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Registration number: 10371853

Rempstone White Lion Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Rempstone White Lion Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Rempstone White Lion Limited

Company Information

Directors

Mr Neil Michael Swift

Mr Peter Saunders

Mr Russell Pytches

Mr Neil Henfrey

Registered office

Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

Accountants

Evolve Accountants and Business Advisors Limited
Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

 

Rempstone White Lion Limited

(Registration number: 10371853)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

289,970

289,680

Current assets

 

Stocks

5

6,280

6,010

Cash at bank and in hand

 

27,826

21,121

 

34,106

27,131

Prepayments and accrued income

 

171

1,972

Creditors: Amounts falling due within one year

(40,108)

(51,899)

Net current liabilities

 

(5,831)

(22,796)

Total assets less current liabilities

 

284,139

266,884

Creditors: Amounts falling due after more than one year

(15,000)

(15,000)

Provisions for liabilities

(29,892)

(30,537)

Accruals and deferred income

 

(2,924)

-

Net assets

 

236,323

221,347

Capital and reserves

 

Called up share capital

120,000

120,000

Revaluation reserve

130,182

130,182

Retained earnings

(13,859)

(28,835)

Shareholders' funds

 

236,323

221,347

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

 

Rempstone White Lion Limited

(Registration number: 10371853)
Abridged Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 18 April 2025 and signed on its behalf by:
 

.........................................
Mr Neil Henfrey
Director

 

Rempstone White Lion Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 10 Phoenix Park
Stephenson Industrial Estate
Telford Way
Coalville
Leicestershire
LE67 3HB

These financial statements were authorised for issue by the Board on 18 April 2025.

2

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Rempstone White Lion Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% - 25% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Rempstone White Lion Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2023 - 10).

 

Rempstone White Lion Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 October 2023

280,596

24,777

305,373

Additions

-

2,850

2,850

At 30 September 2024

280,596

27,627

308,223

Depreciation

At 1 October 2023

-

15,693

15,693

Charge for the year

-

2,560

2,560

At 30 September 2024

-

18,253

18,253

Carrying amount

At 30 September 2024

280,596

9,374

289,970

At 30 September 2023

280,596

9,084

289,680

Included within the net book value of land and buildings above is £280,596 (2023 - £280,596) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

6,280

6,010

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.