IRIS Accounts Production v24.2.0.383 03243815 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032438152023-03-31032438152024-03-31032438152023-04-012024-03-31032438152022-03-31032438152022-04-012023-03-31032438152023-03-3103243815ns15:EnglandWales2023-04-012024-03-3103243815ns14:PoundSterling2023-04-012024-03-3103243815ns10:Director12023-04-012024-03-3103243815ns10:Director22023-04-012024-03-3103243815ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103243815ns10:SmallEntities2023-04-012024-03-3103243815ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103243815ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103243815ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103243815ns10:FullAccounts2023-04-012024-03-3103243815ns10:CompanySecretary12023-04-012024-03-3103243815ns10:RegisteredOffice2023-04-012024-03-3103243815ns5:CurrentFinancialInstruments2024-03-3103243815ns5:CurrentFinancialInstruments2023-03-3103243815ns5:ShareCapital2024-03-3103243815ns5:ShareCapital2023-03-3103243815ns5:RetainedEarningsAccumulatedLosses2024-03-3103243815ns5:RetainedEarningsAccumulatedLosses2023-03-3103243815ns5:FurnitureFittings2023-04-012024-03-3103243815ns5:ComputerEquipment2023-04-012024-03-3103243815ns5:FurnitureFittings2023-03-3103243815ns5:ComputerEquipment2023-03-3103243815ns5:FurnitureFittings2024-03-3103243815ns5:ComputerEquipment2024-03-3103243815ns5:FurnitureFittings2023-03-3103243815ns5:ComputerEquipment2023-03-3103243815ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103243815ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31032438151ns10:Director12023-03-31032438151ns10:Director12022-03-31032438151ns10:Director12023-04-012024-03-31032438151ns10:Director12022-04-012023-03-31032438151ns10:Director12024-03-31032438151ns10:Director12023-03-31
REGISTERED NUMBER: 03243815 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

REALITY LIMITED

REALITY LIMITED (REGISTERED NUMBER: 03243815)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


REALITY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr P S Corrick
Ms A F Lindars





SECRETARY: Mr P S Corrick





REGISTERED OFFICE: Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN





REGISTERED NUMBER: 03243815 (England and Wales)





ACCOUNTANTS: Richardson Jones
Chartered Accountants
Mercury House
19-21 Chapel Street
Marlow
Buckinghamshire
SL7 3HN

REALITY LIMITED (REGISTERED NUMBER: 03243815)

BALANCE SHEET
31ST MARCH 2024

31.3.24 31.3.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 1,750 2,600

CURRENT ASSETS
Debtors 5 17,703 137,162
Cash at bank and in hand 240 438
17,943 137,600
CREDITORS
Amounts falling due within one year 6 9,162 40,551
NET CURRENT ASSETS 8,781 97,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,531

99,649

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 9,531 98,649
SHAREHOLDERS' FUNDS 10,531 99,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:




Mr P S Corrick - Director



Ms A F Lindars - Director


REALITY LIMITED (REGISTERED NUMBER: 03243815)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Reality 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1st April 2023 2,074 30,185 32,259
Additions - 125 125
Disposals (1,919 ) (26,467 ) (28,386 )
At 31st March 2024 155 3,843 3,998
DEPRECIATION
At 1st April 2023 1,958 27,701 29,659
Charge for year 38 937 975
Eliminated on disposal (1,919 ) (26,467 ) (28,386 )
At 31st March 2024 77 2,171 2,248
NET BOOK VALUE
At 31st March 2024 78 1,672 1,750
At 31st March 2023 116 2,484 2,600

REALITY LIMITED (REGISTERED NUMBER: 03243815)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Trade debtors - 17,341
Directors' current accounts 11,958 99,299
Social security and other tax - 422
Tax recoverable 5,395 2,472
VAT 350 -
Prepayments and accrued income - 17,628
17,703 137,162

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£ £
Bank loans and overdrafts 1,616 -
Tax - 30,793
Social security and other taxes 1,205 -
Net wages control 2,276 2,772
VAT - 2,152
Other creditors 157 194
Company barclay card 657 1,389
Accruals and deferred income 3,251 3,251
9,162 40,551

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£ £
Mr P S Corrick
Balance outstanding at start of year 99,299 (93,202 )
Amounts advanced 87,359 264,868
Amounts repaid (174,700 ) (72,367 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,958 99,299

The directors loan balance of £11,958 was repaid in full by 31 December 2024.

8. ULTIMATE CONTROLLING PARTY

Mr P Corrick and Ms A Lindars control the company by virtue of their 100% combined shareholding.