected company, of which the directors holds a participating interest. The loan is on an interest free basis, with the balance outstanding being repayable upon demand. The balance outstanding at the year end date was £39,651 (2022: £676) |