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REGISTERED NUMBER: 06115400 (England and Wales)















REYNOLDS TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


REYNOLDS TRADING LIMITED

COMPANY INFORMATION
For The Year Ended 29 FEBRUARY 2024







DIRECTOR: S J Reynolds





SECRETARY: Mrs N E Reynolds





REGISTERED OFFICE: Willowbrook Garden Centre
Stourbridge Road
Catshill
Bromsgrove
Worcestershire
B61 0BL





REGISTERED NUMBER: 06115400 (England and Wales)





ACCOUNTANTS: Charles Lovell & Co Limited
Chartered Certified Accountants
and Statutory Auditors
8 Church Green East
Redditch
Worcestershire
B98 8BP

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 878,506 798,498
Investment property 6 250,000 250,000
1,128,506 1,048,498

CURRENT ASSETS
Stocks 286,220 273,251
Debtors 7 82,785 6,736
Cash at bank and in hand 203,774 185,238
572,779 465,225
CREDITORS
Amounts falling due within one year 8 469,818 392,076
NET CURRENT ASSETS 102,961 73,149
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,231,467

1,121,647

PROVISIONS FOR LIABILITIES 122,519 68,436
NET ASSETS 1,108,948 1,053,211

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 96,962 101,970
Retained earnings 1,011,886 951,141
SHAREHOLDERS' FUNDS 1,108,948 1,053,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 TRADING LIMITED (REGISTERED NUMBER: 06115400)

BALANCE SHEET - continued
29 FEBRUARY 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 director and authorised for issue on 20 November 2024 and were signed by:





S J Reynolds - Director


REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Reynolds Trading 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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill is the difference between amounts paid on the aquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is being amortised on a straight line basis over 10 years to write off the cost of the intangible fixed asset over the expected useful economic life which has been set with reference to the expected life of the customer base acquired.

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.

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 - 2% on cost
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 64,377
AMORTISATION
At 1 March 2023
and 29 February 2024 64,377
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 528,881 1,050,101 1,578,982
Additions - 248,038 248,038
Disposals - (57,265 ) (57,265 )
At 29 February 2024 528,881 1,240,874 1,769,755
DEPRECIATION
At 1 March 2023 132,198 648,286 780,484
Charge for year 10,578 127,919 138,497
Eliminated on disposal - (27,732 ) (27,732 )
At 29 February 2024 142,776 748,473 891,249
NET BOOK VALUE
At 29 February 2024 386,105 492,401 878,506
At 28 February 2023 396,683 401,815 798,498

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 250,000
NET BOOK VALUE
At 29 February 2024 250,000
At 28 February 2023 250,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2015 42,828
Valuation in 2019 75,000
Cost 132,172
250,000

If investment property had not been revalued it would have been included at the following historical cost:

29.2.24 28.2.23
£    £   
Cost 132,172 132,172
Aggregate depreciation (37,008 ) (34,365 )

Investment property was valued on a fair value basis on 29 February 2024 by S J Reynolds, director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 7,840 3,484
Other debtors 74,945 3,252
82,785 6,736

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 7,655 -
Trade creditors 384,354 309,764
Taxation and social security 65,843 73,702
Other creditors 11,966 8,610
469,818 392,076

REYNOLDS TRADING LIMITED (REGISTERED NUMBER: 06115400)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 FEBRUARY 2024


9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 101,970
Movement for year (5,008 )

At 29 February 2024 96,962

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
S J Reynolds
Balance outstanding at start of year - -
Amounts advanced 73,608 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 73,608 -

11. ULTIMATE CONTROLLING PARTY

The controlling party is S J Reynolds.