Rex Solutions Ltd |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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. |
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Tangible fixed assets |
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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: |
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Plant and machinery |
25% |
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Reducing balance method |
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Fixtures, fittings, tools and equipment |
25% |
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Reducing balance method |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
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Motor vehicles |
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Total |
£ |
£ |
£ |
|
Cost |
|
At 1 December 2022 |
10,568 |
|
25,857 |
|
36,425 |
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At 30 November 2023 |
10,568 |
|
25,857 |
|
36,425 |
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|
|
|
|
|
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|
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Depreciation |
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At 1 December 2022 |
10,256 |
|
25,856 |
|
36,112 |
|
Charge for the year |
312 |
|
1 |
|
313 |
|
At 30 November 2023 |
10,568 |
|
25,857 |
|
36,425 |
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|
|
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|
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Net book value |
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At 30 November 2023 |
- |
|
- |
|
- |
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At 30 November 2022 |
312 |
|
1 |
|
313 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
17,824 |
|
24,746 |
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Director's account |
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|
|
|
68,581 |
|
1,737 |
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|
|
|
|
|
86,405 |
|
26,483 |
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5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
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Taxation and social security costs |
85,746 |
|
58,798 |
|
Accruals |
471 |
|
864 |
|
|
|
|
|
|
86,217 |
|
59,662 |
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6 |
Related party transactions |
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The company paid the directors who are also the shareholders of the company a total dividend of £102,500 (2022: £130,583) for the year. |
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7 |
Controlling party |
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The director Mr P Tavoni controls the company. |
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8 |
Other information |
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Rex Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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11 Croyde Road |
|
Lytham |
|
St. Annes |
|
Lancashire |
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FY18 1EX |