5 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06010346 2023-01-01 2023-12-31 06010346 2023-12-31 06010346 2022-12-31 06010346 2022-01-01 2022-12-31 06010346 2022-12-31 06010346 2021-12-31 06010346 bus:RegisteredOffice 2023-01-01 2023-12-31 06010346 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 06010346 bus:Director1 2023-01-01 2023-12-31 06010346 core:NetGoodwill 2023-12-31 06010346 core:PlantMachinery 2022-12-31 06010346 core:FurnitureFittingsToolsEquipment 2022-12-31 06010346 core:MotorVehicles 2022-12-31 06010346 core:PlantMachinery 2023-12-31 06010346 core:FurnitureFittingsToolsEquipment 2023-12-31 06010346 core:MotorVehicles 2023-12-31 06010346 core:WithinOneYear 2023-12-31 06010346 core:WithinOneYear 2022-12-31 06010346 core:ShareCapital 2023-12-31 06010346 core:ShareCapital 2022-12-31 06010346 core:RetainedEarningsAccumulatedLosses 2023-12-31 06010346 core:RetainedEarningsAccumulatedLosses 2022-12-31 06010346 core:PlantMachinery 2023-01-01 2023-12-31 06010346 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 06010346 core:MotorVehicles 2023-01-01 2023-12-31 06010346 core:NetGoodwill 2022-12-31 06010346 core:PlantMachinery 2022-12-31 06010346 core:FurnitureFittingsToolsEquipment 2022-12-31 06010346 core:MotorVehicles 2022-12-31 06010346 bus:Director1 2022-12-31 06010346 bus:Director1 2023-12-31 06010346 bus:Director1 2021-12-31 06010346 bus:Director1 2022-12-31 06010346 bus:Director1 2022-01-01 2022-12-31 06010346 bus:SmallEntities 2023-01-01 2023-12-31 06010346 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06010346 bus:FullAccounts 2023-01-01 2023-12-31 06010346 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06010346 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06010346 core:NetGoodwill 2023-01-01 2023-12-31 06010346 core:AllUnconsolidatedStructuredEntities 2023-01-01 2023-12-31 06010346 1 2023-01-01 2023-12-31
Company registration number: 06010346
Reedley Service Centre Limited
Unaudited filleted financial statements
31 December 2023
Reedley Service Centre Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Reedley Service Centre Limited
Directors and other information
Director Mr P Emmott
Company number 06010346
Registered office 25 Kenyon Road
Brierfield
Nelson
Lancashire
BB9 5SP
Business address 25 Kenyon Road
Brierfield
Nelson
Lancashire
BB9 5SP
Accountants Windle & Bowker Limited
Croft House
Station Road
Barnoldswick
Lancashire
BB18 5NA
Bankers National Westminster Bank Plc
2 Howe Walk
Burnley
Lancashire
BB11 1TR
Reedley Service Centre Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 42,992 40,758
_______ _______
42,992 40,758
Current assets
Stocks 500 500
Debtors 7 351,349 251,833
Cash at bank and in hand 50,664 58,395
_______ _______
402,513 310,728
Creditors: amounts falling due
within one year 8 ( 165,639) ( 135,394)
_______ _______
Net current assets 236,874 175,334
_______ _______
Total assets less current liabilities 279,866 216,092
Provisions for liabilities ( 7,702) ( 7,175)
_______ _______
Net assets 272,164 208,917
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 272,064 208,817
_______ _______
Shareholders funds 272,164 208,917
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 April 2024 , and are signed on behalf of the board by:
Mr P Emmott
Director
Company registration number: 06010346
Reedley Service Centre Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 25 Kenyon Road, Brierfield, Nelson, Lancashire, BB9 5SP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10% straight line
Fittings fixtures and equipment - 33.33% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 5 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2023 and 31 December 2023 34,000 34,000
_______ _______
Amortisation
At 1 January 2023 and 31 December 2023 34,000 34,000
_______ _______
Carrying amount
At 31 December 2023 - -
_______ _______
At 31 December 2022 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 100,772 19,854 3,700 124,326
Additions 10,995 - - 10,995
_______ _______ _______ _______
At 31 December 2023 111,767 19,854 3,700 135,321
_______ _______ _______ _______
Depreciation
At 1 January 2023 62,777 19,265 1,526 83,568
Charge for the year 8,100 118 543 8,761
_______ _______ _______ _______
At 31 December 2023 70,877 19,383 2,069 92,329
_______ _______ _______ _______
Carrying amount
At 31 December 2023 40,890 471 1,631 42,992
_______ _______ _______ _______
At 31 December 2022 37,995 589 2,174 40,758
_______ _______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 11,188 15,943
Other debtors 340,161 235,890
_______ _______
351,349 251,833
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 28,049 36,242
Trade creditors 57,844 35,015
Corporation tax 48,530 32,896
Social security and other taxes 25,672 23,448
Other creditors 5,544 7,793
_______ _______
165,639 135,394
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr P Emmott 175,759 96,445 ( 23,000) 249,204
_______ _______ _______ _______
2022
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr P Emmott 146,938 51,821 ( 23,000) 175,759
_______ _______ _______ _______
The above stated loans carry interest at a rate of 2.25% (2022 - 2.0%). Included within other interest receivable and similar income is an amount of £4,728 (2022 - £3,195) in respect of the overdrawn position.
10. Related party transactions
During the year, dividends of £23,000 (2022 - £23,000) were paid to the Director.The company operated from the registered office address during the year, which is a property owned by the Director.During the year, the company paid rent of £21,200 (2022 - £20,800) for the use of the premises.
11. Controlling party
The company is under the control of the Director who is interested in 100% of the company's issued share capital.