Registered number
01481128
M.J. REES AND COMPANY LIMITED
Filleted Accounts
30 April 2025
M.J. REES AND COMPANY LIMITED
Registered number: 01481128
Balance Sheet
as at 30 April 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 74,623 98,713
Current assets
Stocks 7,318 62,329
Debtors 4 168,368 113,393
Cash at bank and in hand 205,641 316,372
381,327 492,094
Creditors: amounts falling due within one year 5 (117,200) (181,722)
Net current assets 264,127 310,372
Total assets less current liabilities 338,750 409,085
Creditors: amounts falling due after more than one year 6 (13,000) (15,417)
Provisions for liabilities (6,420) (14,772)
Net assets 319,330 378,896
Capital and reserves
Called up share capital 64 64
Share premium (2,186) (2,186)
Profit and loss account 321,452 381,018
Shareholders' funds 319,330 378,896
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R A Brassington
Director
Approved by the board on 25 July 2025
M.J. REES AND COMPANY LIMITED
Notes to the Accounts
for the year ended 30 April 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant & Machinery 20% straight line
Fixtures & Fittings 15% reducing balance
Computer Equipment 15% reducing balance
Motor Vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2024 72,933 423,490 116,993 613,416
Additions 1,414 6,138 - 7,552
At 30 April 2025 74,347 429,628 116,993 620,968
Depreciation
At 1 May 2024 48,078 398,347 68,278 514,703
Charge for the year 3,940 15,523 12,179 31,642
At 30 April 2025 52,018 413,870 80,457 546,345
Net book value
At 30 April 2025 22,329 15,758 36,536 74,623
At 30 April 2024 24,855 25,143 48,715 98,713
4 Debtors 2025 2024
£ £
Trade debtors 101,567 37,207
Other debtors 66,801 76,186
168,368 113,393
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts 6,417 15,581
Trade creditors 72,625 31,219
Directors current account - 2,222
Taxation and social security costs 26,889 35,003
Other creditors 11,269 97,697
117,200 181,722
6 Creditors: amounts falling due after one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts - 6,417
Other creditors 13,000 9,000
13,000 15,417
7 Other information
M.J. REES AND COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit A1 Vantage Office Park
Old Gloucester Road
Hambrook
Bristol
BS16 1GW
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