Company Registration number:
Reel Label Solutions (Holdings) Ltd
for the Year Ended 31 August 2024
Reel Label Solutions (Holdings) Ltd
Contents
Balance Sheet |
|
Notes to the Financial Statements |
Reel Label Solutions (Holdings) Ltd
(Registration number: 13914044)
Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
10,000 |
10,000 |
|
Share premium reserve |
1,695,014 |
1,695,014 |
|
Retained earnings |
283,957 |
39,182 |
|
Shareholders' funds |
1,988,971 |
1,744,196 |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
......................................... |
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
Audit report
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 September 2023 |
|
Provision |
|
Carrying amount |
|
At 31 August 2024 |
|
At 31 August 2023 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
|||
Subsidiary undertakings |
||||
|
Unit 20 East Side Coed Cae Lane, Cambrian Industrial Estate, Pontyclun, Rhondda Cynon Taff, CF72 9EW UK |
|
|
|
Subsidiary undertakings |
Reel Label Solutions Limited The principal activity of Reel Label Solutions Limited is |
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £270,408 (2023 - £194,328). The bank loans and other creditors are secured by way of a fixed and floating charge over the assets of the trading subsidiary.
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
|
Due after one year |
|||
Loans and borrowings |
|
|
|
Other non-current financial liabilities |
|
|
|
|
|
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £819,186 (2023 - £1,281,704). The bank loans and other creditors are secured by way of a fixed and floating charge over the assets of the trading subsidiary.
Creditors include bank loans repayable by instalments of £47,199 (2023 - £310,749) due after more than five years.
Creditors include bank loans not repayable by instalments of £153,093 (2023 - £209,450) due after more than five years.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
7,065 |
|
7,065 |
|
|
2,935 |
|
2,935 |
|
|
|
|
Loans and borrowings |
2024 |
2023 |
|
Non-current loans and borrowings |
||
Bank borrowings |
|
|
Other borrowings |
|
|
|
|
Reel Label Solutions (Holdings) Ltd
Notes to the Financial Statements for the Year Ended 31 August 2024
2024 |
2023 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Other borrowings |
- |
|
|
|
Related party transactions |
The company has taken advantage of the exemption provided by section 33 of FRS 102 from the requirement to disclose transactions between wholly owned members of the same group.
Controlling party