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REGISTERED NUMBER: 07630675 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Reel Networks Limited

Reel Networks Limited (Registered number: 07630675)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Reel Networks Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: L Pinder





REGISTERED OFFICE: 14 The Oaks
Clews Road
Redditch
Worcestershire
B98 7ST





REGISTERED NUMBER: 07630675 (England and Wales)





ACCOUNTANTS: Davies Archytas Accountants Ltd
14 The Oaks
Clews Road
Redditch
Worcestershire
B98 7ST

Reel Networks Limited (Registered number: 07630675)

Abridged Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 77,516 51,884

CURRENT ASSETS
Stocks 11,050 10,774
Debtors 74,368 58,440
Cash at bank 11,450 32,190
96,868 101,404
CREDITORS
Amounts falling due within one year 86,141 68,778
NET CURRENT ASSETS 10,727 32,626
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,243

84,510

CREDITORS
Amounts falling due after more than one
year

66,718

37,821
NET ASSETS 21,525 46,689

CAPITAL AND RESERVES
Called up share capital 6 100 100
Retained earnings 21,425 46,589
SHAREHOLDERS' FUNDS 21,525 46,689

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Reel Networks Limited (Registered number: 07630675)

Abridged Statement of Financial Position - continued
31 May 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2025 and were signed by:





L Pinder - Director


Reel Networks Limited (Registered number: 07630675)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Reel Networks Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Reel Networks Limited (Registered number: 07630675)

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

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 111,055
Additions 49,995
At 31 May 2024 161,050
DEPRECIATION
At 1 June 2023 59,171
Charge for year 24,363
At 31 May 2024 83,534
NET BOOK VALUE
At 31 May 2024 77,516
At 31 May 2023 51,884

5. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,907 10,907

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,910 10,907

Amounts falling due between two and five years:
Bank loans - 2-5 years 2,009 12,915

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

Reel Networks Limited (Registered number: 07630675)

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

7. ULTIMATE CONTROLLING PARTY

During the financial year the controlling party was the director by virtue of his 100% holding of the issued share capital.