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Registered number: 13118131
B & P Reid Holdings Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Elementary Accountancy Services Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13118131
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,218 1,689
Investments 5 - 10
1,218 1,699
CURRENT ASSETS
Debtors 6 2,170 75
Investments 7 1,264 1,159
Cash at bank and in hand 57,265 18,875
60,699 20,109
Creditors: Amounts Falling Due Within One Year 8 (47,591 ) (20,782 )
NET CURRENT ASSETS (LIABILITIES) 13,108 (673 )
TOTAL ASSETS LESS CURRENT LIABILITIES 14,326 1,026
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (304 ) (321 )
NET ASSETS 14,022 705
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 14,021 704
SHAREHOLDERS' FUNDS 14,022 705
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Benjamin Reid
Director
15/04/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
B & P Reid Holdings Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13118131 . The registered office is 5 Naburn Drive, Orrell, Wigan, WN5 8SB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover relates to consultancy services provided.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 1,750 1,097 2,847
Additions - 320 320
As at 31 January 2024 1,750 1,417 3,167
Depreciation
As at 1 February 2023 634 524 1,158
Provided during the period 437 354 791
As at 31 January 2024 1,071 878 1,949
Net Book Value
As at 31 January 2024 679 539 1,218
As at 1 February 2023 1,116 573 1,689
5. Investments
Unlisted
£
Cost
As at 1 February 2023 10
Disposals (10 )
As at 31 January 2024 -
Provision
As at 1 February 2023 -
As at 31 January 2024 -
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 10
Investments at the year end includes £10 in relation to an investment in an associate.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,170 -
Other debtors - 75
2,170 75
7. Current Asset Investments
2024 2023
£ £
Other investments, held for sale 1,264 1,159
1,264 1,159
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 17,895 7,060
Other creditors 540 -
Accruals and deferred income 60 -
Director's loan account 29,096 13,722
47,591 20,782
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 304 321
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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