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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
Page
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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
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Reark Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
888 
2,006 
Investment property
264,960 
264,960 
265,848 
266,966 
Current assets
Debtors
- 
180 
Cash at bank and in hand
7,847 
5,913 
7,847 
6,093 
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
Deferred tax
(436)
(436)
Net liabilities
(14,256)
(14,479)
Capital and reserves
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
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Reark Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Going concern
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:
Fixtures & fittings
33%
Investment property
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 taxation
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.
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Reark Ltd Notes to the Accounts for the year ended 30 April 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 May 2023
5,969 
Additions
413 
At 30 April 2024
6,382 
Depreciation
At 1 May 2023
3,963 
Charge for the year
1,531 
At 30 April 2024
5,494 
Net book value
At 30 April 2024
888 
At 30 April 2023
2,006 
5
Investment property
2024 
£ 
Fair value at 1 May 2023
264,960 
At 30 April 2024
264,960 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
180 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
- 
1,690 
Loans from directors
285,895 
283,792 
Accruals
1,620 
1,620 
287,515 
287,102 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
P Cheung
Amounts owing to Directors
283,792 
2,103 
- 
285,895 
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.
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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).
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