Registered number
06951019
Rey Sub Limited
Filleted Accounts
30 June 2024
Rey Sub Limited
Registered number: 06951019
Balance Sheet
as at 30 June 2024
Notes 2024 2022
£ £
Fixed assets
Intangible assets 3 568,046 568,046
Tangible assets 4 267,038 199,753
835,084 767,799
Current assets
Stock 44,645 43,169
Debtors 5 412,118 382,364
Cash at bank and in hand 23,825 35,320
480,588 460,853
Creditors: amounts falling due within one year 6 (751,473) (744,077)
Net current liabilities (270,885) (283,224)
Total assets less current liabilities 564,199 484,575
Creditors: amounts falling due after more than one year 7 (218,129) (157,520)
Net assets 346,070 327,055
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 345,070 326,055
Shareholders' funds 346,070 327,055
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Rajeev Sharma
Director
Approved by the board on 12 December 2024
Rey Sub Limited
Notes to the Accounts
for the period from 1 January 2023 to 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold property 5% straight line
Plant and machinery 15% reducing balance
Motor vehicle 25% reducing balance
Computer equipment 33.33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 26 32
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 627,546
At 30 June 2024 627,546
Amortisation
At 1 January 2023 59,500
At 30 June 2024 59,500
Net book value
At 30 June 2024 568,046
At 31 December 2022 568,046
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Leasehold property Plant and machinery & motor vehicle Computer equipment Total
£ £ £ £
Cost
At 1 January 2023 45,059 370,591 416 416,066
Additions - 120,546 983 121,529
Disposals - (7,717) - (7,717)
At 30 June 2024 45,059 483,420 1,399 529,878
Depreciation
At 1 January 2023 16,457 199,821 35 216,313
Charge for the period 3,381 44,650 464 48,495
On disposals - (1,968) - (1,968)
At 30 June 2024 19,838 242,503 499 262,840
Net book value
At 30 June 2024 25,221 240,917 900 267,038
At 31 December 2022 28,602 170,770 381 199,753
5 Debtors 2024 2022
£ £
Trade debtors 20,878 4,923
Other debtors 391,240 377,441
412,118 382,364
6 Creditors: amounts falling due within one year 2024 2022
£ £
Bank loans and overdrafts - 201,582
Trade creditors 116,921 66,305
Taxation and social security costs 94,100 77,710
Other creditors 540,452 398,480
751,473 744,077
7 Creditors: amounts falling due after one year 2024 2022
£ £
Bank loans 218,129 157,520
8 Related party note
Mr Rajeev Sharma is director of the company. At the end of the year amount owed by the company to the director is £90,647.70 (2022: £26,031.66).

During the year, the company has declared dividend of £33,000.00 (2022: £0.00).
9 Other information
Rey Sub Limited is a private company limited by shares and incorporated in England. Its registered office is:
58 Chapel Road,
Worthing,
England,
BN11 1BN
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