Registered number
09373412
Reliance Residential Limited
Filleted Accounts
31 January 2024
Reliance Residential Limited
Registered number: 09373412
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36,838 51,452
Current assets
Debtors 4 554,809 399,422
Cash at bank and in hand 379,187 422,972
933,996 822,394
Creditors: amounts falling due within one year 5 (263,089) (145,513)
Net current assets 670,907 676,881
Total assets less current liabilities 707,745 728,333
Creditors: amounts falling due after more than one year 6 (166,182) (256,662)
Net assets 541,563 471,671
Capital and reserves
Called up share capital 1 1
Profit and loss account 541,562 471,670
Shareholders' funds 541,563 471,671
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Amit Chowdhary
Director
Approved by the board on 9 October 2024
Reliance Residential Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
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 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.
Tangible fixed assets
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:
Plant and machinery 15 Straight line
Motor vehicles 20 Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 13,797 70,005 83,802
Additions 1,597 - 1,597
At 31 January 2024 15,394 70,005 85,399
Depreciation
At 1 February 2023 7,456 24,894 32,350
Charge for the year 2,210 14,001 16,211
At 31 January 2024 9,666 38,895 48,561
Net book value
At 31 January 2024 5,728 31,110 36,838
At 31 January 2023 6,341 45,111 51,452
4 Debtors 2024 2023
£ £
Trade debtors 232,720 258,093
Amounts owed by group undertakings and undertakings in which the company has a participating interest 222,000 52,051
Other debtors 100,089 89,278
554,809 399,422
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,637 4,918
Trade creditors 9,342 8,346
Taxation and social security costs 134,563 92,071
Other creditors 110,547 40,178
263,089 145,513
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,950 34,840
Obligations under finance lease and hire purchase contracts 37,458 48,539
Other creditors 103,774 173,283
166,182 256,662
7 Other information
Reliance Residential Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Albury Ride
Cheshunt
Waltham Cross
London
EN8 8XE
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