IRIS Accounts Production v24.3.0.553 02539281 director 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model Ordinary 1.00000 Ordinary 'A' 1.00000 Ordinary 'B' 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh025392812023-03-31025392812024-03-31025392812023-04-012024-03-31025392812022-03-31025392812022-04-012023-03-31025392812023-03-3102539281ns15:EnglandWales2023-04-012024-03-3102539281ns14:PoundSterling2023-04-012024-03-3102539281ns10:Director12023-04-012024-03-3102539281ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3102539281ns10:SmallEntities2023-04-012024-03-3102539281ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3102539281ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3102539281ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102539281ns10:FullAccounts2023-04-012024-03-3102539281ns10:OrdinaryShareClass12023-04-012024-03-3102539281ns10:OrdinaryShareClass22023-04-012024-03-3102539281ns10:OrdinaryShareClass32023-04-012024-03-3102539281ns10:RegisteredOffice2023-04-012024-03-3102539281ns5:CurrentFinancialInstruments2024-03-3102539281ns5:CurrentFinancialInstruments2023-03-3102539281ns5:ShareCapital2024-03-3102539281ns5:ShareCapital2023-03-3102539281ns5:RetainedEarningsAccumulatedLosses2024-03-3102539281ns5:RetainedEarningsAccumulatedLosses2023-03-3102539281ns5:LongLeaseholdAssetsns5:LandBuildings2023-04-012024-03-3102539281ns5:LandBuildings2023-03-3102539281ns5:LandBuildings2024-03-3102539281ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3102539281ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3102539281ns10:OrdinaryShareClass12024-03-3102539281ns10:OrdinaryShareClass22024-03-3102539281ns10:OrdinaryShareClass32024-03-31025392811ns10:Director12023-03-31025392811ns10:Director12022-03-31025392811ns10:Director12023-04-012024-03-31025392811ns10:Director12022-04-012023-03-31025392811ns10:Director12024-03-31025392811ns10:Director12023-03-31
REGISTERED NUMBER: 02539281 (England and Wales)















REYNOLDS INDUSTRIAL SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REYNOLDS INDUSTRIAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs S H Reynolds





REGISTERED OFFICE: Unit 20
Jupiter Business Park
Hixon
Stafford
ST18 0PF





REGISTERED NUMBER: 02539281 (England and Wales)

REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 190,000 190,000
190,000 190,000

CURRENT ASSETS
Debtors 6 240,967 337,348
Cash at bank and in hand 388,066 310,968
629,033 648,316
CREDITORS
Amounts falling due within one year 7 (4,290 ) (23,367 )
NET CURRENT ASSETS 624,743 624,949
TOTAL ASSETS LESS CURRENT LIABILITIES 814,743 814,949

CAPITAL AND RESERVES
Called up share capital 8 103 103
Retained earnings 814,640 814,846
SHAREHOLDERS' FUNDS 814,743 814,949

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 director acknowledges her 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.

REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

BALANCE SHEET - continued
31 MARCH 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2024 and were signed by:





Mrs S H Reynolds - Director


REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Reynolds Industrial Services 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.

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

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services
When the outcome of a transaction can be estimated reliably, turnover from the design and manufacture, and installation and commissioning of gas burners and associated control equipment is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to chargeable hours undertaken.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Rental income
Rental income from operating leases net of any incentives given to the lessee is recognised on a straight-line basis over the lease term.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over the period of the lease

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

In the opinion of the directors the investment property is included at an amount that accords to its fair value at the balance sheet date.


REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Leases
Assets acquired under hire purchase contracts are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. The related obligations, net of future finance charges, are included in creditors.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 April 2023
and 31 March 2024 37,894
DEPRECIATION
At 1 April 2023
and 31 March 2024 37,894
NET BOOK VALUE
At 31 March 2024 -

REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 190,000
NET BOOK VALUE
At 31 March 2024 190,000
At 31 March 2023 190,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 13,112
Other debtors 67,989 151,258
Directors' loan accounts 130,544 130,544
Tax 42,434 42,434
240,967 337,348

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 2,190 11,519
VAT - 7,848
Accruals and deferred income 2,100 4,000
4,290 23,367

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
2 Ordinary 'A' £1 2 2
1 Ordinary 'B' £1 1 1
103 103

REYNOLDS INDUSTRIAL SERVICES LIMITED (REGISTERED NUMBER: 02539281)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs S H Reynolds
Balance outstanding at start of year 130,544 130,544
Amounts advanced 9,541 -
Amounts repaid (9,541 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 130,544 130,544

Interest of 2.25% (2023 : 2%) has been charged on the director's loan, the loan is repayable on demand.