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REGISTERED NUMBER: 00756929 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Retail Efficiency Limited

Retail Efficiency Limited (Registered number: 00756929)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Retail Efficiency Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs D A Stidolph
C Haggard
R Stidolph





REGISTERED OFFICE: 12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH





REGISTERED NUMBER: 00756929 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Retail Efficiency Limited (Registered number: 00756929)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,609 2,164
Investments 6 1 1
2,610 2,165

CURRENT ASSETS
Debtors 7 163,563 137,734
Cash at bank and in hand 78,441 62,304
242,004 200,038
CREDITORS
Amounts falling due within one year 8 95,966 83,802
NET CURRENT ASSETS 146,038 116,236
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,648

118,401

PROVISIONS FOR LIABILITIES 652 411
NET ASSETS 147,996 117,990

CAPITAL AND RESERVES
Called up share capital 1,500 1,100
Retained earnings 146,496 116,890
SHAREHOLDERS' FUNDS 147,996 117,990

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

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

Retail Efficiency Limited (Registered number: 00756929)

Balance Sheet - continued
31 May 2024


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 24 September 2024 and were signed on its behalf by:





C Haggard - Director


Retail Efficiency Limited (Registered number: 00756929)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Retail Efficiency 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 represents the value of services (excluding value added tax) provided under contracts to extent that there is a right to consideration and is recorded at the value of the consideration due.Where a contract has only been partially completed at the balance sheet date turnover represents the value of services provided to date based on proportion of the total expected consideration on completion. Where payments are received from customers in advance of services provided,the amounts received are recorded as Deferred Income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the aquisition of a business in 1992, has been written off evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Investments - not provided

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.

Retail Efficiency Limited (Registered number: 00756929)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 100
AMORTISATION
At 1 June 2023
and 31 May 2024 100
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Computer and
equipment fittings Investments Totals
£    £    £    £   
COST
At 1 June 2023 7,341 10,983 422 18,746
Additions 781 279 - 1,060
At 31 May 2024 8,122 11,262 422 19,806
DEPRECIATION
At 1 June 2023 6,198 10,384 - 16,582
Charge for year 396 219 - 615
At 31 May 2024 6,594 10,603 - 17,197
NET BOOK VALUE
At 31 May 2024 1,528 659 422 2,609
At 31 May 2023 1,143 599 422 2,164

Retail Efficiency Limited (Registered number: 00756929)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 1
NET BOOK VALUE
At 31 May 2024 1
At 31 May 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 128,254 106,523
Amounts recoverable on contract 34,909 31,211
Other debtors 400 -
163,563 137,734

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,613 3,907
Taxation and social security 53,906 41,652
Other creditors 39,447 38,243
95,966 83,802

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,680 2,790
Between one and five years 15,850 -
28,530 2,790

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.