Company Registration No. 07162154 (England and Wales)
REA JET LIMITED
Unaudited accounts
for the year ended 31 December 2024
REA JET LIMITED
Unaudited accounts
Contents
REA JET LIMITED
Company Information
for the year ended 31 December 2024
Company Number
07162154 (England and Wales)
Registered Office
Unit 6a Hazchem Business Park,
Jacknell Road
Hinckley
Leicestershire
LE10 3BS
UK
Accountants
MilBen Accounts Limited
Izabella House
24 – 26 Regents Place
Birmingham
B1 3NJ
REA JET LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
179,752
105,767
Inventories
131,033
204,622
Cash at bank and in hand
94,445
91,897
Creditors: amounts falling due within one year
(379,082)
(399,041)
Net current assets
154,173
206,612
Total assets less current liabilities
333,925
312,379
Creditors: amounts falling due after more than one year
(164,556)
(173,914)
Provisions for liabilities
Deferred tax
(29,358)
(14,248)
Net assets
140,011
124,217
Called up share capital
100
100
Profit and loss account
139,911
124,117
Shareholders' funds
140,011
124,217
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 March 2025 and were signed on its behalf by
DAVID HOBSON
Director
Company Registration No. 07162154
REA JET LIMITED
Notes to the Accounts
for the year ended 31 December 2024
REA JET LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07162154. The registered office is Unit 6a Hazchem Business Park,, Jacknell Road, Hinckley, Leicestershire, LE10 3BS, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
over 5 years
Fixtures & fittings
over 5 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
REA JET LIMITED
Notes to the Accounts
for the year ended 31 December 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2024
86,787
84,785
171,572
Additions
36,348
58,790
95,138
At 31 December 2024
123,135
143,575
266,710
At 1 January 2024
38,962
26,843
65,805
Charge for the year
9,565
11,588
21,153
At 31 December 2024
48,527
38,431
86,958
At 31 December 2024
74,608
105,144
179,752
At 31 December 2023
47,825
57,942
105,767
Amounts falling due within one year
Trade debtors
302,752
302,109
Amounts falling due after more than one year
REA JET LIMITED
Notes to the Accounts
for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
277,495
283,942
Taxes and social security
53,436
58,974
Other creditors
17,086
1,731
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
21,056
30,414
Amounts owed to group undertakings and other participating interests
143,500
143,500
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).