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REGISTERED NUMBER: 10212818 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

Reef Properties Limited

Reef Properties Limited (Registered number: 10212818)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Reef Properties Limited

Company Information
For The Year Ended 30 June 2024







DIRECTOR: W Yeoman





REGISTERED OFFICE: 1 Park Place
6 North Road
Poole
Dorset
BH14 0LY





REGISTERED NUMBER: 10212818 (England and Wales)






Reef Properties Limited (Registered number: 10212818)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,826,000 1,826,000

CURRENT ASSETS
Stocks 775,822 1,224,416
Debtors 5 6,055 11,456
Prepayments and accrued income 9,789 4,458
Cash at bank 7,653 7,675
799,319 1,248,005
CREDITORS
Amounts falling due within one year 6 542,439 772,399
NET CURRENT ASSETS 256,880 475,606
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,082,880

2,301,606

CREDITORS
Amounts falling due after more than one
year

7

(577,265

)

(816,513

)

PROVISIONS FOR LIABILITIES (216,168 ) (216,168 )
NET ASSETS 1,289,447 1,268,925

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 1,289,347 1,268,825
1,289,447 1,268,925

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Reef Properties Limited (Registered number: 10212818)

Balance Sheet - continued
30 June 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 director and authorised for issue on 11 March 2025 and were signed by:





W Yeoman - Director


Reef Properties Limited (Registered number: 10212818)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Reef Properties 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 as modified by the revaluation of certain assets.

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

Reef Properties Limited (Registered number: 10212818)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 1,826,000 19,084 1,845,084
DEPRECIATION
At 1 July 2023
and 30 June 2024 - 19,084 19,084
NET BOOK VALUE
At 30 June 2024 1,826,000 - 1,826,000
At 30 June 2023 1,826,000 - 1,826,000

Cost or valuation at 30 June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 1,600,000 19,084 1,619,084
Valuation in 2022 226,000 - 226,000
1,826,000 19,084 1,845,084

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,055 11,456

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 257,242 535,089
Trade creditors 275,373 195,161
Taxation and social security 9,824 42,149
542,439 772,399

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 555,857 593,690
Other creditors 21,408 222,823
577,265 816,513

Reef Properties Limited (Registered number: 10212818)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than
five years by instalments 376,889 396,518
376,889 396,518

8. RESERVES
Retained
earnings
£   

At 1 July 2023 1,268,825
Profit for the year 38,522
Dividends (18,000 )
At 30 June 2024 1,289,347

Reserves includes £921,558 (2023 - £921,558) in respect of the revaluation of leasehold property.