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Registered number: 08625393
Rea Software Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Edmonds Accountancy
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08625393
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,513 27,450
21,513 27,450
CURRENT ASSETS
Debtors 5 4,092 93
Cash at bank and in hand 168,505 193,389
172,597 193,482
Creditors: Amounts Falling Due Within One Year 6 (660 ) (15,799 )
NET CURRENT ASSETS (LIABILITIES) 171,937 177,683
TOTAL ASSETS LESS CURRENT LIABILITIES 193,450 205,133
NET ASSETS 193,450 205,133
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 193,448 205,131
SHAREHOLDERS' FUNDS 193,450 205,133
Page 1
Page 2
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Lindsay Rea
Director
25/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Rea Software Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08625393 . The registered office is Nuholme, Sherfield Road, Bramley, Tadley, Hampshire, RG26 5AG.
2. Accounting Policies
2.1. Basis of Preparation of 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.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.
Revenue is recognised for the provision of services as the contractual activity progresses.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained
Earnings, 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 31,000 1,226 2,405 34,631
Additions - - 184 184
As at 31 July 2024 31,000 1,226 2,589 34,815
Depreciation
As at 1 August 2023 4,650 692 1,839 7,181
Provided during the period 5,270 245 606 6,121
As at 31 July 2024 9,920 937 2,445 13,302
Net Book Value
As at 31 July 2024 21,080 289 144 21,513
As at 1 August 2023 26,350 534 566 27,450
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5. Debtors
2024 2023
£ £
Due within one year
Other debtors 4,092 93
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors - 15,606
Taxation and social security 660 193
660 15,799
7. Deferred Taxation
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.
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Lindsay Rea (1,951 ) 33,673 (26,712 ) - 5,010
Mrs Emma Rea (13,655 ) - 13,655 - -
The above loan is unsecured, interest free and repayable on demand.
Page 4