Company registration number 06037595 (England and Wales)
REYNOLDS PLACE LIMITED
Unaudited Financial Statements
For The Year Ended 31 May 2024
Pages For Filing With Registrar
Reynolds Place Limited
REYNOLDS PLACE LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 4
Reynolds Place Limited
REYNOLDS PLACE LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Reynolds Place Limited For The Year Ended 31 May 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Reynolds Place Limited for the year ended 31 May 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Reynolds Place Limited, as a body, in accordance with the terms of our engagement letter dated 4 December 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Reynolds Place Limited and state those matters that we have agreed to state to the board of directors of Reynolds Place Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reynolds Place Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Reynolds Place Limited 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 Reynolds Place Limited. You consider that Reynolds Place Limited 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 Reynolds Place Limited. 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.

Chavereys Limited
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
25 February 2025
Reynolds Place Limited
REYNOLDS PLACE LIMITED
Balance Sheet
As At 31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
2,763,643
2,506,683
Current assets
-
-
Creditors: amounts falling due within one year
5
(20,612)
(38,790)
Net current liabilities
(20,612)
(38,790)
Net assets
2,743,031
2,467,893
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss reserves
2,643,031
2,367,893
Total equity
2,743,031
2,467,893

For the financial year ended 31 May 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 February 2025 and are signed on its behalf by:
Mrs TJ Hazard
Director
Company registration number 06037595 (England and Wales)
Reynolds Place Limited
REYNOLDS PLACE LIMITED
Notes To The Financial Statements
For The Year Ended 31 May 2024
- 3 -
1
Accounting policies
Company information

Reynolds Place Limited is a private company limited by shares incorporated in England and Wales. The registered office is Reynolds Place, Nargate Street, Littlebourne, Canterbury, Kent, England, CT3 1QJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.3
Fixed asset investments

Partnership capital represents the company's interest in an unincorporated farming partnership.

1.4
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
Reynolds Place Limited
REYNOLDS PLACE LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 May 2024
- 4 -
4
Fixed asset investments
2024
2023
£
£
Partnership capital
2,763,643
2,506,683
Movements in fixed asset investments
Partnership capital
£
Cost or valuation
At 1 June 2023
2,506,683
Additions
296,005
Withdrawals
(39,045)
At 31 May 2024
2,763,643
Carrying amount
At 31 May 2024
2,763,643
At 31 May 2023
2,506,683
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
18,912
37,140
Other creditors
1,700
1,650
20,612
38,790
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