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Company Registration No. 09750344 (England and Wales)
Reecer Group Ltd Consolidated Group Accounts for the year ended 30 September 2023
Reecer Group Ltd Consolidated Group Accounts Contents
Page
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Reecer Group Ltd Company Information for the year ended 30 September 2023
Directors
Helen Reece Steve Reece
Company Number
09750344 (England and Wales)
Registered Office
Ashwell Grange House Stroat Chepstow Monmouthshire NP16 7LS United Kingdom
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Reecer Group Ltd for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reecer Group Ltd for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 19 December 2023
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Reecer Group Ltd Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,425,140 
1,589,754 
Investment property
348,350 
- 
2,773,490 
1,589,754 
Current assets
Inventories
754,706 
568,683 
Debtors
538,289 
1,080,273 
Investments
100,000 
- 
Cash at bank and in hand
1,130,631 
1,275,359 
2,523,626 
2,924,315 
Creditors: amounts falling due within one year
(812,741)
(903,787)
Net current assets
1,710,885 
2,020,528 
Total assets less current liabilities
4,484,375 
3,610,282 
Creditors: amounts falling due after more than one year
(90,595)
(300,977)
Provisions for liabilities
Deferred tax
(390,801)
(233,245)
Net assets
4,002,979 
3,076,060 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
4,001,979 
3,075,060 
Shareholders' funds
4,002,979 
3,076,060 
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2023 and were signed on its behalf by
Steve Reece Director Company Registration No. 09750344
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Reecer Group Ltd Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Reecer Group Ltd is a private company, limited by shares, registered in England and Wales, registration number 09750344. The registered office is Ashwell Grange House, Stroat, Chepstow, Monmouthshire, NP16 7LS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
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 sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25 years straight line
Plant & machinery
10 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
5 years straight line
Computer equipment
3 years straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Reecer Group Ltd Notes to the Accounts for the year ended 30 September 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The group loss was attributed to a write down of fixed assets during the financial period under review. The directors and management are of the opinion that the group has sufficient cash and assets to meets its obligations as they fall due.
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Reecer Group Ltd Notes to the Accounts for the year ended 30 September 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2022
210,139 
2,569,589 
183,277 
2,963,005 
Additions
- 
583,268 
6,342 
589,610 
At 30 September 2023
210,139 
3,152,857 
189,619 
3,552,615 
Depreciation
At 1 October 2022
- 
1,248,296 
124,955 
1,373,251 
Charge for the year
- 
(222,547)
(23,229)
(245,776)
At 30 September 2023
- 
1,025,749 
101,726 
1,127,475 
Net book value
At 30 September 2023
210,139 
2,127,108 
87,893 
2,425,140 
At 30 September 2022
210,139 
1,321,293 
58,322 
1,589,754 
5
Investment property
2023 
£ 
Additions
348,350 
At 30 September 2023
348,350 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
501,104 
996,308 
Accrued income and prepayments
35,935 
43,410 
Other debtors
1,250 
- 
538,289 
1,039,718 
Amounts falling due after more than one year
Other debtors
- 
40,555 
7
Investments held as current assets
2023 
2022 
£ 
£ 
Unlisted investments
100,000 
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Reecer Group Ltd Notes to the Accounts for the year ended 30 September 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,628 
62,720 
VAT
89,320 
173,879 
Obligations under finance leases and hire purchase contracts
76,338 
109,547 
Trade creditors
486,384 
296,688 
Taxes and social security
13,225 
204,707 
Other creditors
5,342 
- 
Loans from directors
82,017 
- 
Accruals
49,487 
56,246 
812,741 
903,787 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
38,306 
28,241 
Obligations under finance leases and hire purchase contracts
52,289 
196,914 
Loans from directors
- 
75,822 
90,595 
300,977 
10
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
390,801 
233,245 
2023 
2022 
£ 
£ 
Provision at start of year
233,245 
227,835 
Charged to the profit and loss account
157,556 
5,410 
Provision at end of year
390,801 
233,245 
11
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
12
Transactions with related parties
At the balance sheet date the company owed £1 to Reecer Properties Ltd. At the balance sheet date the company owed £16,141 to Reecer Space Ltd (2022: £16,141) At the balance sheet date the company owed £100,000 to Reecer hire Ltd (2022: £nil)
13
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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