3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,971 8,921 1,513 10,434 4,537 6,050 xbrli:pure xbrli:shares iso4217:GBP 03369384 2024-01-01 2024-12-31 03369384 2024-12-31 03369384 2023-12-31 03369384 2023-01-01 2023-12-31 03369384 2023-12-31 03369384 2022-12-31 03369384 core:PlantMachinery 2024-01-01 2024-12-31 03369384 bus:Director1 2024-01-01 2024-12-31 03369384 core:PlantMachinery 2023-12-31 03369384 core:PlantMachinery 2024-12-31 03369384 core:WithinOneYear 2024-12-31 03369384 core:WithinOneYear 2023-12-31 03369384 core:ShareCapital 2024-12-31 03369384 core:ShareCapital 2023-12-31 03369384 core:RetainedEarningsAccumulatedLosses 2024-12-31 03369384 core:RetainedEarningsAccumulatedLosses 2023-12-31 03369384 core:PlantMachinery 2023-12-31 03369384 bus:SmallEntities 2024-01-01 2024-12-31 03369384 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 03369384 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 03369384 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03369384 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 03369384
Reggiana Import Ltd
Unaudited financial statements
31 December 2024
Reggiana Import Ltd
Statement of financial position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
4,537
6,050
Current assets
Stocks
227,830
284,892
Debtors
6
465,691
447,655
Cash at bank and in hand
14,148
20,843
---------
---------
707,669
753,390
Creditors: Amounts falling due within one year
7
( 154,878)
( 197,821)
---------
---------
Net current assets
552,791
555,569
---------
---------
Total assets less current liabilities
557,328
561,619
Provisions
Taxation including deferred tax
1,037
( 36)
---------
---------
Net assets
558,365
561,583
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
558,265
561,483
---------
---------
Shareholder funds
558,365
561,583
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has 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 Act with respect to accounting records and the preparation of financial statements .
Reggiana Import Ltd
Statement of financial position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
G E Miles
Director
Company registration number: 03369384
Reggiana Import Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor Suite, 2 Hillside Business Park, Bury St Edmunds, Suffolk, IP32 7EA. The trading address of the company is Unit 60 Lancaster Way, Lancaster Way Business Park, Ely, Cambridgeshire, CB7 4EG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Average number of employees
The average number of employees during the year was 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 January 2024 and 31 December 2024
14,971
14,971
-------
-------
Depreciation
At 1 January 2024
8,921
8,921
Charge for the year
1,513
1,513
-------
-------
At 31 December 2024
10,434
10,434
-------
-------
Carrying amount
At 31 December 2024
4,537
4,537
-------
-------
At 31 December 2023
6,050
6,050
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
36,196
22,244
Other debtors
429,495
425,411
---------
---------
465,691
447,655
---------
---------
7. Creditors: Amounts falling due within one year
2024
2023
£
£
Trade creditors
122,150
184,686
Social security and other taxes
9,078
9,685
Other creditors
23,650
3,450
---------
---------
154,878
197,821
---------
---------