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REGISTERED NUMBER: 12841978 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Reference Limited

Reference Limited (Registered number: 12841978)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Reference Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: T J Robinson
J Freud





REGISTERED OFFICE: 180 The Strand
London
WC2R 1EA





REGISTERED NUMBER: 12841978 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Reference Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reference Limited for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Reference Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Reference Limited and state those matters that we have agreed to state to the Board of Directors of Reference Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reference Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Reference Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Reference Limited. You consider that Reference 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 financial statements of Reference 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 financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


13 November 2024

Reference Limited (Registered number: 12841978)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 667 1,067
Tangible assets 5 36,484 35,792
37,151 36,859

CURRENT ASSETS
Stocks 36,573 15,993
Debtors 6 12,471 10,551
Cash at bank 34,740 6,485
83,784 33,029
CREDITORS
Amounts falling due within one year 7 28,154 28,757
NET CURRENT ASSETS 55,630 4,272
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,781

41,131

CREDITORS
Amounts falling due after more than one
year

8

(163,974

)

(163,974

)

PROVISIONS FOR LIABILITIES (7,059 ) (7,003 )
NET LIABILITIES (78,252 ) (129,846 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (78,254 ) (129,848 )
SHAREHOLDERS' FUNDS (78,252 ) (129,846 )

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 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.

Reference Limited (Registered number: 12841978)

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 Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:




T J Robinson - Director



J Freud - Director


Reference Limited (Registered number: 12841978)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Reference 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 accounts are prepared on a going concern basis which assumes that the two Joint venture shareholders will continue to support the Company. If this support was not to continue then the basis may not be appropriate.

Should the Company then not be able to continue trading, adjustments to the value of assets would be needed to provide for any further liabilities which may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

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.

Computer software is being amortised evenly over its 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 - 33% on cost
Fixtures and fittings - 33% on cost
Books - not provided

Books are not depreciated as the value of the items is not estimated to decrease due to being rare and antique books. Regular impairment reviews are undertaken. The company capitalise all assets with a value of £500 or more. Items less than this are charged through the income statement.

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

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.


Reference Limited (Registered number: 12841978)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 1,200
AMORTISATION
At 1 March 2023 133
Charge for year 400
At 29 February 2024 533
NET BOOK VALUE
At 29 February 2024 667
At 28 February 2023 1,067

Reference Limited (Registered number: 12841978)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Books Totals
£    £    £    £   
COST
At 1 March 2023 3,208 416 34,596 38,220
Additions - 1,897 - 1,897
At 29 February 2024 3,208 2,313 34,596 40,117
DEPRECIATION
At 1 March 2023 2,151 277 - 2,428
Charge for year 764 441 - 1,205
At 29 February 2024 2,915 718 - 3,633
NET BOOK VALUE
At 29 February 2024 293 1,595 34,596 36,484
At 28 February 2023 1,057 139 34,596 35,792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,855 2,094
Other debtors 10,616 8,457
12,471 10,551

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,582 15,675
VAT 4,177 1,981
Other creditors 677 677
Accrued expenses 13,718 10,424
28,154 28,757

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to joint ventures 163,974 163,974

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY

No one entity controls the company.