| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| E.Reeves Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2025 |
| for |
| E.Reeves Limited |
| E.Reeves Limited (Registered number: 00434036) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| E.Reeves Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Airport House |
| Suite 43-45 |
| Purley Way |
| Croydon |
| CR0 0XZ |
| E.Reeves Limited (Registered number: 00434036) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 7 | ( |
) | ( |
) |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Revaluation reserve | 8 |
| Capital redemption reserve | 8 |
| Retained earnings | 8 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps 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 Sections 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. |
| E.Reeves Limited (Registered number: 00434036) |
| Balance Sheet - continued |
| 31 March 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| E.Reeves Limited (Registered number: 00434036) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| E.Reeves Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The principal activity of the company in the year under review continued to be retail of furniture and home furnishings. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| TURNOVER |
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. Turnover represents amounts receivable for goods and services net of VAT and trade discounts. |
| TANGIBLE FIXED ASSETS |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Land and buildings Freehold | - 2% Straight Line |
| Plant and machinery | - 25% Reducing Balance |
| Fixtures, fittings & equipment | - 15% Reducing Balance |
| Computer equipment | - 25% Reducing Balance |
| Motor vehicles | - 25% Reducing Balance |
| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss . |
| STOCKS |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| FINANCIAL INSTRUMENTS |
| The company only enters into basic financial instrument transactions that results in the recognition of financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares. |
| E.Reeves Limited (Registered number: 00434036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| TAXATION |
| The tax expense represents the sum of the tax currently payable and deferred tax. |
| CURRENT TAX |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date. |
| GOING CONCERN |
| At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
| PROVISION FOR LIABILITIES |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the statement of comprehensive income in the year that the company becomes aware of the obligation, and are measured at the best estimates at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
| PENSIONS |
| DEFINED CONTRIBUTION PENSION PLAN |
| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. |
| The contributions are recognised as an expense in statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. |
| FOREIGN EXCHANGE |
| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| E.Reeves Limited (Registered number: 00434036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Cost or valuation at 31 March 2025 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 2021 | 3,578,257 | - | - | 3,578,257 |
| Valuation in 2017 | 62,847 | - | - | 62,847 |
| Valuation in 2024 | (2,271,212 | ) | - | - | (2,271,212 | ) |
| Cost | 615,500 | 10,589 | 364 | 626,453 |
| 1,985,392 | 10,589 | 364 | 1,996,345 |
| The company has three freehold properties. The fair value of the freehold properties have been valued by the directors at a fair open market price. Deferred tax has been calculated on the revalued amounts and provided for within the financial statements. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| The directors consider the carrying value of trade and other receivables approximate to their fair value. |
| E.Reeves Limited (Registered number: 00434036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| The directors consider the carrying amounts of current liabilities approximate to their fair values. |
| 7. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Deferred tax | 138 | (207 | ) |
| Deferred taxation liability |
| -on revaluation of assets | 66,795 | 66,795 |
| 66,933 | 66,588 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2024 |
| Provided during year |
| Balance at 31 March 2025 |
| 8. | RESERVES |
| PROFIT AND LOSS RESERVES |
| The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. |
| REVALUATION RESERVES |
| The Company uses the revaluation model for the measurement of its freehold properties. This reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve. |
| 9. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £3,135 (2024 - £3,083) |
| Contributions totalling £405 (2024 - £616) were payable to fund at the balance sheet date and are included in creditors. |
| E.Reeves Limited (Registered number: 00434036) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, included under other creditors is the amount due to G J Reeves of £6,756 (2024 - £3,283), the director of the company. This loan is interest free and repayable on demand. |
| At the balance sheet date, included under other creditors is the amount due to T W Reeves of £2,654 (2024 - £1,568 in other debtors), the director of the company. This loan is interest free and repayable on demand. |