Registered Number:09293203 |
For the year ended 30 September 2024
England and Wales
Unaudited Financial Statements
For the year ended 30 September 2024
Reads Estates Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
Reads Estates Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
510,502
510,502
2
510,502
510,502
Trade and other receivables |
100,007
75,308
3
286
Cash and cash equivalents |
117
75,425
100,293
Trade and other payables: amounts falling due within one |
year |
(572,579)
(548,443)
4
(472,286)
(473,018)
Net current liabilities
Total assets less current liabilities |
37,484
38,216
37,484
Net assets
38,216
100
100
37,384
38,116
37,484
38,216
Shareholders' funds
For the year ended 30 September 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 26 June 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 30 September 2024
Reads Estates Limited
Notes to the Financial Statements
Statutory Information
Reads Estates Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 09293203. |
18 Langton Place
Hatter Street
Bury St Edmunds
Suffolk
IP33 1NE
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as |
modified by the revaluation of certain assets. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Going Concern
As at 30 September 2024 the company had net current liabilities of £473,018 (2023: £472,286). The director is of the |
opinion that the working capital available at the year end, together with the continued support of the company's |
related parties, will be sufficient to enable the company to continue operating for at least the 12 months from signing |
these accounts, and pay its debts as they fall due. The director has therefore concluded that the accounts should |
continue to be prepared on a going concern basis. |
2. Property, plant and equipment |
Land
510,502
510,502
510,502
510,502
3. Trade and other receivables |
2023
2024
75,308
100,007
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For the year ended 30 September 2024
Reads Estates Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year |
2023
2024
-
647
548,443
571,932
548,443
572,579
5. Related party transactions |
During the year the company made repayments towards a related party loan of £22,950. The balance due to the |
related party as at 30 September 2024 was £547,983 (2023: £570,933) and this is included in Other Creditors in note |
4 to the accounts. The loan have been provided on an interest free basis and are repayable on demand. |
In addtion the company received repayments of £25,000 towards a loan to a related party under common control. |
The balance due from this related party as at 30 September 2024 was £75,000 (2023: £100,000). The balance is |
included within Other Debtors in note 3 to the accounts. The loans have been provided on an interest free basis and |
are repayable on demand. |
6. Average number of persons employed |
During the year the average number of employees was 1 (2023 : 1)
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