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REGISTERED NUMBER: 09942506 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

Reelskin Ltd

Reelskin Ltd (Registered number: 09942506)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Reelskin Ltd

Company Information
for the Year Ended 31st July 2024







DIRECTORS: S P Fowler
P A Fowler





REGISTERED OFFICE: 2 Blackmore Mead
Ingatestone
Essex
CM4 0SP





REGISTERED NUMBER: 09942506 (England and Wales)





ACCOUNTANTS: Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA

Reelskin Ltd (Registered number: 09942506)

Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 21,359 3,807

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 302,924 254,033
Cash at bank 73,033 55,989
380,957 315,022
CREDITORS
Amounts falling due within one year 6 349,822 255,853
NET CURRENT ASSETS 31,135 59,169
TOTAL ASSETS LESS CURRENT
LIABILITIES

52,494

62,976

CREDITORS
Amounts falling due after more than one
year

7

51,562

62,379
NET ASSETS 932 597

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 931 596
932 597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

Reelskin Ltd (Registered number: 09942506)

Balance Sheet - continued
31st July 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 5th February 2025 and were signed on its behalf by:





P A Fowler - Director


Reelskin Ltd (Registered number: 09942506)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Reelskin Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 going concern basis of accounting is considered to be appropriate as the directors expect to continue to provide adequate funds to enable the company to trade for the foreseeable future.

Turnover
Turnover is measured at fair value of the consideration received or receivable, stated net of discounts and rebates, excluding value added tax and other sales taxes.

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 etc - 25% on cost

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

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.

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 9 (2023 - 1 ) .

Reelskin Ltd (Registered number: 09942506)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st August 2023 7,184
Additions 25,739
At 31st July 2024 32,923
DEPRECIATION
At 1st August 2023 3,377
Charge for year 8,187
At 31st July 2024 11,564
NET BOOK VALUE
At 31st July 2024 21,359
At 31st July 2023 3,807

5. DEBTORS
31.7.24 31.7.23
£ £
Amounts falling due within one year:
Other debtors 13,297 6,900
Director's loan account 216,543 184,772
229,840 191,672

Amounts falling due after more than one year:
Tax 73,084 62,361

Aggregate amounts 302,924 254,033

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Bank loans and overdrafts 7,800 8,011
Other loans 8,252 6,481
Trade creditors 1,638 -
Tax 151,809 108,604
Social security and other taxes 6,475 -
VAT 148,451 123,479
Other creditors 18,124 -
Accrued expenses 7,273 9,278
349,822 255,853

Reelskin Ltd (Registered number: 09942506)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£ £
Bank loans - 1-2 years 13,780 16,346
Other loans - 1-5 years 37,782 46,033
51,562 62,379

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st July 2024 and 31st July 2023:

31.7.24 31.7.23
£ £
S P Fowler and P A Fowler
Balance outstanding at start of year 184,772 109,221
Amounts advanced 31,771 75,551
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 216,543 184,772

9. RELATED PARTY DISCLOSURES

At the year-end, a loan amounting to £46,034 (2023: £52,514) was personally guaranteed by Mr S.P. Fowler, a director of the company..

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Reelskin Ltd

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 Reelskin Ltd for the year ended 31st July 2024 which comprise the Income Statement, Balance Sheet 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 Reelskin Ltd, 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 Reelskin Ltd and state those matters that we have agreed to state to the Board of Directors of Reelskin Ltd, 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 Reelskin Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Reelskin Ltd 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 Reelskin Ltd. You consider that Reelskin Ltd 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 Reelskin Ltd. 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.






Moulton Johnson Limited
Chartered Accountants
29a Crown Street
Brentwood
Essex
CM14 4BA


5th February 2025