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REGISTERED NUMBER: 02461738 (England and Wales)















B.V. REES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

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


B.V. REES LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mr E W Rees
Mrs K L Rees
Mr G I Rees





SECRETARY: Mr J M Davies





REGISTERED OFFICE: Abbey Garage
St Dogmaels
Cardigan
Ceredigion
SA43 3DX





REGISTERED NUMBER: 02461738 (England and Wales)





ACCOUNTANTS: D M B Davies Limited
Broyan House
Priory Street
Cardigan
Ceredigion
SA43 1BZ

B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 305,291 375,257

CURRENT ASSETS
Stocks 1,808,015 1,358,836
Debtors 5 687,946 292,566
Cash at bank and in hand 3,625,205 3,594,342
6,121,166 5,245,744
CREDITORS
Amounts falling due within one year 6 1,209,407 709,623
NET CURRENT ASSETS 4,911,759 4,536,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,217,050

4,911,378

PROVISIONS FOR LIABILITIES 36,398 32,159
NET ASSETS 5,180,652 4,879,219

CAPITAL AND RESERVES
Called up share capital 23,000 23,000
Retained earnings 5,157,652 4,856,219
SHAREHOLDERS' FUNDS 5,180,652 4,879,219

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 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.

B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





Mr E W Rees - Director


B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024


1. STATUTORY INFORMATION

B.V. Rees 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 20 years
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 966,498 306,394 151,611
Additions - 3,056 -
At 31 March 2024 966,498 309,450 151,611
DEPRECIATION
At 1 April 2023 761,036 243,277 52,550
Charge for year 46,333 9,926 14,859
At 31 March 2024 807,369 253,203 67,409
NET BOOK VALUE
At 31 March 2024 159,129 56,247 84,202
At 31 March 2023 205,462 63,117 99,061

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 50,026 12,342 1,486,871
Additions - - 3,056
At 31 March 2024 50,026 12,342 1,489,927
DEPRECIATION
At 1 April 2023 49,031 5,720 1,111,614
Charge for year 249 1,655 73,022
At 31 March 2024 49,280 7,375 1,184,636
NET BOOK VALUE
At 31 March 2024 746 4,967 305,291
At 31 March 2023 995 6,622 375,257

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 644,354 239,872
Other debtors 43,592 52,694
687,946 292,566

B.V. REES LIMITED (REGISTERED NUMBER: 02461738)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 968,765 364,171
Taxation and social security 151,481 95,090
Other creditors 89,161 250,362
1,209,407 709,623

7. RELATED PARTY DISCLOSURES

There were no other material related party transactions during the year.

8. ULTIMATE CONTROLLING PARTY



Control of the Company is exercised by Mr & Mrs EW Rees who own all of the issued share capital of the Company.