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Company Registration No. 13333709 (England and Wales)
Rea's Place Limited Unaudited accounts for the year ended 31 March 2024
Rea's Place Limited Unaudited accounts Contents
Page
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Rea's Place Limited Company Information for the year ended 31 March 2024
Directors
Jehona Tmava Avni Sopa
Company Number
13333709 (England and Wales)
Registered Office
Rea's Place 33 Hodford Road London NW11 8NL ENGLAND
Accountants
Solid Ltd Eagle House 163 City Road London EC1V 1NR
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Rea's Place Limited Accountants' report
Accountants' report to the board of directors of Rea's Place Limited on the preparation of the unaudited statutory accounts for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Rea's Place Limited for the year ended 31 March 2024 as set out on pages 5 - 8 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's Place Limited, as a body, in accordance with the terms of our engagement letter dated 14 April 2021. Our work has been undertaken solely to prepare for your approval the accounts of Rea's Place 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's Place Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Rea's Place 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's Place Limited. You consider that Rea's Place Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Rea's Place 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.
Solid Ltd Eagle House 163 City Road London EC1V 1NR 11 November 2024
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Rea's Place Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
7,463 
10,907 
Tangible assets
5,213 
9,030 
12,676 
19,937 
Current assets
Inventories
3,900 
4,250 
Debtors
105 
2,500 
Cash at bank and in hand
11,354 
3,448 
15,359 
10,198 
Creditors: amounts falling due within one year
(18,307)
(26,207)
Net current liabilities
(2,948)
(16,009)
Net assets
9,728 
3,928 
Capital and reserves
Called up share capital
100 
100 
Share premium
9,057 
9,057 
Profit and loss account
571 
(5,229)
Shareholders' funds
9,728 
3,928 
For the year ending 31 March 2024 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 directors acknowledge their 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 of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by
Avni Sopa Director Company Registration No. 13333709
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Rea's Place Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Rea's Place Limited is a private company, limited by shares, registered in England and Wales, registration number 13333709. The registered office is Rea's Place 33, Hodford Road , London, NW11 8NL, 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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Fixtures & fittings
25% Straight Line
Business valuation and Goodwill
The business valuation has been done when transferring goodwill on incorporation. Goodwill is valued by using Turnover approach and a multiplier based on factors such as levels of business growth and profitability in the Unlicensed restaurants and cafes industry. Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised on a systematic basis over its useful life of 5 years.
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Rea's Place Limited Notes to the Accounts for the year ended 31 March 2024
Cash and cash equivalents
Cash and cash equivalents are basic financial instruments 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 current liabilities.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
17,222 
At 31 March 2024
17,222 
Amortisation
At 1 April 2023
6,315 
Charge for the year
3,444 
At 31 March 2024
9,759 
Net book value
At 31 March 2024
7,463 
At 31 March 2023
10,907 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
7,235 
8,858 
16,093 
Additions
126 
96 
222 
At 31 March 2024
7,361 
8,954 
16,315 
Depreciation
At 1 April 2023
3,201 
3,862 
7,063 
Charge for the year
1,821 
2,218 
4,039 
At 31 March 2024
5,022 
6,080 
11,102 
Net book value
At 31 March 2024
2,339 
2,874 
5,213 
At 31 March 2023
4,034 
4,996 
9,030 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
105 
2,500 
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Rea's Place Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
2,955 
3,214 
Trade creditors
948 
879 
Taxes and social security
4,122 
431 
Other creditors
2,790 
1,436 
Loans from directors
7,492 
19,176 
Accruals
- 
1,071 
18,307 
26,207 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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