Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09731771 Mr M C Rea Mrs F R Rea iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09731771 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-03-31 09731771 2023-03-31 09731771 2024-03-31 09731771 2023-04-01 2024-03-31 09731771 frs-core:CurrentFinancialInstruments 2024-03-31 09731771 frs-core:Non-currentFinancialInstruments 2024-03-31 09731771 frs-core:ComputerEquipment 2024-03-31 09731771 frs-core:ComputerEquipment 2023-04-01 2024-03-31 09731771 frs-core:ComputerEquipment 2023-03-31 09731771 frs-core:FurnitureFittings 2024-03-31 09731771 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09731771 frs-core:FurnitureFittings 2023-03-31 09731771 frs-core:ShareCapital 2024-03-31 09731771 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09731771 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09731771 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09731771 frs-bus:SmallEntities 2023-04-01 2024-03-31 09731771 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09731771 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09731771 frs-bus:Director1 2023-04-01 2024-03-31 09731771 frs-bus:Director2 2023-04-01 2024-03-31 09731771 frs-countries:EnglandWales 2023-04-01 2024-03-31 09731771 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-03-31 09731771 2022-03-31 09731771 2023-03-31 09731771 2022-04-01 2023-03-31 09731771 frs-core:CurrentFinancialInstruments 2023-03-31 09731771 frs-core:Non-currentFinancialInstruments 2023-03-31 09731771 frs-core:ShareCapital 2023-03-31 09731771 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 09731771
Rea Capital Group Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—7
Page 1
Company Information
Directors Mr M C Rea
Mrs F R Rea
Company Number 09731771
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Page 2
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Rea Capital Group Ltd For The Year Ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Rea Capital Group Ltd For The Year Ended 31 March 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Rea Capital Group Ltd , as a body, in accordance with the terms of our engagement letter dated 12 January 2024. Our work has been undertaken solely to prepare for your approval the accounts of Rea Capital Group Ltd and state those matters that we have agreed to state to the directors of Rea Capital Group Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rea Capital Group Ltd and its directors, as a body, for our work or for this report.
It is your duty to ensure that Rea Capital Group Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Rea Capital Group Ltd . You consider that Rea Capital Group Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Rea Capital Group Ltd . 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 financial statements.
Signed
21 August 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 09731771
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,783 7,042
4,783 7,042
CURRENT ASSETS
Debtors 5 786 1,686
Cash at bank and in hand 96,561 125,866
97,347 127,552
Creditors: Amounts Falling Due Within One Year 6 (41,127 ) (79,499 )
NET CURRENT ASSETS (LIABILITIES) 56,220 48,053
TOTAL ASSETS LESS CURRENT LIABILITIES 61,003 55,095
Creditors: Amounts Falling Due After More Than One Year 7 (7,863 ) (9,138 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (909 ) (1,338 )
NET ASSETS 52,231 44,619
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 52,229 44,617
SHAREHOLDERS' FUNDS 52,231 44,619
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For the year ending 31 March 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M C Rea
Director
21 August 2024
The notes on pages 5 to 7 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Rea Capital Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09731771 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Turnover
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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and fittings 25% Reducing balance
Computer equipment 33% Straight line
2.4. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.5. Provisions
Provisions for liabilities of uncertain timing or amount have been recognised at the best estimate of the cost, using management's judgement.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Fixtures and fittings Computer equipment Total
£ £ £
Cost
As at 1 April 2023 5,796 15,205 21,001
Additions - 2,957 2,957
Disposals - (4,060 ) (4,060 )
As at 31 March 2024 5,796 14,102 19,898
Depreciation
As at 1 April 2023 3,737 10,222 13,959
Provided during the period 515 4,701 5,216
Disposals - (4,060 ) (4,060 )
As at 31 March 2024 4,252 10,863 15,115
Net Book Value
As at 31 March 2024 1,544 3,239 4,783
As at 1 April 2023 2,059 4,983 7,042
5. Debtors
2024 2023
as restated
£ £
Due within one year
Prepayments and accrued income 786 1,686
6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 269 -
Bank loans and overdrafts 1,275 1,275
Corporation tax 3,198 16,837
Other creditors 3,567 28,567
Accruals and deferred income 11,200 21,500
Directors' loan accounts 21,618 11,320
41,127 79,499
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 7,863 9,138
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
Of the creditors falling due within and after more than one year the following amounts are due after more than five years.
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2024 2023
as restated
£ £
Bank loans 2,762 4,037
8. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2 2
9. Related Party Transactions
The following related party transactions were undertaken during the year:
The director withdrew amounts totalling £87,290 (2023: £182,816) and introduced amounts totalling £97,588 (2023: £193,544) At the balance sheet date the amount payable to the director was £21,618 (2023: £11,320).
Dividends were paid to the directors in respect of their shareholdings totalling £2,000 (2023: £42,000).
The aggregate remuneration paid to key management personnel for the year was £18,200 (2023: £18,200).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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