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Logo On Report
Registered Number: 03697043
England and Wales

 

 

 

REFLEX WALES LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 February 2024

End date: 31 January 2025
Report to the directors on the preparation of the unaudited statutory accounts of Reflex Wales Limited for the year ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reflex Wales Limited for the year ended 31 January 2025 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of Reflex Wales Limited, as a body, in accordance with the terms of our engagement letter dated 29 June 2018 Our work has been undertaken solely to prepare for your approval the accounts of Reflex Wales Limited and state those matters that we have agreed to state to the Board of Directors of Reflex Wales Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reflex Wales Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Reflex Wales Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Reflex Wales Limited. You consider that Reflex Wales Limited is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of Reflex Wales Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
31 January 2025



....................................................
JLS & Co Accountants Limited
112 Gilfach Street
BARGOED
CF81 8LQ
10 April 2025
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 4 256,035    246,343 
256,035    246,343 
Current assets      
Stocks 27,000    25,000 
Debtors 2,566    2,442 
Cash at bank and in hand 458,325    549,820 
487,891    577,262 
Creditors: amount falling due within one year (67,357)   (82,105)
Net current assets 420,534    495,157 
 
Total assets less current liabilities 676,569    741,500 
Provisions for liabilities (2,430)   (1,118)
Net assets 674,139    740,382 
 

Capital and reserves
     
Called up share capital 5 4    4 
Profit and loss account 674,135    740,378 
Shareholders' funds 674,139    740,382 
 


For the year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 10 April 2025 and were signed on its behalf by:


-------------------------------
Carl Morse
Director
2
General Information
Reflex Wales Limited is a private company, limited by shares, registered in England and Wales, registration number 03697043, registration address 14 Hanbury Road, BARGOED, CF81 8QS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. The building cost included in Land & Buildings is £80,000 and is depreciated over 25 years. Depreciation is also provided on other assets at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings 4% Straight Line
Plant and Machinery 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 11 (2024 : 11).
3.

Guarantees and other financial commitments

Lease commitments

At 31 January 2025 the company had annual commitments under non-cancellable operating leases of £15,487 (2024 £13,052).



4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 February 2024 180,000    149,088    83,295    29,449    5,285    447,117 
Additions   35,865        1,083    36,948 
Disposals         (3,979)   (3,979)
At 31 January 2025 180,000    184,953    83,295    29,449    2,389    480,086 
Depreciation
At 01 February 2024 16,000    129,021    26,696    24,643    4,414    200,774 
Charge for year 3,200    8,389    14,150    721    795    27,255 
On disposals         (3,978)   (3,978)
At 31 January 2025 19,200    137,410    40,846    25,364    1,231    224,051 
Net book values
Closing balance as at 31 January 2025 160,800    47,543    42,449    4,085    1,158    256,035 
Opening balance as at 01 February 2024 164,000    20,067    56,599    4,806    871    246,343 


5.

Share Capital

Allotted, called up and fully paid
2025
£
  2024
£
4 Class A shares of £1.00 each  
 

3