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Registered number: 06050513
Reelfix Construction Products Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
S T Hannam FCCA
Association of Chartered Certified Accountants
42 King Georges Road
Bishopsworth
Bristol
BS13 8LX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06050513
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 64,403 5,462
64,403 5,462
CURRENT ASSETS
Stocks 5 63,136 127,299
Debtors 6 182,177 145,764
Cash at bank and in hand 1,256,072 724,710
1,501,385 997,773
Creditors: Amounts Falling Due Within One Year 7 (266,998 ) (160,825 )
NET CURRENT ASSETS (LIABILITIES) 1,234,387 836,948
TOTAL ASSETS LESS CURRENT LIABILITIES 1,298,790 842,410
NET ASSETS 1,298,790 842,410
CAPITAL AND RESERVES
Called up share capital 8 101 101
Share premium account 101 101
Profit and Loss Account 1,298,588 842,208
SHAREHOLDERS' FUNDS 1,298,790 842,410
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Keen
Director
11/12/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Reelfix Construction Products Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06050513 . The registered office is Unit 4 Quadeast, Weston Super Mare, Somerset, BS23 3TR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25%
Motor Vehicles 25%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 1 1
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 May 2023 33,483 - 33,483
Additions 2,283 62,500 64,783
As at 30 April 2024 35,766 62,500 98,266
Depreciation
As at 1 May 2023 28,021 - 28,021
Provided during the period 1,936 3,906 5,842
As at 30 April 2024 29,957 3,906 33,863
Net Book Value
As at 30 April 2024 5,809 58,594 64,403
As at 1 May 2023 5,462 - 5,462
5. Stocks
2024 2023
£ £
Stock 63,136 127,299
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 182,177 145,764
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,899 7,480
Corporation tax 182,624 71,256
Other taxes and social security 1,009 1,113
VAT 75,170 72,817
Net wages - 4,083
Other creditors 182 -
Accruals and deferred income 1,100 1,100
Director's loan account 2,014 2,976
266,998 160,825
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 101 101
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9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 70,000 -
Final dividend paid 80,000 70,000
150,000 70,000
10. Ultimate Controlling Party
The company's ultimate controlling party is M Keen by virtue of his ownership of 100% of the issued voting share capital in the company.
Page 5