Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-0934872023-09-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity2322false 10344081 2023-09-01 2024-08-31 10344081 2022-09-01 2023-08-31 10344081 2024-08-31 10344081 2023-08-31 10344081 c:Director1 2023-09-01 2024-08-31 10344081 d:Buildings 2023-09-01 2024-08-31 10344081 d:Buildings 2024-08-31 10344081 d:Buildings 2023-08-31 10344081 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10344081 d:Buildings d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 10344081 d:Buildings d:ShortLeaseholdAssets 2023-09-01 2024-08-31 10344081 d:Buildings d:ShortLeaseholdAssets 2024-08-31 10344081 d:Buildings d:ShortLeaseholdAssets 2023-08-31 10344081 d:PlantMachinery 2023-09-01 2024-08-31 10344081 d:PlantMachinery 2024-08-31 10344081 d:PlantMachinery 2023-08-31 10344081 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10344081 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 10344081 d:MotorVehicles 2023-09-01 2024-08-31 10344081 d:MotorVehicles 2024-08-31 10344081 d:MotorVehicles 2023-08-31 10344081 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10344081 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 10344081 d:OfficeEquipment 2023-09-01 2024-08-31 10344081 d:OfficeEquipment 2024-08-31 10344081 d:OfficeEquipment 2023-08-31 10344081 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10344081 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 10344081 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 10344081 d:LeasedAssetsHeldAsLessee 2023-09-01 2024-08-31 10344081 d:CurrentFinancialInstruments 2024-08-31 10344081 d:CurrentFinancialInstruments 2023-08-31 10344081 d:Non-currentFinancialInstruments 2024-08-31 10344081 d:Non-currentFinancialInstruments 2023-08-31 10344081 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 10344081 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 10344081 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 10344081 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 10344081 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 10344081 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 10344081 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-08-31 10344081 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 10344081 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-08-31 10344081 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 10344081 d:ShareCapital 2024-08-31 10344081 d:ShareCapital 2023-08-31 10344081 d:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 10344081 d:RetainedEarningsAccumulatedLosses 2024-08-31 10344081 d:RetainedEarningsAccumulatedLosses 2023-08-31 10344081 d:AcceleratedTaxDepreciationDeferredTax 2024-08-31 10344081 d:AcceleratedTaxDepreciationDeferredTax 2023-08-31 10344081 c:OrdinaryShareClass1 2023-09-01 2024-08-31 10344081 c:OrdinaryShareClass1 2024-08-31 10344081 c:OrdinaryShareClass1 2023-08-31 10344081 c:OrdinaryShareClass2 2023-09-01 2024-08-31 10344081 c:OrdinaryShareClass2 2024-08-31 10344081 c:OrdinaryShareClass2 2023-08-31 10344081 c:FRS102 2023-09-01 2024-08-31 10344081 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 10344081 c:FullAccounts 2023-09-01 2024-08-31 10344081 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10344081 d:WithinOneYear 2024-08-31 10344081 d:WithinOneYear 2023-08-31 10344081 d:BetweenOneFiveYears 2024-08-31 10344081 d:BetweenOneFiveYears 2023-08-31 10344081 d:HirePurchaseContracts d:WithinOneYear 2024-08-31 10344081 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 10344081 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-08-31 10344081 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 10344081 d:HirePurchaseContracts d:MoreThanFiveYears 2024-08-31 10344081 d:HirePurchaseContracts d:MoreThanFiveYears 2023-08-31 10344081 2 2023-09-01 2024-08-31 10344081 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-08-31 10344081 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-08-31 10344081 d:LeasedAssetsHeldAsLessee 2024-08-31 10344081 d:LeasedAssetsHeldAsLessee 2023-08-31 10344081 e:PoundSterling 2023-09-01 2024-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number:10344081










REECO AUTOMATION LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024


BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,397,277
932,590

  
1,397,277
932,590

Current assets
  

Stocks
 6 
109,099
39,655

Debtors: amounts falling due within one year
 7 
1,123,137
572,910

Cash at bank and in hand
 8 
631,811
387,102

  
1,864,047
999,667

Creditors: amounts falling due within one year
 9 
(1,138,836)
(502,651)

Net current assets
  
 
 
725,211
 
 
497,016

Total assets less current liabilities
  
2,122,488
1,429,606

Creditors: amounts falling due after more than one year
 10 
(535,853)
(196,004)

Provisions for liabilities
  

Deferred tax
 13 
(67,857)
(59,599)

  
 
 
(67,857)
 
 
(59,599)

Net assets
  
1,518,778
1,174,003


Capital and reserves
  

Called up share capital 
 14 
100
100

Profit and loss account
 15 
1,518,678
1,173,903

  
1,518,778
1,174,003



    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 May 2025.




L M Rees
Director

The notes on  form part of these financial statements.



1.


General information

Reeco Automation Limited, 10344081, is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Unit 45, Mochdre Industrial Estate, Newtown, Powys, SY16 4LE.
The company's principal activity during the year was the specialising in robotic integration solutions within manufacturing.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.


 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.


 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the below basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Short-term leasehold property
-
10%
Straight line
Plant and machinery
-
25%
Reducing balance
Motor vehicles
-
25%
Reducing balance
Office equipment
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

The Companies Act 2006 requires tangible fixed assets to be depreciated. Freehold property is not depreciated. The director considers that the property is maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged to profit and loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.


 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 22).



5.


Tangible fixed assets





Freehold property
Tenants improvements
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 September 2023
620,951
34,866
257,630
168,004
41,042
1,122,493


Additions
385,454
-
127,292
70,667
13,986
597,399


Disposals
-
-
(56,162)
(31,000)
(8,468)
(95,630)



At 31 August 2024

1,006,405
34,866
328,760
207,671
46,560
1,624,262



Depreciation


At 1 September 2023
-
21,418
82,243
67,696
18,547
189,904


Charge for the year on owned assets
-
3,487
47,528
20,595
5,258
76,868


Charge for the year on financed assets
-
-
-
8,191
-
8,191


Disposals
-
-
(31,959)
(10,656)
(5,363)
(47,978)



At 31 August 2024

-
24,905
97,812
85,826
18,442
226,985



Net book value



At 31 August 2024
1,006,405
9,961
230,948
121,845
28,118
1,397,277



At 31 August 2023
620,951
13,448
175,386
100,309
22,496
932,590

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
47,976
41,592

47,976
41,592


6.


Stocks

2024
2023
£
£

Stock
109,099
39,655

109,099
39,655



7.


Debtors

2024
2023
£
£


Trade debtors
508,879
304,520


7.Debtors (continued)


Other debtors
256,684
194,424

Prepayments, accrued income and work in progress
357,574
73,966

1,123,137
572,910



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
631,811
387,102

631,811
387,102



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
29,254
24,542

Trade creditors
317,061
149,764

Amounts owed to group undertakings
630
-

Other taxation and social security
262,523
182,569

Obligations under finance lease and hire purchase contracts
16,850
15,048

Other creditors
8,585
7,535

Accruals and deferred income
503,933
123,193

1,138,836
502,651


The following liabilities were secured:

2024
2023
£
£



Bank loans
19,050
14,590

Obligations under hire purchase contracts
16,850
15,048

35,900
29,638

Details of security provided:

The bank loans are secured upon the assets of the Company.
The hire purchase agreements are secured against the assets to which they relate.
The amount of £10,204 (2023: £9,952) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
510,578
190,579

Net obligations under finance leases and hire purchase contracts
25,275
5,425

535,853
196,004


The following liabilities were secured:

2024
2023
£
£



Bank loans
498,344
168,144

Obligations under hire purchase contracts
25,275
5,425

523,619
173,569

Details of security provided:

The bank loans are secured upon the assets of the Company.
The hire purchase agreements are secured against the assets to which they relate.
The amount of £12,234 (2023: £22,435) included in creditors due after one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
29,254
24,542


29,254
24,542

Amounts falling due 1-2 years

Bank loans
31,077
25,563


31,077
25,563

Amounts falling due 2-5 years

Bank loans
74,347
63,420


74,347
63,420

Amounts falling due after more than 5 years

Bank loans
405,154
101,596

405,154
101,596

539,832
215,121



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
16,850
15,048

1-2 years
16,850
5,425

2-5 years
8,425
-

42,125
20,473



13.


Deferred taxation




2024


£






At beginning of year
(59,599)


Charged to profit or loss
(8,258)



At end of year
(67,857)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
67,857
59,599

67,857
59,599


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



51 (2023 - 51) Ordinary A shares of £1.00 each
51
51
49 (2023 - 49) Ordinary B shares of £1.00 each
49
49

100

100



15.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profit of the Company since incorporation less distributions made to shareholders.


16.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £19,680 (2023: £14,320). Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date and are included in creditors.



17.


Commitments under operating leases

At 31 August 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
17,813
23,750

Later than 1 year and not later than 5 years
-
17,813

17,813
41,563


18.


Controlling party

The company is a wholly owned subsidiary of Reeco Holdings Limited which is a UK registered company. The registered office of the parent company is Unit 45 Mochdre Industrial Estate, Newtown, Powys, SY16 4LE.