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REGISTERED NUMBER: 07852190 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Reliable Source Limited

Reliable Source Limited (Registered number: 07852190)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reliable Source Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: J Centanni
Mrs R Centanni





SECRETARY: Mrs R Centanni





REGISTERED OFFICE: 1 High Street
Chislehurst
Kent
BR7 5AB





REGISTERED NUMBER: 07852190 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Reliable Source Limited (Registered number: 07852190)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 15,225 16,362
Tangible assets 5 161,766 208,594
176,991 224,956

CURRENT ASSETS
Stocks 680,341 596,797
Debtors 6 509,922 469,189
Cash at bank 27,946 22,290
1,218,209 1,088,276
CREDITORS
Amounts falling due within one year 7 (1,131,682 ) (1,027,880 )
NET CURRENT ASSETS 86,527 60,396
TOTAL ASSETS LESS CURRENT
LIABILITIES

263,518

285,352

CREDITORS
Amounts falling due after more than one year 8 (98,142 ) (164,062 )
NET ASSETS 165,376 121,290

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 165,276 121,190
SHAREHOLDERS' FUNDS 165,376 121,290

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

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

Reliable Source Limited (Registered number: 07852190)

Balance Sheet - continued
31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





J Centanni - Director


Reliable Source Limited (Registered number: 07852190)

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

1. STATUTORY INFORMATION

Reliable Source 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 6 ) .

Reliable Source Limited (Registered number: 07852190)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 17,500
AMORTISATION
At 1 February 2023 1,138
Charge for year 1,137
At 31 January 2024 2,275
NET BOOK VALUE
At 31 January 2024 15,225
At 31 January 2023 16,362

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 359,302
Disposals (26,970 )
At 31 January 2024 332,332
DEPRECIATION
At 1 February 2023 150,708
Charge for year 27,441
Eliminated on disposal (7,583 )
At 31 January 2024 170,566
NET BOOK VALUE
At 31 January 2024 161,766
At 31 January 2023 208,594

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 468,718 425,365
Other debtors 41,204 43,824
509,922 469,189

Reliable Source Limited (Registered number: 07852190)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 406,635 259,752
Hire purchase contracts 16,471 15,588
Trade creditors 435,848 588,627
Taxation and social security 51,906 26,095
Other creditors 220,822 137,818
1,131,682 1,027,880

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 34,042
Hire purchase contracts 98,142 130,020
98,142 164,062