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REGISTERED NUMBER: 06370313 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ANGELA REED LIMITED

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ANGELA REED LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: Mrs A. N. Reed





SECRETARY: J. F. Reed





REGISTERED OFFICE: c/o Boots Opticians
20 Talisman Square
Kenilworth
Warwickshire
CV8 1JB





REGISTERED NUMBER: 06370313 (England and Wales)





ACCOUNTANTS: Accura Accountants Ltd
Langley House
Park Road
East Finchley
London
N2 8EY

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

STATEMENT OF FINANCIAL POSITION
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 28,426 3,257
28,427 3,258

CURRENT ASSETS
Stocks 12,500 6,000
Debtors 6 9,167 698
Cash at bank and in hand 1,760,343 1,604,343
1,782,010 1,611,041
CREDITORS
Amounts falling due within one year 7 491,309 468,173
NET CURRENT ASSETS 1,290,701 1,142,868
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,319,128

1,146,126

CREDITORS
Amounts falling due after more than one
year

8

51,617

-
NET ASSETS 1,267,511 1,146,126

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,267,411 1,146,026
1,267,511 1,146,126

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 her 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.

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

STATEMENT OF FINANCIAL POSITION - 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 25 March 2025 and were signed by:





Mrs A. N. Reed - Director


ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Angela Reed 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold - 10% on cost
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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 statement of financial position date.

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1 July 2023
and 30 June 2024 8,920
AMORTISATION
At 1 July 2023
and 30 June 2024 8,919
NET BOOK VALUE
At 30 June 2024 1
At 30 June 2023 1

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and
Leasehold property machinery
£    £    £   
COST
At 1 July 2023 5,325 79,545 7,037
Additions - - 32,585
At 30 June 2024 5,325 79,545 39,622
DEPRECIATION
At 1 July 2023 5,324 79,545 6,069
Charge for year - - 6,795
At 30 June 2024 5,324 79,545 12,864
NET BOOK VALUE
At 30 June 2024 1 - 26,758
At 30 June 2023 1 - 968

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 24,332 8,479 124,718
Additions - - 32,585
At 30 June 2024 24,332 8,479 157,303
DEPRECIATION
At 1 July 2023 22,639 7,884 121,461
Charge for year 424 197 7,416
At 30 June 2024 23,063 8,081 128,877
NET BOOK VALUE
At 30 June 2024 1,269 398 28,426
At 30 June 2023 1,693 595 3,257

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
Additions 31,865
At 30 June 2024 31,865
DEPRECIATION
Charge for year 6,373
At 30 June 2024 6,373
NET BOOK VALUE
At 30 June 2024 25,492

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 698
Other debtors 9,167 -
9,167 698

Included within other debtors are prepayments of £3,273 (2023: £Nil).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 15,108 -
Trade creditors 42,987 65,441
Taxation and social security 39,562 39,487
Other creditors 393,652 363,245
491,309 468,173

Included within other creditors are accrued expenses of £10,244 (2023: £11,231)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 51,617 -

9. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £100,500 (2023: £117,250) (over the next 6 years)

ANGELA REED LIMITED (REGISTERED NUMBER: 06370313)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

10. RELATED PARTY DISCLOSURES

Included in other creditors due within one year is £375,654 (2023: £350,672) owed to the director. This amount has been provided to the company on an interest free basis and it is repayable on demand.