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Company Registration No. 14430234 (England and Wales)
Rea Future Living Limited Unaudited accounts for the period from 19 October 2022 to 31 October 2023
Rea Future Living Limited Unaudited accounts Contents
Page
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Rea Future Living Limited Company Information for the period from 19 October 2022 to 31 October 2023
Director
Michael Anthony Mrowka
Company Number
14430234 (England and Wales)
Registered Office
A and L Suite 1 - 3 Hop Exchange 24 Southwark Street London SE1 1TY England
Accountants
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY
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Rea Future Living Limited Accountants' report
Accountants' report to the director of Rea Future Living Limited on the preparation of the unaudited statutory accounts for the period from 19 October 2022 to 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rea Future Living Limited for the period from 19 October 2022 to 31 October 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Rea Future Living Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Rea Future Living Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rea Future Living Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Rea Future Living Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rea Future Living Limited. You consider that Rea Future Living Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Rea Future Living Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd Suite 1-3 The Hop Exchange 24 Southwark Street London SE1 1TY 16 October 2024
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Rea Future Living Limited Statement of financial position as at 31 October 2023
2023 
Notes
£ 
Current assets
Inventories
417,536 
Debtors
451,456 
Cash at bank and in hand
76,258 
945,250 
Creditors: amounts falling due within one year
(282,365)
Net current assets
662,885 
Total assets less current liabilities
662,885 
Creditors: amounts falling due after more than one year
(522,483)
Net assets
140,402 
Capital and reserves
Profit and loss account
140,402 
Shareholders' funds
140,402 
For the period ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 October 2024 and were signed on its behalf by
Michael Anthony Mrowka Director Company Registration No. 14430234
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Rea Future Living Limited Notes to the Accounts for the period from 19 October 2022 to 31 October 2023
1
Statutory information
Rea Future Living Limited is a private company, limited by shares, registered in England and Wales, registration number 14430234. The registered office is A and L, Suite 1 - 3 Hop Exchange, 24 Southwark Street, London, SE1 1TY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the period from 19 October 2022 to 31 October 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 19 October 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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Rea Future Living Limited Notes to the Accounts for the period from 19 October 2022 to 31 October 2023
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4
Inventories
2023 
£ 
Finished goods
417,536 
417,536 
5
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
233,918 
Accrued income and prepayments
1,005 
234,923 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
216,533 
6
Creditors: amounts falling due within one year
2023 
£ 
VAT
52,521 
Trade creditors
185,452 
Taxes and social security
39,771 
Loans from directors
4,621 
282,365 
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
7
Creditors: amounts falling due after more than one year
2023 
£ 
Amounts owed to group undertakings and other participating interests
522,483 
8
Average number of employees
During the period the average number of employees was 1.
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