Company Registration No. NI061733 (Northern Ireland)
Ream Limited
Unaudited accounts
for the year ended 30 November 2023
Ream Limited
Unaudited accounts
Contents
Ream Limited
Company Information
for the year ended 30 November 2023
Directors
Oranuch Quinn
Ryan Quinn
Company Number
NI061733 (Northern Ireland)
Registered Office
Unit 12 Carrowreagh Business Park
Dundonald
Belfast
BT16 1QQ
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
Ream Limited
Statement of financial position
as at 30 November 2023
Tangible assets
82,104
46,297
Cash at bank and in hand
72,955
39,194
Creditors: amounts falling due within one year
(135,095)
(97,876)
Net current assets
39,549
35,154
Total assets less current liabilities
121,653
81,451
Creditors: amounts falling due after more than one year
(16,769)
(26,867)
Called up share capital
2
2
Profit and loss account
104,882
54,582
Shareholders' funds
104,884
54,584
For the year ending 30 November 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 April 2024 and were signed on its behalf by
Ryan Quinn
Director
Company Registration No. NI061733
Ream Limited
Notes to the Accounts
for the year ended 30 November 2023
Ream Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI061733. The registered office is Unit 12 Carrowreagh Business Park, Dundonald, Belfast, BT16 1QQ, Northern Ireland.
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.
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:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
Ream Limited
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
181,881
62,940
-
244,821
Additions
47,783
-
3,447
51,230
At 30 November 2023
229,664
62,940
3,447
296,051
At 1 December 2022
167,494
31,030
-
198,524
Charge for the year
7,370
7,977
76
15,423
At 30 November 2023
174,864
39,007
76
213,947
At 30 November 2023
54,800
23,933
3,371
82,104
At 30 November 2022
14,387
31,910
-
46,297
Amounts falling due within one year
Trade debtors
69,029
81,167
Other debtors
32,660
12,669
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,854
9,611
Trade creditors
96,979
64,096
Taxes and social security
24,403
11,367
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 5 (2022: 5).