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REGISTERED NUMBER: 02392750 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 30 November 2023

for

REEFWOOD LIMITED

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


REEFWOOD LIMITED

Company Information
for the year ended 30 November 2023







DIRECTOR: P G Cobb





SECRETARY: P G Cobb





REGISTERED OFFICE: 35 Brock Street
Bath
BA1 2LN





REGISTERED NUMBER: 02392750 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Report of the Director
for the year ended 30 November 2023

The director presents his report with the financial statements of the company for the year ended 30 November 2023.

DIRECTORS
P G Cobb has held office during the whole of the period from 1 December 2022 to the date of this report.

Other changes in directors holding office are as follows:

V C Hayes - resigned 15 February 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





P G Cobb - Secretary


28 August 2024

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Reefwood Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reefwood Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Reefwood Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reefwood Limited and state those matters that we have agreed to state to the director of Reefwood Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reefwood Limited and its director for our work or for this report.

It is your duty to ensure that Reefwood Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Reefwood Limited. You consider that Reefwood Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Reefwood Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


28 August 2024

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Income Statement
for the year ended 30 November 2023

2023 2022
Notes £    £   

TURNOVER 675,517 864,628

Cost of sales 135,581 123,702
GROSS PROFIT 539,936 740,926

Administrative expenses 651,287 670,963
(111,351 ) 69,963

Other operating income 19,810 19,589
OPERATING (LOSS)/PROFIT (91,541 ) 89,552

Interest receivable and similar income 7,307 1,233
(84,234 ) 90,785

Interest payable and similar expenses 484 1,410
(LOSS)/PROFIT BEFORE TAXATION (84,718 ) 89,375

Tax on (loss)/profit 5 (15,864 ) 18,696
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(68,854

)

70,679

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 62,629 72,571

CURRENT ASSETS
Debtors 7 204,094 129,427
Cash at bank and in hand 284,176 534,313
488,270 663,740
CREDITORS
Amounts falling due within one year 8 64,549 112,839
NET CURRENT ASSETS 423,721 550,901
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,350

623,472

CREDITORS
Amounts falling due after more than one
year

9

-

(1,361

)

PROVISIONS FOR LIABILITIES 10 (1,551 ) (3,458 )
NET ASSETS 484,799 618,653

CAPITAL AND RESERVES
Called up share capital 33 33
Capital redemption reserve 33 33
Retained earnings 484,733 618,587
SHAREHOLDERS' FUNDS 484,799 618,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Balance Sheet - continued
30 November 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 28 August 2024 and were signed by:





P G Cobb - Director


REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Statement of Changes in Equity
for the year ended 30 November 2023

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 December 2021 33 623,908 33 623,974

Changes in equity
Dividends - (76,000 ) - (76,000 )
Total comprehensive income - 70,679 - 70,679
Balance at 30 November 2022 33 618,587 33 618,653

Changes in equity
Dividends - (65,000 ) - (65,000 )
Total comprehensive income - (68,854 ) - (68,854 )
Balance at 30 November 2023 33 484,733 33 484,799

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Reefwood Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax, recognised when services have been rendered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the assets if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 20 ) .

5. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax (13,957 ) 20,134
Corporation tax - prior year
adjustment - (99 )
Total current tax (13,957 ) 20,035

Deferred tax (1,907 ) (1,339 )
Tax on (loss)/profit (15,864 ) 18,696

6. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 86,666 151,863 11,133 249,662
Additions 2,935 - 595 3,530
At 30 November 2023 89,601 151,863 11,728 253,192
DEPRECIATION
At 1 December 2022 62,386 109,363 5,342 177,091
Charge for year 1,889 10,625 958 13,472
At 30 November 2023 64,275 119,988 6,300 190,563
NET BOOK VALUE
At 30 November 2023 25,326 31,875 5,428 62,629
At 30 November 2022 24,280 42,500 5,791 72,571


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 139,048 49,145
Other debtors 65,046 80,282
204,094 129,427

REEFWOOD LIMITED (REGISTERED NUMBER: 02392750)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 1,361 4,500
Trade creditors 32,126 25,816
Taxation and social security 17,208 66,762
Other creditors 13,854 15,761
64,549 112,839

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 1,361

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,551 3,458

Deferred
tax
£   
Balance at 1 December 2022 3,458
Accelerated capital allowances (1,907 )
Balance at 30 November 2023 1,551