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REGISTERED NUMBER: 03873947 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 September 2024

for

Reynolds 2000 Limited

Reynolds 2000 Limited (Registered number: 03873947)

Contents of the Consolidated Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Statement of Financial Position 12

Company Statement of Financial Position 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Statement of Cash Flows 17

Notes to the Consolidated Statement of Cash Flows 18

Notes to the Consolidated Financial Statements 19


Reynolds 2000 Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr C Reynolds
Mrs F Reynolds
Mr S Reynolds



SECRETARY: Mrs F Reynolds



REGISTERED OFFICE: Redcliff Court
Redcliff Road
Hessle
Hull
East Yorkshire
HU13 0EY



REGISTERED NUMBER: 03873947 (England and Wales)



AUDITORS: Harris Lacey and Swain
Chartered Accountants and Statutory Auditors
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ



SOLICITORS: Gosschalks
Queens Gardens
Hull
HU1 3DZ

Reynolds 2000 Limited (Registered number: 03873947)

Group Strategic Report
for the Year Ended 30 September 2024


The directors present their strategic report of the company and the group for the year ended 30 September 2024.

The directors present their strategic report of the company for the year ended 30 September 2024.

REVIEW OF BUSINESS
The key financial highlights of the group are as follows :-

12m 12m 12m 12m 12m
2024 2023 2022 2021 2020
£ £ £ £ £

Group Turnover

39,042,531

33,585,372

31,043,577

32,541,378

25,456,318
Group Turnover Growth 16% 8% (5% ) 28% 46%

Group Gross Profit 8,401,784 5,812,397 6,054,542 5,064,670 4,327,661
Group Gross Profit Margin 22% 17% 20% 16% 17%


Profit before Tax

5,654,475

3,515,564

3,920,132

3,325,065

2,386,707
Profit before Tax margin 14% 11% 13% 10% 9%


The directors are delighted to report the increased turnover and profitability for the trading period.

These excellent results are in line with the ongoing structured sustainable growth plan set up by the directors five years ago which is regularly reviewed to accommodate our client expectations and the market conditions.

The increase in turnover demonstrates the plan is effective and the growth in profitability reassures that we have good levels of staff suitably qualified to manage the growth without compromising systems, operations and efficiency of the business.

The company regards its ethical trading policy and strong respect from all in the commercial market as being a key driver in its effective trading. The company does not adopt any specific non financial and sustainability policies but holds a regard for these practices throughout its management of the company.


Reynolds 2000 Limited (Registered number: 03873947)

Group Strategic Report
for the Year Ended 30 September 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principle financial instruments comprise of bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company operations.

Price Risk
The company provides the leasing of assets and also rental of commercial property to other group companies. This risk is managed by ensuring its prices and rates are updated to take into account any fluctuations within the market. The group also conducts trade within the construction contracts market though C.R Reynolds Limited. The company has sufficient and adequate knowledge of the construction industry and sector which it undertakes work within. The company feels that this risk is managed by the personnel the group holds who hold sufficient knowledge of the construction industry.

Credit risk (trade receivables)
Credit checks are carried out on all customers. Amounts outstanding for both time and credit limits are regularly monitored. The company has little experience of material bad debts in general. The company reviews and undertakes regular construction contract valuations on the contracts which are undertaken to ensure that cashflow and the credit risk is mitigated.

Liquidity risk
The company's liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due and does not consider that liquidity poses a significant risk.

Interest rate and cash flow risk
The company had a favorable cash balance during the year and therefore does not consider that interest rates or cash flow pose a significant risk.

Foreign Exchange risk
The group has interests in operations in overseas countries, the risk is mitigated by monitoring foreign exchange rates on a daily basis.

FUTURE TRADING AND DEVELOPMENTS
The 24/25 trading period starts with record secured workload of £39,000,000, the majority of this will be undertaken in the 24/25 period.

Bid requests remain extremely buoyant and the expectation is that turnover will continue to grow for the foreseeable future.

MATTERS OF STRATEGIC IMPORTANCE
The directors are alert to risks associated with the current economic climate particularly in respect of public sector works. The considered expectation is that the current trend whereby schemes under financial scrutiny still proceed but with reduced budgets will prevail, given government commitment to infrastructure spending. This has recently happened on several projects and has been successfully managed by our teams to a great extent by offering our skill in value engineering cost efficiencies.

ON BEHALF OF THE BOARD:





Mr C Reynolds - Director


6 June 2025

Reynolds 2000 Limited (Registered number: 03873947)

Report of the Directors
for the Year Ended 30 September 2024


The directors present their report with the financial statements of the company for the period 1 October 2023 to 30 September 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of civil engineers and building contractors, property rental, lease of plant and equipment, and a holding company.

DIVIDENDS
No dividends will be distributed for the year ended 30 September 2024.

RESEARCH AND DEVELOPMENT
The company are constantly looking for innovative civil engineering methods, they are therefore carrying out multiple research and development activities.

FUTURE DEVELOPMENTS
The company intends to maintain its policy of steady organic growth whilst still attempting to remain competitive in the current market.

DIRECTORS
The directors during the year under review were:

Mr C Reynolds
Mrs F Reynolds
Mr S Reynolds

The beneficial interests of the directors holding office on 30 September 2024 in the issued share capital of the company were as follows:
30.9.24 1.10.23
Ordinary £1 shares

Mr C Reynolds 15,299 15,299
Mrs F Reynolds 14,701 14,701
Mr S Reynolds - -

FINANCIAL INSTRUMENTS AND RISK MANAGEMENT
These details can be viewed on the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


Reynolds 2000 Limited (Registered number: 03873947)

Report of the Directors
for the Year Ended 30 September 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Harris Lacey and Swain, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr C Reynolds - Director


6 June 2025

Report of the Independent Auditors to the Members of
Reynolds 2000 Limited


Opinion
We have audited the financial statements of Reynolds 2000 Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

An overview of the scope of our audit
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the directors report and strategic report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

Report of the Independent Auditors to the Members of
Reynolds 2000 Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on pages four and five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Reynolds 2000 Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which our procedures are capable of detecting irregularities, including fraud:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- We identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the sector in which the company operates;
- We focused on specific laws and regulations which we considered may have a direct impact material effect on the
financial statements, or the operations of the company which included the Companies Act 2006, taxation
legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;
- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- Identified laws and regulations were communicated within the audit team and the team remained alert to instances
of non-compliance throughout the audit.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to involve the completeness and timing of income recognition and the override of controls by management.

To address the risk of fraud in relation to revenue recognition, we:
- Performed detailed substantive testing to address completeness and accuracy of sales;
- Assessed the appropriateness and application of the accounting policy concerning income recognition; and
- Performed detailed cut-off testing either side of the balance sheet date.

To address the risk of fraud through management bias and override of controls, we:
- Performed analytical procedures to identify any unusual or unexpected relationships;
- Tested journal entries to identify unusual transactions;
- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias;
- Investigated the rationale behind significant or unusual transactions.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Report of the Independent Auditors to the Members of
Reynolds 2000 Limited


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at:

https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and-guidance-for-audit ors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-for-audit.aspx. This description forms part of our auditor's report.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Laura Jennifer Drew BFP ACA FCCA (Senior Statutory Auditor)
for and on behalf of Harris Lacey and Swain
Chartered Accountants and Statutory Auditors
Suite 1
The Riverside Building
Hessle
East Yorkshire
HU13 0DZ

6 June 2025

Reynolds 2000 Limited (Registered number: 03873947)

Consolidated
Income Statement
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

TURNOVER 3 39,042,531 33,585,355

Cost of sales (30,640,747 ) (27,772,958 )
GROSS PROFIT 8,401,784 5,812,397

Administrative expenses (3,258,969 ) (2,714,329 )
5,142,815 3,098,068

Other operating income 73,755 139,088
GROUP OPERATING PROFIT 5 5,216,570 3,237,156

Share of operating profit in
Associates 141,294 93,548

Interest receivable and similar income 309,844 193,195
5,667,708 3,523,899

Interest payable and similar expenses 7 (13,233 ) (8,335 )
PROFIT BEFORE TAXATION 5,654,475 3,515,564

Tax on profit 8 (1,130,568 ) (720,529 )
PROFIT FOR THE FINANCIAL YEAR 4,523,907 2,795,035
Profit attributable to:
Owners of the parent 4,108,876 2,469,185
Non-controlling interests 415,031 325,850
4,523,907 2,795,035

Reynolds 2000 Limited (Registered number: 03873947)

Consolidated
Other Comprehensive Income
for the Year Ended 30 September 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 4,523,907 2,795,035


OTHER COMPREHENSIVE INCOME/(LOSS)
Foreign exchange reserve 18,911 (162,793 )
Revaluation Reserve - (162,500 )
Income tax relating to components of other
comprehensive income/(loss)

-

-
OTHER COMPREHENSIVE
INCOME/(LOSS) FOR THE YEAR, NET
OF INCOME TAX


18,911


(325,293


)
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

4,542,818

2,469,742

Total comprehensive income attributable to:
Owners of the parent 4,127,787 2,143,892
Non-controlling interests 415,031 325,850
4,542,818 2,469,742

Reynolds 2000 Limited (Registered number: 03873947)

Consolidated Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 639,114 648,630
Investments 14
Interest in associate 159,044 242,750
Investment property 15 1,359,164 1,324,164
2,157,322 2,215,544

CURRENT ASSETS
Stocks 16 9,931,821 9,688,469
Debtors 17 9,517,497 8,383,790
Cash at bank 12,851,673 9,082,936
32,300,991 27,155,195
CREDITORS
Amounts falling due within one year 18 9,761,746 8,957,963
NET CURRENT ASSETS 22,539,245 18,197,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,696,567

20,412,776

CREDITORS
Amounts falling due after more than one
year

19

(165,744

)

(120,627

)

PROVISIONS FOR LIABILITIES 22 - (14,144 )
NET ASSETS 24,530,823 20,278,005

Reynolds 2000 Limited (Registered number: 03873947)

Consolidated Statement of Financial Position - continued
30 September 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 23 30,000 30,000
Revaluation reserve 24 388,599 388,599
Other reserves 24 (143,882 ) (162,793 )
Fair value reserve 24 29,439 29,439
Retained earnings 24 23,508,596 19,364,720
SHAREHOLDERS' FUNDS 23,812,752 19,649,965

NON-CONTROLLING INTERESTS 25 718,071 628,040
TOTAL EQUITY 24,530,823 20,278,005


The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Mr C Reynolds - Director


Reynolds 2000 Limited (Registered number: 03873947)

Company Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 12 - -
Tangible assets 13 591,473 581,755
Investments 14 885,755 885,755
Investment property 15 1,359,164 1,324,164
2,836,392 2,791,674

CURRENT ASSETS
Stocks 16 1,141,333 1,125,986
Debtors 17 9,569,366 9,547,016
Cash at bank 4,451,157 2,194,692
15,161,856 12,867,694
CREDITORS
Amounts falling due within one year 18 200,863 979,638
NET CURRENT ASSETS 14,960,993 11,888,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,797,385

14,679,730

CREDITORS
Amounts falling due after more than one
year

19

(165,744

)

(120,627

)

PROVISIONS FOR LIABILITIES 22 - (14,144 )
NET ASSETS 17,631,641 14,544,959

CAPITAL AND RESERVES
Called up share capital 23 30,000 30,000
Revaluation reserve 24 388,599 388,599
Fair value reserve 24 29,439 29,439
Retained earnings 24 17,183,603 14,096,921
SHAREHOLDERS' FUNDS 17,631,641 14,544,959

Company's profit for the financial year 3,051,682 2,533,868

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Mr C Reynolds - Director


Reynolds 2000 Limited (Registered number: 03873947)

Consolidated Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up
share Retained Revaluation Other
capital earnings reserve reserves
£    £    £    £   
Balance at 1 October 2022 30,000 17,225,535 551,099 -

Changes in equity
Dividends - (330,000 ) - -
Total comprehensive income - 2,469,185 (162,500 ) (162,793 )
Balance at 30 September 2023 30,000 19,364,720 388,599 (162,793 )

Changes in equity
Total comprehensive income - 4,143,876 - 18,911
Balance at 30 September 2024 30,000 23,508,596 388,599 (143,882 )
Fair
value Non-controlling Total
reserve Total interests equity
£    £    £    £   
Balance at 1 October 2022 29,439 17,836,073 542,190 18,378,263

Changes in equity
Dividends - (330,000 ) (240,000 ) (570,000 )
Total comprehensive income - 2,143,892 325,850 2,469,742
Balance at 30 September 2023 29,439 19,649,965 628,040 20,278,005

Changes in equity
Dividends - - (325,000 ) (325,000 )
Total comprehensive income - 4,162,787 415,031 4,577,818
Balance at 30 September 2024 29,439 23,812,752 718,071 24,530,823

Reynolds 2000 Limited (Registered number: 03873947)

Company Statement of Changes in Equity
for the Year Ended 30 September 2024

Called up Fair
share Retained Revaluation value Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 October 2022 30,000 11,893,053 551,099 29,439 12,503,591

Changes in equity
Dividends - (330,000 ) - - (330,000 )
Total comprehensive income - 2,533,868 (162,500 ) - 2,371,368
Balance at 30 September 2023 30,000 14,096,921 388,599 29,439 14,544,959

Changes in equity
Total comprehensive income - 3,086,682 - - 3,086,682
Balance at 30 September 2024 30,000 17,183,603 388,599 29,439 17,631,641

Reynolds 2000 Limited (Registered number: 03873947)

Consolidated Statement of Cash Flows
for the Year Ended 30 September 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 4,683,526 (3,278,798 )
Interest element of hire purchase payments
paid

(13,233

)

(8,335

)
Tax paid (853,613 ) (321,317 )
Net cash from operating activities 3,816,680 (3,608,450 )

Cash flows from investing activities
Purchase of tangible fixed assets (198,961 ) (402,592 )
Purchase of fixed asset investments (141,294 ) (93,548 )
Sale of tangible fixed assets 68,200 79,674
Sale of current asset investments - 239,600
Interest received 309,844 193,195
Net cash from investing activities 37,789 16,329

Cash flows from financing activities
New hp agreements in year 197,314 83,181
Capital repayments in year (132,747 ) (85,640 )
Amount introduced by directors 32,919 877,443
Amount advanced/(withdrawn) by directors (64,307 ) (437 )
Dividends paid to minorities (325,000 ) (240,000 )
Dividends from associates 225,000 250,000
Equity dividends paid - (330,000 )
Net cash from financing activities (66,821 ) 554,547

Increase/(decrease) in cash and cash equivalents 3,787,648 (3,037,574 )
Cash and cash equivalents at beginning of
year

2

9,082,936

12,283,303
Effect of foreign exchange rate changes (18,911 ) (162,793 )
Cash and cash equivalents at end of year 2 12,851,673 9,082,936

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Statement of Cash Flows
for the Year Ended 30 September 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 5,654,475 3,515,564
Depreciation charges 188,446 171,580
Profit on disposal of fixed assets (48,169 ) (26,665 )
Finance costs 13,233 8,335
Finance income (309,844 ) (193,195 )
5,498,141 3,475,619
Increase in stocks (243,352 ) (8,719,118 )
(Increase)/decrease in trade and other debtors (1,103,117 ) 1,619,108
Increase in trade and other creditors 531,854 345,593
Cash generated from operations 4,683,526 (3,278,798 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 September 2024
30.9.24 1.10.23
£    £   
Cash and cash equivalents 12,851,673 9,082,936
Year ended 30 September 2023
30.9.23 1.10.22
£    £   
Cash and cash equivalents 9,082,936 12,283,303


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.23 Cash flow At 30.9.24
£    £    £   
Net cash
Cash at bank 9,082,936 3,768,737 12,851,673
9,082,936 3,768,737 12,851,673
Debt
Finance leases (202,957 ) (64,567 ) (267,524 )
(202,957 ) (64,567 ) (267,524 )
Total 8,879,979 3,704,170 12,584,149

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Reynolds 2000 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of the estimation means the actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant impact on amounts recognised in the financial statements.

Revenue recognition
The percentage of completion method and the determination of revenues to recognise on claims and variations to contracts are reliant on estimates in particular in respect of future expected costs and revenues. The company reviews the appropriateness of assumptions made on a regular basis.

Turnover
Construction contracts
Contract revenue includes the initial amount agreed in the contract plus any variations in contract work, claims and incentive payments to the extent that it is probable that they will result in revenue and can be measured reliably. As soon as the outcome of a construction contract can be estimated reliably, contract revenue and contract cost are recognised in the profit and loss in proportion to the stage of completion of the contract. Contract expenses are recognised as incurred unless they create an asset related to future contract activity.

The stage of completion is assessed by reference to the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs. When the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that are likely to be recoverable. An expected loss on a contract is recognised immediately in the profit and loss.

Work done on long term contracts has been prepared in accordance with FRS 102.

Goods sold and services rendered
Revenue from sale of goods is measured at fair value of the consideration received or receivable and is recognised in the profit and loss when the significant risks and rewards of ownership have been transferred to the buyer. It is stated after trade discounts, other sales taxes and excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acqusition of a business in 2013. It was amortised evenly over an estimated useful life of 5 years and is now fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost and 25% on reducing balance
Computer equipment - 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

The value of contract work in progress comprises the costs incurred on contracts plus an appropriate proportion of overheads and attributable profit. Fees invoiced on account are deducted from the value of work in progress and the balance is separately disclosed in trade and other receivables as amounts recoverable on contract, unless such fees exceed the value of the work in progress on any contract in which case the excess is separately disclosed in trade and other payables as fees invoiced in advance.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

The 'timing difference plus' approach has been adopted in respect of the revaluation of assets.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Translation of foreign operation
Transactions denominated in currencies other than the functional currency of the transacting group undertaking are translated into the functional currency at the average monthly exchange rate when the transaction occurs. Monetary assets and liabilities denominated in foreign currencies are translated into the relevant functional currency at the rate prevailing at the year end. Exchange differences arising on foreign exchange transactions and the retranslation of monetary assets and liabilities into functional currencies at the rate prevailing at the year end are included in profit/(loss) before taxation.

The trading results of Group undertakings are translated into sterling at the average exchange rates for the year. The assets and liabilities of overseas undertakings, including goodwill and fair value adjustments arising on acquisition, are translated at the exchange rates prevailing at the year end. Exchange adjustments arising from the retranslation of the opening net assets, and from the translation of the profits or losses at average rates, are recognised in OCI.

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the principal activities of the group.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 39,025,745 33,554,091
Europe 16,786 31,264
39,042,531 33,585,355

The gross amount due from customers as at 30 September 2024 is £6,513,284 (2023: £4,871,205). The percentage of revenue that relates to construction contracts is 99% (2023: 99%).

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 3,139,694 2,603,294
Social security costs 180,839 154,386
Other pension costs 172,309 143,587
3,492,842 2,901,267

The average number of employees during the year was as follows:
2024 2023

Production staff 30 27
Office staff 24 23
54 50

2024 2023
£    £   
Directors' remuneration 252,262 227,675

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 115,000 98,750

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 2,500,464 3,207,705
Depreciation - owned assets 89,019 90,526
Depreciation - assets on hire purchase contracts 88,975 81,054
Profit on disposal of fixed assets (48,169 ) (26,665 )
Foreign exchange differences 32,517 24,205

6. AUDITORS' REMUNERATION
2024 2023
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

12,600

12,900
Auditors' remuneration for non audit work 14,139 4,500

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Hire purchase 13,233 8,335

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 1,144,966 719,415

Deferred tax (14,398 ) 1,114
Tax on profit 1,130,568 720,529

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


8. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 5,654,475 3,515,564
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2023 - 25 %)

1,413,619

878,891

Effects of:
Expenses not deductible for tax purposes 43,364 1,651
Income not taxable for tax purposes (35,324 ) (17,757 )
Depreciation in excess of capital allowances 12,091 19,278
Research and development claim (96,210 ) (41,926 )
(Profit)/loss on sale of assets (12,042 ) (5,066 )
Deferred tax movement (14,398 ) 1,114
Tax credit - (3,165 )
Change in Tax Rate - (112,491 )
Prior Year Correction (180,532 ) -
Total tax charge 1,130,568 720,529

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Foreign exchange reserve 18,911 - 18,911
Revaluation Reserve
18,911 - 18,911

2023
Gross Tax Net
£    £    £   
Foreign exchange reserve (162,793 ) - (162,793 )
Revaluation Reserve (162,500 ) - (162,500 )
(325,293 ) - (325,293 )

9. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


10. DIVIDENDS

2024 2023
£ £
Ordinary shares of £1 each
Interim Dividend - 330,000
- 330,000

11. FOREIGN EXCHANGE

Exchange adjustments arising from the retranslation of opening net investments and the translation of the profits or losses are recognised in ‘Other comprehensive income’ and allocated to non-controlling interest as appropriate.

The company is exposed to foreign currency movements. Losses of £32,517 (2023: £24,205 loss) were made during the year and shown in the profit and loss account.

12. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 312,397
AMORTISATION
At 1 October 2023
and 30 September 2024 312,397
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


13. TANGIBLE FIXED ASSETS

Group
Freehold Short Long
property leasehold leasehold
£    £    £   
COST
At 1 October 2023 120,000 30,000 103,238
Additions - - -
Disposals - - -
At 30 September 2024 120,000 30,000 103,238
DEPRECIATION
At 1 October 2023 20,000 30,000 50,749
Charge for year - - 10,320
Eliminated on disposal - - -
At 30 September 2024 20,000 30,000 61,069
NET BOOK VALUE
At 30 September 2024 100,000 - 42,169
At 30 September 2023 100,000 - 52,489

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 300,000 596,734 76,382 1,226,354
Additions - 198,961 - 198,961
Disposals - (129,411 ) - (129,411 )
At 30 September 2024 300,000 666,284 76,382 1,295,904
DEPRECIATION
At 1 October 2023 45,000 371,149 60,826 577,724
Charge for year 60,000 98,259 9,415 177,994
Eliminated on disposal - (98,928 ) - (98,928 )
At 30 September 2024 105,000 370,480 70,241 656,790
NET BOOK VALUE
At 30 September 2024 195,000 295,804 6,141 639,114
At 30 September 2023 255,000 225,585 15,556 648,630

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


13. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 351,008
Additions 198,961
Disposals (41,806 )
At 30 September 2024 508,163
DEPRECIATION
At 1 October 2023 222,586
Charge for year 88,975
Eliminated on disposal (11,323 )
At 30 September 2024 300,238
NET BOOK VALUE
At 30 September 2024 207,925
At 30 September 2023 128,422

Company
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 120,000 300,000 596,734 2,005 1,018,739
Additions - - 198,961 - 198,961
Disposals - - (129,411 ) - (129,411 )
At 30 September 2024 120,000 300,000 666,284 2,005 1,088,289
DEPRECIATION
At 1 October 2023 20,000 45,000 371,149 835 436,984
Charge for year - 60,000 98,259 501 158,760
Eliminated on disposal - - (98,928 ) - (98,928 )
At 30 September 2024 20,000 105,000 370,480 1,336 496,816
NET BOOK VALUE
At 30 September 2024 100,000 195,000 295,804 669 591,473
At 30 September 2023 100,000 255,000 225,585 1,170 581,755

Included in cost of land and buildings is freehold land of £ 100,000 (2023 - £ 100,000 ) which is not depreciated.

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


13. TANGIBLE FIXED ASSETS - continued

Company

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2023 351,008
Additions 198,961
Disposals (41,806 )
At 30 September 2024 508,163
DEPRECIATION
At 1 October 2023 222,586
Charge for year 88,975
Eliminated on disposal (11,323 )
At 30 September 2024 300,238
NET BOOK VALUE
At 30 September 2024 207,925
At 30 September 2023 128,422

14. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 October 2023 242,750
Additions 141,294
Dividends received (225,000 )
At 30 September 2024 159,044
NET BOOK VALUE
At 30 September 2024 159,044
At 30 September 2023 242,750

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


14. FIXED ASSET INVESTMENTS - continued

Company
Unlisted
investments
£   
COST
At 1 October 2023
and 30 September 2024 885,755
NET BOOK VALUE
At 30 September 2024 885,755
At 30 September 2023 885,755

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

C.R. Reynolds Limited
Registered office: Redcliff Court, Redcliff Road, Hessle, HU13 0EY
Nature of business: Civil engineers and building contractors
%
Class of shares: holding
Ordinary 90.00
2024 2023
£    £   
Aggregate capital and reserves 7,815,761 6,543,131
Profit for the year 5,667,596 3,305,041

C.R. Reynolds (Plant Hire) Limited
Registered office: Redcliff Court, Redcliff Road, Hessle, HU13 0EY
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 1 1

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


14. FIXED ASSET INVESTMENTS - continued

Cubikglacier
Registered office: Rua Paiva, no 13, Quinta do Lago, 8135-162 Almancil
Nature of business: Property Development
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (45,985 ) (4,286 )
Loss for the year (41,699 ) (8,690 )

The subsidiary reference date has been shortened by 3 months, to bring the financial year in line with that of the parent company. The accounts have therefore been prepared for a 9 month period to 30 September 2024.


15. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 October 2023 1,324,164
Revaluations 35,000
At 30 September 2024 1,359,164
NET BOOK VALUE
At 30 September 2024 1,359,164
At 30 September 2023 1,324,164

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2017 29,439
Valuation in 2024 35,000
Cost 1,294,725
1,359,164

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


15. INVESTMENT PROPERTY - continued

Company
Total
£   
FAIR VALUE
At 1 October 2023 1,324,164
Revaluations 35,000
At 30 September 2024 1,359,164
NET BOOK VALUE
At 30 September 2024 1,359,164
At 30 September 2023 1,324,164

The main Investment property has been valued by Garness Jones chartered surveyors on 5th September 2018, who are local professional valuers, this value was reassessed by the same chartered surveyors in 2024, in which they deemed there had been a £35,000 increase on valuation. Directors still deem other investment properties to represent their fair value at the year end. These will be valued at each year end going forward.

Deferred tax is calculated on the revalued amount at 25%.

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2018 29,439
Valuation in 2024 35,000
Cost 1,294,725
1,359,164

16. STOCKS

Group Company
2024 2023 2024 2023
£    £    £    £   
Work-in-progress 9,931,821 9,688,469 1,141,333 1,125,986

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


17. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 2,026,887 2,323,863 58,030 35,094
Other debtors 27,708 5,997 - -
Directors' current accounts 29,897 - 30,912 -
VAT - - 7,792 -
Deferred tax asset 254 - 254 -
Sundry debtors 718 332,056 718 332,056
Prepayments 285,898 218,257 - -
Debtors recoverable on contract 6,513,284 4,871,205 - -
8,884,646 7,751,378 97,706 367,150

Amounts falling due after more than one year:
Amounts owed by participating interests 474,031 473,592 9,471,660 9,179,866
Other debtors 158,820 158,820 - -
632,851 632,412 9,471,660 9,179,866

Aggregate amounts 9,517,497 8,383,790 9,569,366 9,547,016

Deferred tax asset
Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax 254 - 254 -

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 20) 101,780 82,330 101,780 82,330
Trade creditors 6,822,065 6,614,215 87,308 781,593
Amounts owed to group undertakings - 43,434 - -
Tax 954,954 657,550 - 36,683
Social security and other taxes 87,486 77,599 - -
VAT 930,798 809,095 - 15,401
Other creditors 41,875 24,389 - 24,100
Directors' current accounts - 1,491 - 1,198
Accrued expenses 822,788 647,860 11,775 38,333
9,761,746 8,957,963 200,863 979,638

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


19. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 20) 165,744 120,627 165,744 120,627

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 101,780 82,330
Between one and five years 165,744 120,627
267,524 202,957

Company
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 101,780 82,330
Between one and five years 165,744 120,627
267,524 202,957

The leasing agreements are motor vehicles on hire purchase, which are repayable over an average of 48 months.

21. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts 267,524 202,957 267,524 202,957

22. PROVISIONS FOR LIABILITIES

Group Company
2024 2023 2024 2023
£    £    £    £   
Deferred tax - 14,144 - 14,144

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


22. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 October 2023 14,144
Movement in year (14,398 )
Balance at 30 September 2024 (254 )

Company
Deferred
tax
£   
Balance at 1 October 2023 14,144
Movement in year (14,398 )
Balance at 30 September 2024 (254 )

23. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1 30,000 30,000

24. RESERVES

Group
Fair
Retained Revaluation Other value
earnings reserve reserves reserve Totals
£    £    £    £    £   

At 1 October 2023 19,364,720 388,599 (162,793 ) 29,439 19,619,965
Profit for the year 4,108,876 4,108,876
Movement in reserves 35,000 - 18,911 - 53,911
At 30 September 2024 23,508,596 388,599 (143,882 ) 29,439 23,782,752

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


24. RESERVES - continued

Company
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 October 2023 14,096,921 388,599 29,439 14,514,959
Profit for the year 3,051,682 3,051,682
Movement in reserves 35,000 - - 35,000
At 30 September 2024 17,183,603 388,599 29,439 17,601,641


25. NON-CONTROLLING INTERESTS

The minority interests of the group have been calculated using the equity method of accounting for the financial year.

26. PENSION COMMITMENTS

The company operates defined contribution pension schemes. Contributions of £206,611 (2023: £86,637) were made during the year and expensed to the profit and loss account.

27. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date Mr C R Reynolds owed the company £29,897 (owed by the company 2023: £1,491) by way of an interest free loan repayable on demand.

Reynolds 2000 Limited (Registered number: 03873947)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 September 2024


28. RELATED PARTY DISCLOSURES

C.R. Reynolds Limited is a 90% subsidiary of Reynolds 2000 Limited. The company number is 01772107, it is a company registered in England and Wales.

During the year C.R. Reynolds Limited traded with Reynolds 2000 Limited, the amount of sales being £1,012,555 (2023: £nil), the amount of purchases being £148,153 (2023: 194,645) all made on a normal commercial basis.

Melton Industrial Park Limited is a 50% associated company of Reynolds 2000 Limited. The company number is 06905331, it is a company registered in England and Wales. At the balance sheet date Reynolds 2000 Limited was owed £nil (2023: £24,100) from Melton Industrial Park Limited, a company registered in England and Wales. Mr C R Reynolds is also a director of this company.

At the balance sheet date there was a trade debtor balance with Reynolds 2000 Limited of £58 (2023: £1,753). These are intercompany balances repayable on demand.

Reynolds 2000 (Properties) LLP is a limited liability partnership in which Reynolds 2000 Limited is a member. As at the balance sheet date Reynolds 2000 (Properties) LLP owed Reynolds 2000 Limited £nil (2023: £nil).

Pandora Properties Plymouth LLP is a limited liability partnership in which Reynolds 2000 Limited is a member. As at the balance sheet date Pandora Properties Plymouth LLP owed Reynolds 2000 Limited £341,575 (2023: £341,371).

CR Homes & Maintenance LLP is a limited liability partnership in which Reynolds 2000 Limited is a member. As at the balance sheet date CR Homes & Maintenance LLP owed Reynolds 2000 Limited £132,459 (2023: £132,255).

29. ULTIMATE CONTROLLING PARTY

Mr C.R Reynolds and Mrs F.R Reynolds controlled the company throughout the current and previous year.