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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
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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
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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
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Reecer Space Ltd Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
911,100 
563,318 
Current assets
Inventories
754,706 
568,683 
Debtors
822,475 
784,049 
Cash at bank and in hand
483,736 
679,350 
2,060,917 
2,032,082 
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 
Capital and reserves
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
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Reecer Space Ltd Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
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.
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.
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
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 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.
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Reecer Space Ltd Notes to the Accounts for the year ended 30 September 2023
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.
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 
Depreciation
At 1 October 2022
- 
408,411 
408,411 
Charge for the year
- 
19,371 
19,371 
At 30 September 2023
- 
427,782 
427,782 
Net book value
At 30 September 2023
210,139 
700,961 
911,100 
At 30 September 2022
210,139 
353,179 
563,318 
5
Inventories
2023 
2022 
£ 
£ 
Work in progress
754,706 
568,683 
754,706 
568,683 
Stock is valued at historical cost, or carrying value, whichever is the lower.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
554 
Trade debtors
326,246 
708,292 
Amounts due from group undertakings etc.
460,294 
12,100 
Accrued income and prepayments
35,935 
43,410 
822,475 
764,356 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
- 
19,693 
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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 
VAT
78,601 
172,690 
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 
Other creditors
5,342 
- 
Accruals
3,515 
3,000 
1,456,262 
1,113,382 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
18,446 
28,241 
Obligations under finance leases and hire purchase contracts
35,282 
30,931 
Loans from directors
74,305 
61,941 
128,033 
121,113 
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
126,341 
59,825 
2023 
2022 
£ 
£ 
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 
10
Share capital
2023 
2022 
£ 
£ 
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)
12
Controlling party
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.
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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).
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