Company registration number 02115277 (England and Wales)
BILL REES AND COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
BILL REES AND COMPANY LIMITED
CONTENTS
Page
Company information
1
Accountants' report
Balance sheet
2 - 3
Notes to the financial statements
3 - 7
BILL REES AND COMPANY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mrs J Rees
Mr W Rees
Secretary
Mrs J Rees
Company number
02115277
Registered office
92 Station Road
Clacton on Sea
Essex
CO15 1SG
Accountants
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
BILL REES AND COMPANY LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,434
916
Current assets
Debtors
5
75,164
61,093
Cash at bank and in hand
34,939
68,697
110,103
129,790
Creditors: amounts falling due within one year
6
(61,208)
(65,579)
Net current assets
48,895
64,211
Total assets less current liabilities
50,329
65,127
Capital and reserves
Called up share capital
175
175
Capital redemption reserve
25
25
Profit and loss reserves
50,129
64,927
Total equity
50,329
65,127
BILL REES AND COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 15 October 2024 and are signed on its behalf by:
Mr W Rees
Director
Company Registration No. 02115277
The notes on pages 3 to 7 form part of these financial statements
BILL REES AND COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
2
Accounting policies
Company information

Bill Rees and Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 92 Station Road, Clacton on Sea, Essex, CO15 1SG.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment
33% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

BILL REES AND COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
2
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2.5
Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
BILL REES AND COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Equipment
£
Cost
At 1 July 2023
7,021
Additions
1,083
Disposals
(3,859)
At 30 June 2024
4,245
Depreciation and impairment
At 1 July 2023
6,104
Depreciation charged in the year
439
Eliminated in respect of disposals
(3,732)
At 30 June 2024
2,811
Carrying amount
At 30 June 2024
1,434
At 30 June 2023
916
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
56,726
50,525
Other debtors
16,163
10,075
72,889
60,600
Deferred tax asset
2,275
493
75,164
61,093
BILL REES AND COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
56,115
57,666
Taxation and social security
-
0
2,538
Other creditors
5,093
5,375
61,208
65,579
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