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Company No: 11899253 (England and Wales)

REMOUS GROUP LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

REMOUS GROUP LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

REMOUS GROUP LTD

BALANCE SHEET

As at 29 February 2024
REMOUS GROUP LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 14,667 18,667
Tangible assets 4 590,245 725,190
Investments 5 600 500
605,512 744,357
Current assets
Debtors 6 86,264 440
Cash at bank and in hand 19,787 45,898
106,051 46,338
Creditors: amounts falling due within one year 7 ( 238,109) ( 214,385)
Net current liabilities (132,058) (168,047)
Total assets less current liabilities 473,454 576,310
Creditors: amounts falling due after more than one year 8 ( 230,165) ( 295,002)
Provision for liabilities 9 ( 109,575) ( 75,733)
Net assets 133,714 205,575
Capital and reserves
Called-up share capital 2,000 2,000
Profit and loss account 131,714 203,575
Total shareholders' funds 133,714 205,575

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Remous Group Ltd (registered number: 11899253) were approved and authorised for issue by the Board of Directors on 09 October 2024. They were signed on its behalf by:

A C N Bunter
Director
REMOUS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
REMOUS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Remous Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 4 Barton View Business Park, Sheeplands Lane, Sherborne, DT9 4FW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the provision of equipment 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation


Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 - 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 March 2023 20,000 20,000
At 29 February 2024 20,000 20,000
Accumulated amortisation
At 01 March 2023 1,333 1,333
Charge for the financial year 4,000 4,000
At 29 February 2024 5,333 5,333
Net book value
At 29 February 2024 14,667 14,667
At 28 February 2023 18,667 18,667

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 March 2023 961,430 25,745 2,336 989,511
Additions 37,445 0 0 37,445
Disposals ( 123,074) ( 7,500) 0 ( 130,574)
At 29 February 2024 875,801 18,245 2,336 896,382
Accumulated depreciation
At 01 March 2023 258,636 5,352 333 264,321
Charge for the financial year 72,306 3,160 401 75,867
Disposals ( 32,109) ( 1,942) 0 ( 34,051)
At 29 February 2024 298,833 6,570 734 306,137
Net book value
At 29 February 2024 576,968 11,675 1,602 590,245
At 28 February 2023 702,794 20,393 2,003 725,190

5. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 600 500

Investments in subsidiaries

2024
£
Cost
At 01 March 2023 500
Additions 100
At 29 February 2024 600
Carrying value at 29 February 2024 600
Carrying value at 28 February 2023 500

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
29.02.2024
Ownership
28.02.2023
Remous Print Limited Unit 4 Barton View Business Park, Sheeplands Lane, Sherborne, Dorset, DR9 4FW The principal activity of Remous Print Limited is that of printing and publishing Ordinary A, Ordinary B and Ordinary C 100.00% 100.00%
Wincanton Creative Print Limited (previously Stevens Boxes Limited) Unit 4 Barton View Business Park, Sheeplands Lane, Sherborne, Dorset, DR9 4FW The principal activity of Wincanton Creative Print Limited is that of printing and publishing Ordinary 100.00% 100.00%
Wells Creative Limited Unit 4 Barton View Business Park, Sheeplands Lane, Sherborne, Dorset, DR9 4FW The principal activity of Wells Creative Limited is that of printing and publishing Ordinary 100.00% 0.00%

6. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 37,265 440
Accrued income 48,999 0
86,264 440

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 15,203 70
Amounts owed to Group undertakings 112,276 127,235
Other taxation and social security 4,670 2,330
Obligations under finance leases and hire purchase contracts (secured) 96,720 83,070
Other creditors 9,240 1,680
238,109 214,385

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 230,165 295,002

The hire purchase contracts are secured on the assets concerned, which are included within plant and machinery. The total net book value of the assets held on hire purchase is £517,547 (2023 - £601,368).

9. Provision for liabilities

2024 2023
£ £
Deferred tax 109,575 75,733