Company registration number 10222339 (England and Wales)
REEVES PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
REEVES PROPERTY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
REEVES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
Company information

Reeves Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 15 Westfield Road, Beckenham, BR3 4EU.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependant upon the continued support truefrom the directors, via the provision of an interest free loan. An undertaking has been given that this facility, will not be sought until such time that retained profits have returned to a surplus.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
3 years straight line
Motor vehicles
4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

REEVES PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

REEVES PROPERTY LTD
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
46,713
59,510
Investment properties
4
1,105,000
1,105,000
1,151,713
1,164,510
Current assets
Debtors
5
167
167
Cash at bank and in hand
49,726
74,892
49,893
75,059
Creditors: amounts falling due within one year
6
(117,965)
(192,962)
Net current liabilities
(68,072)
(117,903)
Total assets less current liabilities
1,083,641
1,046,607
Creditors: amounts falling due after more than one year
7
(855,566)
(861,010)
Provisions for liabilities
(86,196)
(86,196)
Net assets
141,879
99,401
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
8
141,877
99,399
Total equity
141,879
99,401
REEVES PROPERTY LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -

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

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 24 March 2025 and are signed on its behalf by:
Mr P C Reeves
Director
Company Registration No. 10222339
REEVES PROPERTY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -
2
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 and 30 June 2024
68,927
Depreciation and impairment
At 1 July 2023
9,417
Depreciation charged in the year
12,797
At 30 June 2024
22,214
Carrying amount
At 30 June 2024
46,713
At 30 June 2023
59,510
4
Investment property
2024
£
Fair value
At 1 July 2023 and 30 June 2024
1,105,000

Investment property comprises freehold land and buildings. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 June 2024 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
167
167
REEVES PROPERTY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,400
-
0
Other creditors
115,565
192,962
117,965
192,962
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
819,056
819,056
Other creditors
36,510
41,954
855,566
861,010

The long term bank loans are secured against the property to which they relate.

8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
99,399
33,233
Profit for the year
42,478
66,166
At the end of the year
141,877
99,399

Included within profit and loss reserves are non-distributable profits, as set out below:

2024
2023
£
£
Non-distributable profits included above
At the beginning of the year
214,707
204,268
Non distributable profits in the year
-
10,439
At the end of the year
214,707
214,707
Distributable profits
(72,830)
(115,308)
2024-06-302023-07-01false24 March 2025CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr P C ReevesMrs C A ReevesMrs C A Reevesfalsefalse102223392023-07-012024-06-3010222339core:FurnitureFittings2023-07-012024-06-3010222339core:MotorVehicles2023-07-012024-06-30102223392024-06-30102223392023-06-3010222339core:OtherPropertyPlantEquipment2024-06-3010222339core:OtherPropertyPlantEquipment2023-06-3010222339core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3010222339core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3010222339core:Non-currentFinancialInstrumentscore:AfterOneYear2024-06-3010222339core:Non-currentFinancialInstrumentscore:AfterOneYear2023-06-3010222339core:CurrentFinancialInstruments2024-06-3010222339core:CurrentFinancialInstruments2023-06-3010222339core:Non-currentFinancialInstruments2024-06-3010222339core:Non-currentFinancialInstruments2023-06-3010222339core:ShareCapital2024-06-3010222339core:ShareCapital2023-06-3010222339core:RetainedEarningsAccumulatedLosses2024-06-3010222339core:RetainedEarningsAccumulatedLosses2023-06-3010222339core:RetainedEarningsAccumulatedLosses2023-06-3010222339core:RetainedEarningsAccumulatedLosses2022-06-3010222339bus:Director12023-07-012024-06-30102223392022-07-012023-06-3010222339core:OtherPropertyPlantEquipment2023-06-3010222339core:OtherPropertyPlantEquipment2023-07-012024-06-30102223392023-06-3010222339core:WithinOneYear2024-06-3010222339core:WithinOneYear2023-06-3010222339bus:PrivateLimitedCompanyLtd2023-07-012024-06-3010222339bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3010222339bus:FRS1022023-07-012024-06-3010222339bus:AuditExemptWithAccountantsReport2023-07-012024-06-3010222339bus:Director22023-07-012024-06-3010222339bus:CompanySecretary12023-07-012024-06-3010222339bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP