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REGISTERED NUMBER: 03130404 (England and Wales)















Financial Statements for the Year Ended 30 November 2023

for

Reflexshift Limited

Reflexshift Limited (Registered number: 03130404)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reflexshift Limited

Company Information
for the year ended 30 November 2023







DIRECTOR: S Harris





REGISTERED OFFICE: 42 Pitt Street
Barnsley
South Yorkshire
S70 1BB





REGISTERED NUMBER: 03130404 (England and Wales)





ACCOUNTANTS: Paul Howley & Co Ltd
Chartered Certified Accountants
42 Pitt Street
Barnsley
South Yorkshire
S70 1BB

Reflexshift Limited (Registered number: 03130404)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 29,179 1,619
Investment property 4 1,110,000 1,110,000
1,139,179 1,111,619

CURRENT ASSETS
Debtors 5 341,955 355,908
Cash at bank 11,631 57,614
353,586 413,522
CREDITORS
Amounts falling due within one year 6 188,682 212,784
NET CURRENT ASSETS 164,904 200,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,304,083

1,312,357

CREDITORS
Amounts falling due after more than one year 7 (14,408 ) (23,718 )

PROVISIONS FOR LIABILITIES (36,722 ) (54,791 )
NET ASSETS 1,252,953 1,233,848

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Fair value reserve 8 295,300 270,543
Retained earnings 942,653 948,305
SHAREHOLDERS' FUNDS 1,252,953 1,233,848

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.

Reflexshift Limited (Registered number: 03130404)

Balance Sheet - continued
30 November 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2024 and were signed by:





S Harris - Director


Reflexshift Limited (Registered number: 03130404)

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

1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost, 20% on reducing balance and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Reflexshift Limited (Registered number: 03130404)

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

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 25,480
Additions 32,277
At 30 November 2023 57,757
DEPRECIATION
At 1 December 2022 23,861
Charge for year 4,717
At 30 November 2023 28,578
NET BOOK VALUE
At 30 November 2023 29,179
At 30 November 2022 1,619

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 1,110,000
NET BOOK VALUE
At 30 November 2023 1,110,000
At 30 November 2022 1,110,000

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2006 17,184
Valuation in 2013 12,786
Valuation in 2022 295,363
Cost 784,667
1,110,000

Reflexshift Limited (Registered number: 03130404)

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

4. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 785,623 784,667
Aggregate depreciation (169,755 ) (153,266 )

Investment properties were valued on an open market basis on 30 November 2023 by the director, S Harris .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 441 441
Other debtors 341,514 355,467
341,955 355,908

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 9,310 9,080
Trade creditors - 43
Taxation and social security - 10,621
Other creditors 179,372 193,040
188,682 212,784

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 14,408 23,718

8. RESERVES
Fair
value
reserve
£   
At 1 December 2022 270,543
Deferred tax movement 24,757

At 30 November 2023 295,300