Company Registration No. 04641675 (England and Wales)
Reecer Space Ltd
Unaudited accounts
for the year ended 30 September 2023
Reecer Space Ltd
Unaudited accounts
Contents
Reecer Space Ltd
Company Information
for the year ended 30 September 2023
Directors
Helen Reece
Steve Reece
Company Number
04641675 (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
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Reecer Space 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 Space 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
Reecer Space Ltd
Statement of financial position
as at 30 September 2023
Tangible assets
911,100
563,318
Inventories
754,706
568,683
Cash at bank and in hand
483,736
679,350
Creditors: amounts falling due within one year
(1,456,262)
(1,113,382)
Net current assets
604,655
918,700
Total assets less current liabilities
1,515,755
1,482,018
Creditors: amounts falling due after more than one year
(128,033)
(121,113)
Provisions for liabilities
Deferred tax
(126,341)
(59,825)
Net assets
1,261,381
1,301,080
Called up share capital
1,000
1,000
Profit and loss account
1,260,381
1,300,080
Shareholders' funds
1,261,381
1,301,080
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. 04641675
Reecer Space Ltd
Notes to the Accounts
for the year ended 30 September 2023
Reecer Space Ltd is a private company, limited by shares, registered in England and Wales, registration number 04641675. 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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
50 years straight liine
Plant & machinery
5 years straight liine
Motor vehicles
4 years straight liine
Fixtures & fittings
5 years straight liine
Computer equipment
5 years straight liine
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.
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.
Reecer Space Ltd
Notes to the Accounts
for the year ended 30 September 2023
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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 October 2022
210,139
761,590
971,729
Additions
-
367,153
367,153
At 30 September 2023
210,139
1,128,743
1,338,882
At 1 October 2022
-
408,411
408,411
Charge for the year
-
19,371
19,371
At 30 September 2023
-
427,782
427,782
At 30 September 2023
210,139
700,961
911,100
At 30 September 2022
210,139
353,179
563,318
Work in progress
754,706
568,683
Stock is valued at historical cost, or carrying value, whichever is the lower.
Amounts falling due within one year
Trade debtors
326,246
708,292
Amounts due from group undertakings etc.
460,294
12,100
Accrued income and prepayments
35,935
43,410
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
19,693
Reecer Space Ltd
Notes to the Accounts
for the year ended 30 September 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,628
10,628
Obligations under finance leases and hire purchase contracts
-
71,811
Trade creditors
440,686
268,224
Amounts owed to group undertakings and other participating interests
904,265
451,862
Taxes and social security
13,225
135,167
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
35,282
30,931
Loans from directors
74,305
61,941
9
Deferred taxation
2023
2022
Accelerated capital allowances
126,341
59,825
Provision at start of year
59,825
73,480
Charged/(credited) to the profit and loss account
66,516
(13,655)
Provision at end of year
126,341
59,825
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Transactions with related parties
At the balance sheet date the company was owed £19,693 by Lydney Containers Ltd (2022: £19,693).
At the balance sheet date the company was owed £15,140 by Reecer Group Ltd (2022: £12,100).
At the balance sheet date the company was owed £425,461 by Reecer Properties Ltd (2022: N/A)
The company is wholly owned by the Reecer Group Ltd, a company registered in England and Wales (number 09750344) whose place of business is Ashwell Grange House, Stroat, Chepstow, Monmouthshire NP16 7LS.
Reecer Space Ltd
Notes to the Accounts
for the year ended 30 September 2023
13
Average number of employees
During the year the average number of employees was 0 (2022: 0).