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Registered Number: 10961973
England and Wales

 

 

 

REAY SECURITY PROPERTIES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 3,064,599    3,047,726 
3,064,599    3,047,726 
Current assets      
Debtors 4 37,480    750,494 
Cash at bank and in hand 21,681    23,672 
59,161    774,166 
Creditors: amount falling due within one year 5 (487,038)   (1,083,201)
Net current assets (427,877)   (309,035)
 
Total assets less current liabilities 2,636,722    2,738,691 
Creditors: amount falling due after more than one year 6   (1,095,104)
Provisions for liabilities 7 (10,776)   (7,074)
Net assets 2,625,946    1,636,513 
 

Capital and reserves
     
Called up share capital 931,015    931,015 
Profit and loss account 1,694,931    705,498 
Shareholders' funds 2,625,946    1,636,513 
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 14 March 2025 and were signed by:


-------------------------------
Steven Reay
Director
1
General Information
Reay Security Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 10961973, registration address Arms Evertyne House Quay Road, Dun Cow Quay, Blyth, Northumberland, NE24 2AS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the going concern and the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, 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. 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings NIL Straight Line
Plant and Machinery 20% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Preference shares
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the statement of financial position rather than as part of the company's issued share capital.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Total
  £   £   £
At 01 September 2023 3,010,497    145,946    3,156,443 
Additions 11,000    21,215    32,215 
Disposals    
At 31 August 2024 3,021,497    167,161    3,188,658 
Depreciation
At 01 September 2023   108,717    108,717 
Charge for year   15,342    15,342 
On disposals    
At 31 August 2024   124,059    124,059 
Net book values
Closing balance as at 31 August 2024 3,021,497    43,102    3,064,599 
Opening balance as at 01 September 2023 3,010,497    37,229    3,047,726 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 15,773    49,606 
Amount Owed by Group Undertakings   691,199 
Prepayments & Accrued Income 11,044    9,689 
VAT 10,663   
37,480    750,494 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 13,622    4,540 
Bank Loans & Overdrafts   82,768 
Amounts Owed to Group Undertakings - RSL   905,746 
Amounts Owed to Group Undertakings - RSH 420,476   
Corporation Tax 25,357    66,653 
Accrued Expenses 9,006    1,379 
Directors' Current Accounts 18,577    4,518 
VAT   17,597 
487,038    1,083,201 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts   1,095,104 
  1,095,104 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 10,776    7,074 
10,776    7,074 

8.

Financial commitments, guarantees and contingent liabilities

The total amount of guarantees not included in the balance sheet is £Nil (2023 - £373,410). The Company guarantee was given in the form of a debenture to secure the bank borrowings of a fellow group company and was settled on 2 May 2024.
9.

Directors advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £18,577 (2023 - £4,517)

10.

Parent Company

The ultimate parent undertaking incorporated in the United Kingdom is Reay Security Holdings Limited.
2