Registered number
05242064
Reggae Limited
Filleted Accounts
for the year ended 30 September 2023
Reggae Limited
Registered number: 05242064
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 344 429
Current assets
Stocks 12,500 14,500
Cash at bank and in hand 14,172 26,361
26,672 40,861
Creditors: amounts falling due within one year 4 (7,340) (22,933)
Net current assets 19,332 17,928
Net assets 19,676 18,357
Capital and reserves
Called up share capital 2 2
Profit and loss account 19,674 18,355
Shareholders' funds 19,676 18,357
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Andrew John Ritchie
Director
Approved by the board on 11 April 2024
Reggae Limited
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 October 2022 5,000
At 30 September 2023 5,000
Depreciation
At 1 October 2022 4,571
Charge for the year 85
At 30 September 2023 4,656
Net book value
At 30 September 2023 344
At 30 September 2022 429
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,121 2,616
Other creditors 4,219 20,317
7,340 22,933
5 Other information
Reggae Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Balham High Road
Balham
London
SW12 9AL
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