Company Registration No. 11950091 (England and Wales)
Reark Ltd
Unaudited Financial Statements
for the year ended 30 April 2024
Reark Ltd
Unaudited Financial Statements
Contents
Reark Ltd
Company Information
for the year ended 30 April 2024
Directors
P Cheung
C K Lam
Company Number
11950091 (England and Wales)
Registered Office
Unit 1
Monks Pond Street
Northampton
NN1 2LF
Accountants
Adelita Shah Chartered Accountants
Upton Farm Cottage
Upton
Northampton
NN5 4UY
Reark Ltd
Statement of financial position
as at 30 April 2024
Investment property
264,960
264,960
Cash at bank and in hand
7,847
5,913
Creditors: amounts falling due within one year
(287,515)
(287,102)
Net current liabilities
(279,668)
(281,009)
Total assets less current liabilities
(13,820)
(14,043)
Provisions for liabilities
Net liabilities
(14,256)
(14,479)
Called up share capital
100
100
Profit and loss account
(14,356)
(14,579)
Shareholders' funds
(14,256)
(14,479)
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 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 16 January 2025 and were signed on its behalf by
P Cheung
Director
Company Registration No. 11950091
Reark Ltd
Notes to the Accounts
for the year ended 30 April 2024
Reark Ltd is a private company, limited by shares, registered in England and Wales, registration number 11950091. The registered office is Unit 1, Monks Pond Street, Northampton, NN1 2LF.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
The total current assets exceed total current liabilities at year end. It is on this basis that the accounts have been prepared on a going concern basis.
The director remains confident that the turnover will increase in the coming months.
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:
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Reark Ltd
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 May 2023
264,960
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
285,895
283,792
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Amounts owing to Directors
283,792
2,103
-
285,895
The Director, Mr P Cheung maintains a loan account with the company. The balance owed to the Director at the end of the year was £285,895. All loans made to the company are repayable on demand with 0% interest.
Reark Ltd
Notes to the Accounts
for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).