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REGISTERED NUMBER: 06028102 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

RECLEM LTD

RECLEM LTD (REGISTERED NUMBER: 06028102)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RECLEM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr R M Everson





SECRETARY: Mrs K M Everson





REGISTERED OFFICE: 2a Acomb Court
Front Street
Acomb
York
North Yorkshire
YO24 3BJ





REGISTERED NUMBER: 06028102 (England and Wales)





ACCOUNTANTS: Smith Wilson Limited
2A Acomb Court
Acomb
York
North Yorkshire
YO24 3BJ

RECLEM LTD (REGISTERED NUMBER: 06028102)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 4 245,367 245,367
Cash at bank 515 3,471
245,882 248,838
CREDITORS
Amounts falling due within one year 5 114,085 114,407
NET CURRENT ASSETS 131,797 134,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,797

134,431

CREDITORS
Amounts falling due after more than one year 6 134,995 134,995
NET LIABILITIES (3,198 ) (564 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 (3,298 ) (664 )
SHAREHOLDERS' FUNDS (3,198 ) (564 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 26 September 2024 and were signed by:





Mr R M Everson - Director


RECLEM LTD (REGISTERED NUMBER: 06028102)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Reclem Ltd 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Going concern
The director has formed the judgement, at the time of approving the financial statements, that there is a reasonable expectation that the Company has sufficient access to financial resources which, together with internally generated cash flows, will continue to provide sufficient sources of liquidity to fund its current operations including its contractual and commercial commitments and the Company is well placed to manage its business risks successfully, despite the current economic outlook.

For this reason, the director continues to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

4. STOCKS
2023 2022
£    £   
Stocks 245,367 245,367

RECLEM LTD (REGISTERED NUMBER: 06028102)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 98,307 98,307
Payments on account 713 713
Tax - 23
Directors' current accounts 14,315 14,614
Accrued expenses 750 750
114,085 114,407

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans more 5 yr 134,995 134,995

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 134,995 134,995

7. RESERVES
Retained
earnings
£   

At 1 January 2023 (664 )
Deficit for the year (2,634 )
At 31 December 2023 (3,298 )

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr R M Everson has provided a personal guarantee of £20,000 in respect of the company's bank borrowing. Mrs K M Everson has provided an interest-free loan of £103,723 to assist with the purchase and development of 45 Old Road, Farsley, LS28 5BG.

9. ULTIMATE CONTROLLING PARTY

The controlling party is RM & Mrs K M Everson.