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Registered number: 00844052










REES ASTLEY CREDIT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
REES ASTLEY CREDIT LIMITED
REGISTERED NUMBER:00844052

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
46,228
24,415

Cash at bank and in hand
 6 
31,541
-

  
77,769
24,415

Creditors: amounts falling due within one year
 7 
(52,928)
-

Net current assets
  
 
 
24,841
 
 
24,415

Total assets less current liabilities
  
24,841
24,415

  

Net assets
  
24,841
24,415


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Share premium account
 9 
23,415
23,415

Capital redemption reserve
 9 
45
45

Profit and loss account
 9 
381
(45)

  
24,841
24,415


Page 1

 
REES ASTLEY CREDIT LIMITED
REGISTERED NUMBER:00844052
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 20 June 2025.





S G Sadler
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
REES ASTLEY CREDIT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Rees Astley Credit Limited, 00844052, is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 29 North Parade, Aberystwyth, Ceredigion, SY23 2JN.
The principal activity of the company is the provision of premium credit.

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

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:

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.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

 
REES ASTLEY CREDIT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

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.


 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


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 or 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 nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Page 4

 
REES ASTLEY CREDIT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Debtors

2024
2023
£
£


Trade debtors
21,813
-

Amounts owed by group undertakings
24,415
24,415

46,228
24,415



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
31,541
-

31,541
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
2,075
-

Amounts owed to group undertakings
50,153
-

Corporation tax
100
-

Accruals and deferred income
600
-

52,928
-


Page 5

 
REES ASTLEY CREDIT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary A shares of £1.00 each
1,000
1,000



9.


Reserves

Share premium account

The share premium accounts consists of the consideration given for share capital in excess of the nominal value.


10.


Controlling party

The Company is under the control of it's parent company, Rees Astley (Holdings) Limited, a company incorporated in England and Wales.
The registered office of the parent company is 29 North Parade, Aberystwyth, Ceredigion, SY23 2JN.

 
Page 6