REEF AGENCY LIMITED


Directors	THOMAS, Doug
	THOMAS, Lisa


Company Secretary	THOMAS, Lisa


Registered Address	1 Gemini Court
	42a Throwley Way,
	Sutton
	SM1 4AF


Registered Number	07522271 (England and Wales)

Statement of Financial Position
28 February 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		33		44
Investment property	4		851,530		843,000
			851,563		843,044
Current assets
Debtors	5	1,654		1,550
Cash at bank and on hand		38,893		49,666
		40,547		51,216
Creditors amounts falling due within one year	6	(5,729)		(5,017)
Net current assets (liabilities)			34,818		46,199
Total assets less current liabilities			886,381		889,243
Creditors amounts falling due after one year	7		(336,422)		(356,561)
Provisions for liabilities	8		(74,307)		(74,309)
Net assets			475,652		458,373
Capital and reserves
Called up share capital			100		100
Revaluation reserve			316,767		316,767
Profit and loss account			158,785		141,506
Shareholders' funds			475,652		458,373

The company was entitled to exemption from audit for this reporting period 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 Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 13 November 2025, and are signed on its behalf by:

THOMAS, Doug
Director
Registered Company No. 07522271

REEF AGENCY LIMITED

Notes to the Financial Statements
for the year ended 28 February 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	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).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover represents the value of rental income due under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	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.

Deferred tax

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.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	25

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

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 March 24	989	989
At 28 February 25	989	989
Depreciation and impairment
At 01 March 24	945	945
Charge for year	11	11
At 28 February 25	956	956
Net book value
At 28 February 25	33	33
At 29 February 24	44	44

4.	Investment property
	The fixed asset investment properties are included at open market value and these are deemed by the directors at 28 February 2025 to be represented by the value as disclosed.


		£
	Fair value at 01 March 24	843,000
	Additions	8,530
	At 28 February 25	851,530

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Prepayments and accrued income	1,654	1,550
Total	1,654	1,550

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	4,055	4,015
Accrued liabilities and deferred income	1,674	1,002
Total	5,729	5,017

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	336,422	356,561
Total	336,422	356,561

8.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	74,307	74,309
Total	74,307	74,309