Company Registration No. 12968587 (England and Wales)
REMG Ltd
Unaudited accounts
for the year ended 31 October 2024
REMG Ltd
Unaudited accounts
Contents
REMG Ltd
Company Information
for the year ended 31 October 2024
Director
Remigijus Grigaliunas
Company Number
12968587 (England and Wales)
Registered Office
42 WESTMOUNT AVENUE
CHATHAM
ME4 6DB
ENGLAND
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
REMG Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
6,498
7,244
Cash at bank and in hand
150,410
146,332
Creditors: amounts falling due within one year
(25,843)
(31,287)
Net current assets
130,159
119,498
Net assets
136,657
126,742
Called up share capital
6
6
Profit and loss account
136,651
126,736
Shareholders' funds
136,657
126,742
For the year ending 31 October 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 November 2024 and were signed on its behalf by
Remigijus Grigaliunas
Director
Company Registration No. 12968587
REMG Ltd
Notes to the Accounts
for the year ended 31 October 2024
REMG Ltd is a private company, limited by shares, registered in England and Wales, registration number 12968587. The registered office is 42 WESTMOUNT AVENUE, CHATHAM, ME4 6DB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
REMG Ltd
Notes to the Accounts
for the year ended 31 October 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2023
4,180
9,112
13,292
At 31 October 2024
3,757
11,026
14,783
At 1 November 2023
2,188
3,860
6,048
Charge for the year
833
1,791
2,624
At 31 October 2024
2,634
5,651
8,285
At 31 October 2024
1,123
5,375
6,498
At 31 October 2023
1,992
5,252
7,244
Amounts falling due within one year
Accrued income and prepayments
2,292
1,100
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
349
Taxes and social security
19,049
22,735
Loans from directors
(955)
-
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6
6
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).