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REGISTERED NUMBER: 09156999 (England and Wales)















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: Mr R C Jackson
Mr R Parkin





REGISTERED OFFICE: 1st Floor, 49 High Street
Hucknall
Nottinghamshire
NG15 7AW





REGISTERED NUMBER: 09156999 (England and Wales)





ACCOUNTANTS: Elkingtons Accountants Limited
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.

Mr R C Jackson
Mr R Parkin

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:





Mr R C Jackson - Director


20th March 2024

REECE DRYWALL LTD (REGISTERED NUMBER: 09156999)

ABRIDGED BALANCE SHEET
31ST JANUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 322,299 226,595

CURRENT ASSETS
Stocks 36,911 42,007
Debtors 830,244 664,292
Cash at bank 109,428 376,434
976,583 1,082,733
CREDITORS
Amounts falling due within one year 759,634 879,645
NET CURRENT ASSETS 216,949 203,088
TOTAL ASSETS LESS CURRENT
LIABILITIES

539,248

429,683

CREDITORS
Amounts falling due after more than one
year

(279,453

)

(300,778

)

PROVISIONS FOR LIABILITIES (80,575 ) (43,053 )
NET ASSETS 179,220 85,852

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 179,120 85,752
SHAREHOLDERS' FUNDS 179,220 85,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2024 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.

REECE DRYWALL LTD (REGISTERED NUMBER: 09156999)

ABRIDGED BALANCE SHEET - continued
31ST JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 31st January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20th March 2024 and were signed on its behalf by:




Mr R C Jackson - Director



Mr R Parkin - Director


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 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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. 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st October 2022 350,147
Additions 179,126
Disposals (18,341 )
At 31st January 2024 510,932
DEPRECIATION
At 1st October 2022 123,552
Charge for period 76,870
Eliminated on disposal (11,789 )
At 31st January 2024 188,633
NET BOOK VALUE
At 31st January 2024 322,299
At 30th September 2022 226,595

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
£    £   
Mr R C Jackson
Balance outstanding at start of period - 32,418
Amounts repaid - (32,418 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

Mr R Parkin
Balance outstanding at start of period - 21,477
Amounts repaid - (21,477 )
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)