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REGISTERED NUMBER: 01039615 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Rexplus Limited

Rexplus Limited (Registered number: 01039615)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Rexplus Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr W C Mundy
Mrs M V S Nelthorpe
Mr W C J Mundy





SECRETARY: Ms S E Mundy





REGISTERED OFFICE: 15 Newland
Lincoln
Lincolnshire
LN1 1XG





REGISTERED NUMBER: 01039615 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Rexplus Limited (Registered number: 01039615)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 710,000 700,000

CURRENT ASSETS
Debtors 5 2,404 454
Cash at bank 41,032 19,150
43,436 19,604
CREDITORS
Amounts falling due within one year 6 10,986 4,610
NET CURRENT ASSETS 32,450 14,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

742,450

714,994

PROVISIONS FOR LIABILITIES 65,521 45,728
NET ASSETS 676,929 669,266

CAPITAL AND RESERVES
Called up share capital 7 100 100
Undistributable P&L reserve 390,594 555,719
Retained earnings 286,235 113,447
SHAREHOLDERS' FUNDS 676,929 669,266

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

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

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 18 September 2024 and were signed on its behalf by:





Mr W C Mundy - Director


Rexplus Limited (Registered number: 01039615)

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

1. STATUTORY INFORMATION

Rexplus 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents that are receivable throughout the financial year.


Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Rexplus Limited (Registered number: 01039615)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 700,000
Revaluations 10,000
At 31 March 2024 710,000
NET BOOK VALUE
At 31 March 2024 710,000
At 31 March 2023 700,000

The directors have considered the valuation of the properties and believe the fair value of the properties at the year end represents a fair true value.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 1999 179,678
Valuation in 2003 83,335
Valuation in 2014 150,000
Valuation in 2017 50,000
Valuation in 2020 50,000
Valuation in 2021 33,103
Valuation in 2023 (100,000 )
Valuation in 2024 10,000
Cost 253,884
710,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 253,884 253,884

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 397
Other debtors 2,404 57
2,404 454

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 6,108 -
Other creditors 4,878 4,610
10,986 4,610

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100